Decoding Family Office
Family offices, or FOs, are becoming increasingly popular. These are primarily set up to preserve family fortunes, but they also focus on non financial goals such as education or philanthropy. However, there must be a clearly defined objective for setting up a family office, and the entire family should be aligned with it. Globally, family offices are set up by ultra high net worth families with an investible corpus of $250 million (Rs 1,664 crore) or more. In India, this amount could start from Rs 100 crore.
A Single Family Office, or SFO, can be set up to look after the assets of one family, and the financial goals would include evaluating investment avenues and monitoring investments and cash flows. An SFO could be run by a member of the family or by a professional CEO. Having
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