Who Needs a Family CFO?

Having your own Chief Financial Officer for your family is imperative for several high-net-worth individuals (usually owners of small to medium-sized businesses) and young (but emerging wealth) individuals with around 10 million+ in assets. A family CFO is designed for folks in the above category who want/need a firm to act as a director of their business and financial affairs as well as consult with them regarding their personal affairs and family governance. With the number of millionaires in the U.S. approximating four million and growing each year, this market is seemingly elastic. A family office is an excellent resource for those individuals who want more than an accounting firm’s [basic] services for their family.