Where to locate a billionaire family office
Built on Chapter 6 of The Single Family Office by Richard C. Wilson. Full chapter text: FamilyOffices.com.
Choose the office location by examining the work the team must do and the people it needs to serve. A billionaire family may live in one place, own assets in several others, and employ specialists elsewhere. Those facts deserve separate analysis before the family commits to a lease or announces a headquarters.
Chapter 6 distinguishes where a team is based from where assets are domiciled. I would keep those questions separate throughout the location decision. The address on the office door cannot answer every legal, tax, or operating question.
Start with the service requirements
List the work requiring regular personal contact. The founder may want daily access to the lead executive. A direct-investment team may need to visit operating companies. A reporting function may depend more on reliable records and specialist staff than on proximity to the family home.
Decide which requirements are essential and which reflect habit. An office that exists mainly to coordinate specialists may need a different physical presence from a team supervising operating assets.
Use actual calendars and responsibilities in the comparison. If a location requires constant travel to complete normal work, include that burden in the decision and operating budget.
Evaluate the talent available
Identify the roles the family needs and the depth of the relevant hiring market. A location attractive to the founder may be difficult for a specialist executive or their household. Recruiting assumptions should be tested before a permanent office is selected.
In conversations about office location, I discuss the importance of a capable executive assistant and the practical work that person can take on. The broader lesson is to evaluate people by the responsibilities they can carry. A location choice should support the team the family actually needs.
Consider backup coverage as well. A market with one suitable professional may create dependence if that person leaves. Outside providers can help cover gaps, but someone must coordinate their work.
Give advisors the real geographic facts
Provide qualified advisors with where people will live and work, where decisions will occur, and where assets and entities sit. Ask them to evaluate the proposed arrangement before implementation.
Do not assume that an entity address settles the treatment of activity performed elsewhere. The family needs advice on its actual circumstances, including cross-border work if that is involved.
Keep a record of the assumptions used in the advice. If executives later relocate or the family changes its pattern of involvement, the office can identify which questions need to be revisited.
Compare the full operating cost
Include recruitment, travel, technology, and physical security alongside space. A cheaper lease may come with a more expensive service model. An expensive location may still fail to provide the talent or access the family needs.
Decide which functions need dedicated space. Some sensitive work may require controlled access even in an otherwise distributed office. Ask the people responsible for information security to assess the proposed working arrangements.
Avoid building for an image of a large institution before the service scope is clear. The family can increase space as recurring work and staffing justify it.
Plan for continuity across locations
A distributed team needs clear records and decision routes. Document who handles a time-sensitive request when the founder and executives are in different time zones. Approval authority should not depend on finding someone in a particular building.
Test access to essential records and backup responsibilities. Staff should be able to complete authorized work when travel or a local disruption prevents normal attendance.
Keep communication expectations realistic. A family office can use outside specialists in different places while maintaining one person responsible for coordinating the overall service.
Look at who can carry the administrative load
On the practical contribution of executive support, I explain how capable executive assistance supports investors. I describe paperwork, calendar management, and follow-up as work that an effective assistant can take off the principal's desk. I also say I look for someone who has handled demanding work in a law firm or another fast-moving organization. For a location decision, I would use that experience to test the labor market. Can the office recruit someone who can handle its actual administrative burden? A prestigious address does not answer that question, and remote work still needs clear responsibility for physical records and local tasks.
What to take from this
- Separate team location from asset and entity questions.
- Choose around actual service needs and available talent.
- Ask advisors to examine where work and decisions will occur.
- Compare the full operating model before committing to space.
Have the proposed lead executive describe a normal month from each shortlisted location. Include travel and the work that would be difficult to complete. Use that schedule in the final comparison.
This page is general information, not legal advice. Family governance documents and dispute processes should be reviewed by a qualified attorney.
Questions and answers
Must the office be near the founder? Some families need frequent personal contact. Others can coordinate a distributed team. Define the service requirements before deciding.
Does the headquarters address determine every legal question? No. Qualified advisors should evaluate the actual people, assets, and activities involved.
Should a new office sign a large lease first? Define the service scope and staffing needs before making a long-term space commitment.