RAA Capital is a private investment firm & family office.
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What Are Family Offices?
Family Offices offer wealthy families a way to manage the many affairs in their lives, from legal to financial to personal. Family offices can be private companies, banks, law firms, accounting firms, or even family administrators that help to run and preserve the wealthy family’s estate for generations to come. The financial capital for family office services comes from the family’s wealth.
What are Family Office Services?
Services offered by family offices include family governance, management of finances and investments, legal advice, philanthropy coordination, and planning succession. The family offices of today usually fall into one of three types: Class A, Class B or Class C. Class A family offices are run by private companies authorized by a family trustee or administrator. Class B family offices are run by a bank, accountant, or legal firm. Class C family offices are run by the family with the help of small team of employees. Families may want to employ a Class A-type family office if the services they need are quite comprehensive. Class B family offices can aid in wealth management and advice, but their services are typically limited to liquid assets. Class C family offices are most suitable for families that do not have a lot of complicated needs.
There are many benefits to employing the services of family offices. With all the details that go into the running of a wealthy family, enlisting the help of those with the experience, skill, and expertise can greatly simplify the job of managing a family’s investments and interests. Families can benefit greatly from professionals who have the experience and education in performing specific services.
Family offices’ qualified and professional teams typically provide families with a comprehensive, overall strategy that will guide practices to meet the families’ needs and requirements. The family offices can also provide reports to evaluate the progress and success of services rendered and to make any adjustments needed. Wealthy families often find it time-consuming and costly to oversee the management of all affairs and may not know how to bring about the best results possible. Through outsourcing some of the family office services, families can benefit from the specialized expertise of others and make the most of their assets.
There are many avenues today for finding the right family office with the right services. Families can use social networking to find references from other wealthy families or join online social boards that discuss family offices and their services. Families can also simply do an Internet search and investigate the results by either calling or emailing the family offices. There are many online forums as well as listing services dedicated to connecting families with family offices.
To find and hire the most suitable family office for your needs, there are different factors you will want to take into consideration in the decision process. Families should examine the family office’s management and services offered to see if they are aligned with their interests, as well as review all associated fees before entering into any legal agreements, commitments, or obligations. Family offices should be highly reliable and trustworthy. Families should make sure they understand the family office’s qualifications, experience, client testimonials, certifications, and track records.
Recent Investments
A leading mobility solutions company.
Black Gaming, a local market-focused gaming and hospitality company.
American Midstream Partners
