What is a Family Office?

Wealthy families like the Rothchilds and the Rockefellers realized long ago that their affairs were complex and they needed more than casual help from their accountants or lawyers. They needed full-time personnel who knew tax planning, investment management, alternative investments and estate planning; they needed budgeting, bookkeeping, accounting and tax compliance, as well as insurance services, property management and advice on how to manage their businesses and plan for their children and grandchildren. So they established permanent "family offices" and hired professionals to look after all their financial management.

Today, more and more successful families are being overwhelmed by the sheer extent and complexity of their financial lives. Those with over $200 million can afford to put a management team in place. Those with less than $2 million can do it themselves. For the growing number of wealthy families in between, the integrated Family Office concept, such as we offer at Kerr Financial, is the ideal solution for obtaining complete financial management from a highly qualified team of professionals in one central location, be it Toronto or Montreal.

While the Family Office concept may be relatively new in Canada, the financial management business is not. We have been doing planning and management of financial affairs for successful families for over 25 years, and look forward to doing so for the next 25 years too.