How much does it cost to have a family office?

Operating costs for family offices vary significantly based on size and complexity. Single Family Offices typically cost $1-3 million annually for dedicated operations, while Multi-Family Office arrangements charge 0.5-1.5% of assets under management. Additional expenses include legal and tax advisory services, concierge offerings, philanthropy coordination, and specialized consulting. Costs can increase substantially when families require extensive lifestyle management, complex trust structures, or international coordination across multiple jurisdictions.