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Dec 10, 2008

Concept of Family Office - Know it?

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Often you may hear the concept of the Family Office. But many wonder what exactly does the meaning of family office. The concept has been getting more fame of late. However it is a concept of foreign countries, and has been there in their systems. If it's new for it just learn fast, don't stop by here.

A family office is a private company that manages investments and trusts for a single wealthy family. The company's financial capital is the family's own wealth, often accumulated over many family generations. Traditional family offices provide personal services such as managing household staff and making travel arrangements, according to Wikipedia.

If your among the people those are capable and believe in themselves, the concept of family office is appropriate for you. This concept will not only employ you but make you and your family efficient. However, do remembers that efficient in providing the best service is the only mantra to stick in this competitive world.

People those jump into such concept without having proper plan may suffer. Do well preparation before any venture. According to some reports, around 100 cr is required to start a family office and need to depend on the outsource. Finally, the concept may be well but too depends on you caliber than confidence. If your planning to start on Family Office then just think again - have you completed your ground work first?


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