The family office is no longer just for the superrich — here's how even smaller fortunes can use one to last generations

Family offices are no longer just for billionaires — smaller fortunes are using lean, tech-driven models to preserve wealth and values across generations.Suhaimi Abdullah/NurPhoto via Getty ImagesJulius Baer's head of wealth planning says family offices are no longer just for billionaires.María Eugenia Mosquera says hybrid and virtual models allow smaller fortunes to grow wealth like those of the rich.She says a well-designed family office can help preserve wealth and values for generations.Once reserved for billionaires and old-money estates, the family office — a private structure for managing investments, estates, and succession — is undergoing a quiet revolution.What began as the domain of the Rockefellers and Rothschilds is now being reimagined for entrepreneurs, founders, and even upper-middle-class families seeking to professionalize their approach to managing and preserving wealth."The idea that one must have billions to justify a family office is rooted in outdated thinking," María Eugenia Mosquera, Head of Wealth Planning Key Clients & Family Office Services at Julius Baer, wrote in a blogpost on Friday."Similarly, the belief that such structures are overly complex or only relevant to dynastic wealth overlooks just how adaptable the modern family office model has become," she said."Often, the real issue isn't feasibility, it's not knowing where to begin."The ultrawealthy are pulling back from risky startups and pouring billions into private credit and real estate, per Campden Wealth's 2025 report.Gary Hershorn/Getty ImagesSmaller fortunes are getting in on the actA global survey by Julius Baer and PwC — covering 2,485 wealth management and family office experts across Europe, Asia, the Middle East, and Latin America — found that 41% of ultra-high-net-worth respondents cited cost as the main barrier to setting up a single-family office, followed by management complexity and the belief that their wealth wasn't substantial enough.But Mosquera said those concerns are often misplaced.With the rise of technology, regulation, and global mobility, new models have emerged that allow smaller fortunes to access the same level of professionalism as billionaires, she said."Some families prefer to keep control of areas like philanthropy or governance, while others prioritize access to specialized expertise via external partners," she wrote. "In reality, most family offices adopt a hybrid model, combining internal oversight with outsourced services such as legal, wealth planning, or investment advisory."How smaller fortunes can start their own family officeYou don't need dynastic wealth to take a family-office approach, according to Julius Baer.The same principles that once served Renaissance estates can be applied by today's entrepreneurs, business sellers, and globally mobile families — at a fraction of the cost.1. Start small and evolveMosquera advises families to view the process as "a phased, thoughtful evolution."Those planning a business sale or expecting liquidity can begin by formalizing what they already do — setting clear governance, defining investment principles, and establishing communication routines.A single trusted advisor or accountant can act as the nucleus before more roles are added.2. Use hybrid or virtual models to stay leanThe Julius Baer report defines a Virtual Family Office (VFO) as "ideal for globally mobile families," using "digital platforms and remote teams to deliver services flexibly across borders."This model gives smaller fortunes the same strategic control, minus the heavy fixed costs of staff and office space.3. Outsource the complex — keep the core in-houseAs Mosquera puts it, "This depends on the family's priorities, the complexity of their wealth, and how much operational infrastructure they want to oversee."Families can outsource investment, tax, and legal matters while keeping philanthropy, governance, and education in-house — a structure that balances control with efficiency.4. Choose jurisdiction wiselyLocation influences "everything from stability and regulatory clarity to access to talent, privacy, and lifestyle," Mosquero wrote.While Switzerland, Singapore, Hong Kong, and Dubai lead as global hubs, Mosquera notes that many families now operate virtually — coordinating data, advisors, and decision-making digitally across continents.5. Anchor everything in values"A thoughtfully designed family office often becomes the cornerstone for long-term wealth preservation and successful intergenerational transfer," said Thomas Frauenlob, member of the Global Wealth Management Committee and Co-Head Region Western Markets & Switzerland at Julius Baer."When anchored in these elements, it offers far greater value than generic, one-size-fits-all solutions," Mosquera added."There's no universal blueprint," Mosquera said. "Instead, the right approach is thoughtfully curated to reflect each family's unique needs, preferences, and aspirations."Read the original article on Business Insider

Comments

Business News

Leon co-founder John Vincent buys back restaurant chain from Asda

Evening Standard

Comments

Business News

Leon co-founder John Vincent buys back restaurant chain from Asda

Leon founder buys back restaurant chain from supermarket giant

FTSE 100 down as interest rate call set to be closer than previously thought

FTSE 100 down as interest rate call set to be closer than previously thought

Is ‘The Witcher’ Getting A Season 5? Here’s The Good News

20 Songs And 10 Groups That Are The Epitome Of Dad-Rock

Remember, ‘IT: Welcome To Derry’ Episode 2 Is Out Early This Week

Recent Advances And Setbacks For Strategic Middle Eastern Air Defenses

Babbo Reopens In New York’s Greenwich Village

IRS Taxes Scam Victims

SNAP Food Aid At Risk In Shutdown Has A Nearly Century Long History

Trump Says No Decision Has Been Made On Looming Venezuela Land Strikes

Air Travel Breakdown Likely As Unpaid ATC And TSA Workers Face Stress

Ex-CBS producer alleges ‘race-based layoffs’ after Paramount cuts hits news division

Trump admin restricts student loan forgiveness for public servants ‘aiding and abetting illegal immigration’

'Significant' step in establishing national justice programme for Post Office victims

Former TGI Fridays chief in move to snap up UK chain&#160;

Marks and Spencer announces store changes including 11 cafe closures — full list

Top Tech: Apple shoppers snap up early Black Friday deals on iPhones, iPads and MacBooks

15 advent calendars for fans of socks, candles, coffee and more this December

Former aide to Gordon Brown joins UK exodus abroad to UAE despite running FTSE 100 events firm

Would Rachel Reeves dare to hike income tax? This is Money Podcast

Emerging infections you should know about and how to prevent them

What it takes to be a sentinel at the Tomb of the Unknown Soldier

OpenAI explains how it plans to start making money from Sora users

I'm a New Yorker who went to Salt Lake City for the first time. 9 things surprised me.

Sam Altman says he wishes he had taken equity in OpenAI earlier: 'It would have led to far fewer conspiracy theories'

Amazon VP says his division is hiring and promoting based on employees' AI usage

Watch out, workers: Amazon's flex this week shows how AI is transforming jobs.

I've spent 75 hours on overnight Amtrak trips. I wish I had known 9 things before stepping aboard.

The 35 richest families in America, ranked

I ate at Travis Kelce and Patrick Mahomes' steakhouse, 1587 Prime. These 9 details made for an unparalleled experience.

M&S to shed light on shopper response to cyber attack disruption

M&S to shed light on shopper response to cyber attack disruption

Premium Bonds prize checker: When is November’s NS&I draw and how can I check if I’ve won?

Ryan Rollins Shows He Could Become Second ‘Star’ For Milwaukee Bucks

Juventus Hire Luciano Spalletti In Latest Managerial Reboot

Wall Street Doesn't Grasp Meta's $65 Billion Spend (The Goal Is Personal Superintelligence)

YouTube TV Customers Lose ABC, ESPN And Other Disney Channels—What To Know

Trump Administration Could Strike Venezuela At ‘Any Moment,’ Report Says

Jeff Bezos Is $24 Billion Richer As Amazon Shares Hit Record

When Will Striker Yoane Wissa Make His Debut For Newcastle United?

A Disney ‘Star Wars’ Show Is Back With A 100% Rotten Tomatoes Score

NFL 2025 Fantasy Football Week 9 Best/Worst Matchups By Position

2025 WTA Finals: Top Players Blend Style And Branding

Friday, October 31. Russia’s War On Ukraine: News And Information From Ukraine

27 North American Cities Look To Host Rugby World Cup Matches In 2031

STN Digital And Zoomph Release 2025 WNBA Social Rankings And Insights Report

CBS News boss Bari Weiss saved pro-Israel reporter’s job after he lobbied to her directly: report

Amazon shares soar 11% on strong cloud growth, easing investor fears over AI spending

Martin Lewis slams O2 for ‘mockery’ of Ofcom rules

Counting the money cost of menopause - and how to take control

‘A House Of Dynamite’s Ambiguous Ending Explained By Kathryn Bigelow

Everything We Know So Far About The 2026 Winter Olympics Opening Ceremony

Northern Lights Forecast: These States May See Aurora Borealis On Halloween

Jerome Powell’s Wednesday Press Conference Shows Why He Must Step Down

‘The Witcher’ Season 4 Fails To Debut At #1 On Netflix Amidst Awful Scores

WWE Saturday Night’s Main Event 41 Possible Surprises And Returns

UBS inches toward historic move to leave Switzerland — as it’s wooed by Trump administration: sources

Walkers discontinues iconic crisp brand after 50 years

Former TGI Fridays chief in move to snap up UK chain