In order to address the needs and wants of certain unique wealthy populations, multi-family offices are continually developing new operational structures. One example of this is the celebrity multi-family office, which is designed to meet the needs and wants of highly successful entertainers and athletes.
“Celebrities can especially benefit from the coordinated approach, characteristic of a multi-family office,” explains Richard Flynn, principal with the Rothstein Kass family office group. “Of course, the staff must be expert at overseeing the integration of investment management, advanced planning, private investment banking, business strategy, and related support services.”