In our last post, we described the basics of what a “Family Office” is. In this post, we’ll go over in more detail the traditional family offices: what they are, how they serve families, and their unique pros and cons.
To review traditional family offices, an embedded family office (“EFO”) is the term used for a family that uses their operating business staff to assist in managing their personal affairs. A single family office (“SFO”) is a dedicated team of professionals, separate from the operating business, that work exclusively for a single family. (more…)