Tap into the specialized consulting and services that can help you and your family gain greater control over your wealth, from customized expense reporting to tax return preparation to consolidated portfolio reporting.
Families with substantial private wealth often need access to highly sophisticated solutions and broad resources to effectively manage the shifting complexities of their wealth.
Our highly credentialed Family Office Services professionals bring valuable scale and flexibility to the challenge of simplifying and managing your family’s boundless and complex financial life and affairs. Working closely with your Private Wealth Advisor, they can provide thoughtful guidance and custom-tailored solutions that give you greater ‘big picture’ clarity into your wealth.
Our approach
Merrill’s Family Office Services is dedicated to extending the reach and legacy of some of the nation’s most affluent families by listening intently, advising intelligently and executing skillfully, while offering families greater levels of control and confidentiality.
We recognize that while there are common elements to creating and enduring family enterprise, each family is unique in its interests, priorities and approach. You and your Private Wealth Advisor can work together to identify how you want to engage our extended team to deliver solutions tailored to your family’s needs.
Household Accounting Services
- Bill Pay
- Expense Management
- Household Payroll Administration
Tax Services
- Tax Planning
- Tax Compliance (personal, trust, gift and/or foundation)
- Tax Administration
Custom Financial Reporting
- Consolidated Portfolio
- Financial Statement
- Personal Cash Flow
Consulting & Administration
- Asset Acquisition/Disposition
- Risk Management Review
- General Administration & Coordination
Connect with a Merrill Private Wealth Advisor.
Frequently asked questions
A family office is a private financial management practice that serves to manage the investments and financial affairs of a single wealthy family (known as a single-family office) or group of families (known as a multi-family office). In general, family offices are run by and for the exclusive benefit of their family clients and offer services that include data aggregation and reporting; comprehensive financial insights; financial oversight and administration; accounting and tax services; family and financial planning and consulting; treasury management and bill payment; and/or customized lending.
In general, there are two types of family office. A single-family office that serves to manage the investments and financial affairs of one wealthy individual or family; or a multi-family office that serves the needs of a small group of individuals and/or families. Many large investment companies, banks and trust companies also offer a wide range of family office services that can be accessed by wealthy individuals and families.
Typically, a wealthy individual or family will have at least $250 million in assets before considering setting up a single-family office. Those with assets below this amount often utilize a multi-family office where these services are shared across a set of families.
A multi-family office is a private financial management practice that serves to manage the investments and financial affairs of a small group of wealthy individuals or families. In general, family offices offer services that help families manage the complexities of substantial private wealth with sophisticated solutions and access to institutional-level financial resources, delivered through a focused advisory relationship.
A single-family office is a private financial management practice that serves to manage the investments and financial affairs of a single wealthy individual or family. In general, family offices offer services that help families manage the complexities of substantial private wealth with sophisticated solutions and access to institutional-level financial resources, delivered through a focused advisory relationship.
The SEC family office rule is an exemption that allows family offices to avoid registration under and regulation by the Advisers Act, in the cases where the office:
- Provides investment advice about securities only to “family clients,” as defined by the rule;
- Is wholly owned by “family clients” and is exclusively controlled by “family members” and/or “family entities,” as defined by the rule; and
- Does not hold itself out to the public as an investment adviser.
Merrill Family Office Services are offered through MLPF&S. In connection with its Family Office Services, Merrill is not acting in the capacity as a broker-dealer, nor as a registered investment adviser. Accordingly, through its Family Office Services, Merrill is not offering, and its clients are not paying for, advice with respect to securities, the purchase or sale of securities, or the valuation thereof, nor do Family Office Services encompass financial planning, discretionary account management, or any other securities-related accounts, products or services.
Merrill offers a broad array of brokerage and investment advisory accounts, products and services through other parts of its business outside of Family Office Services, which are subject to separate agreements, disclosures and fee arrangements, and may be procured by applying or enrolling and contracting through those other business channels. Please contact your Private Wealth Advisor with questions regarding Merrill’s brokerage or investment advisory offerings.
Family Office Services can provide tax advice; however, Merrill, its affiliates and financial advisors do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.