What does a family office do? All tasks & services explained

What does a family office do? The tasks at a glance

A family office is the private control centre of a wealthy family: it makes sure everything works together that arises beyond business. The task list is long – and that is exactly the point: the family has one address instead of twenty individual contacts.

• Care of residences, holiday properties and household staff
• Travel, event and lifestyle organisation
• School, residence and relocation matters of the family
• Private administration: documents, contracts, insurance, deadlines
• Coordination of external advisers: lawyers, trustees, banks, tax advisers
• Wealth structuring and investment – only at financial family offices

Single family office vs. multi family office

A single family office works exclusively for one family – often with its own staff, its own premises and costs frequently running into seven figures per year. A multi family office serves several families and shares the infrastructure. Both models pursue the same purpose: the family should be relieved without having to run an organisation themselves.

Family office does not automatically mean wealth management

The term is often equated with investment and wealth management. In fact, it covers two worlds: the financial side – investment, taxes, structuring – and the private side: property, staff, travel and daily life. Some family offices cover both, others focus on the private side and cooperate with the family's existing advisers for financial matters.

When does a family office pay off?

The industry rule of thumb says: from roughly 50 to 100 million francs of family wealth, a dedicated single family office carries itself. But the real threshold is not wealth, it is complexity: several residences, international family circumstances, household staff, foundations, frequent travel. Anyone who spends more time organising their private life than living it is ready for the solution – regardless of the account balance.

The pragmatic alternative: an external family office

Those who need the services but do not want to build their own organisation use an external family office: the same bundling and discretion, but as a flexible monthly mandate instead of seven-figure fixed costs – and possible for several families at once. Swiss PA Services works exactly this way – one dedicated contact for residences, staff, travel, family and administration, from Baarerstrasse 43 in Zug, discreet and in German and English.

Conclusion: it is not about money, it is about time

What does a family office do? It gives a family back its most valuable resource: time and headspace. Whether single, multi or external – what matters is that someone holds the whole picture together. If that is what you are looking for, get in touch: we reply within 24 hours, discreetly and without obligation.