Dustin Eldridge, CFP®, CPWA®
What is a Multi-Family Office?
Updated: Jun 6, 2022
A multi-family office is a wealth management firm that supports multiple families in all areas that impact their wealth.
The easiest way to explain what a family office looks like for an NFL player is that it is a combination of the services you receive from a business manager and a financial advisor in one company.
Most NFL players work with both a business manager and a financial advisor.
Typically, the business manager handles the players administrative needs (paying bills and personal staff), tax preparation/filing, obtaining insurance and some contract or estate document review. However, they do not help you with your investments or banking needs.
This means an NFL player also has to hire a financial advisor. Often, they hire an advisor who works at a big bank or an insurance company. Financial advisors at these companies can help with investments, bank products and insurance products but are limited in the advice they can give you from a tax, estate and private investment perspective.
Two separate services, creating unnecessary complexity for you as an NFL Player.
As a multi-family office, TEAM Private Wealth Management is able to offer the same services as a business manager and a financial advisor in one place. Thereby, simplifying your life and most likely saving you time and money along the way.
Keep following to find out more and see why TEAM Private Wealth Management is The Elite Athlete’s Multi-Family Office.