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• Multi Family Office This is set up to manage the wealth of multiple families and may even include non-family members as clients. Economies of scale can reduce the cost of services. A larger pool of assets can increase access to investment opportunities or investment talent. However, set against this is the potential for less family control, involvement and privacy. Considering the rising generation When you are deciding which structure is right for your needs, remember that the right family office today may look very different in the future. It is likely to evolve over time, especially as younger generations take on leadership and decision-making roles.
Types of family office There is a full spectrum of family office structures, ranging from smaller, fully outsourced operations to complex, regulated entities. Like the family business, the family office can be structured with clear governance in terms of which family members have control, input, oversight, and the processes and reporting for decision-making. Three structures that we typically see are: • Embedded Family Office Here, the family office is embedded into the operating business. There’s no need to set up a new entity and existing operational infrastructure can be used to run the office. Some services may still need to be outsourced and it’s vital to consider what happens if the business is sold or if external investors are sought. • Single Family Office (SFO) This is established and resourced to serve the needs of one family. An SFO offers the highest degree of privacy, flexibility and an in-house team dedicated to supporting your needs. Clearly, this highly bespoke approach can mean increased operational costs, but a well-run SFO can also attract top talent.
“Remember, the right family office today may look very different in the future.” A structure that has the flexibility to support this
generational evolution is key. With the right arrangement, you can ensure the optimal balance between continuity and change, and between centralised efficiency and range. This allows each family member, wherever they are, to have their needs serviced and their voice heard.
Scope of family office services
FINANCIAL
FAMILY AND SUCCESSION
LIFESTYLE AND OTHER
Family holidays and retreats Concierge and lifestyle
Family governance Estate planning and fiduciary services Philanthropy Education Succession planning
Investments Banking and custody Financing Tax and accounting Risk management
How can we help Drawing on insights and lessons learned from working with U.K. and global families over many years, J.P. Morgan recognises that growing a business is ultimately about building something that endures for generations. We can support your family office and personal wealth management needs. For more, read our J.P. Morgan Family Office 2026 Report. https://privatebank.jpmorgan.com/eur/en/insights/reports/2026-family-office-report. We would be delighted to share further insights informed by our long-standing work with families.
Authors:
To learn more contact:
Stewart Frost Managing Director J.P. Morgan Private Bank
Maya Prabhu Managing Director J.P. Morgan Private Bank
“J.P. Morgan Private Bank” is the marketing name for private banking services offered through JPMorgan Chase and its subsidiaries worldwide. © 2026 JPMorgan Chase & Co. All rights reserved.
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