What is a “lifestyle concierge” service of family offices?
A “lifestyle concierge” service, as offered by family offices, refers to providing personalised assistance and managing non-financial aspects of a family’s daily life. The objective of this service is to enhance convenience, save time, and support a luxurious and well-organised lifestyle. This service is designed for high-net-worth (HNW) and ultra-high-net-worth (UHNW) families, with the objective of fulfilling their personal, travel, and household needs with the same level of precision and care that is applied to their financial affairs.
The scope of lifestyle concierge services is extensive and can be tailored to the specific needs and preferences of each family member. Such tasks may include the arrangement of luxury travel itineraries, the securing of reservations at exclusive restaurants or events, the management of household staff, and the oversight of the maintenance of multiple residences. The service is intentionally comprehensive in scope and designed to meet the diverse and evolving needs of affluent families.
One of the fundamental advantages of lifestyle concierge services is the consolidation of personal management tasks. For families responsible for managing multiple properties, yachts, private jets, or extensive art collections, the concierge service provides a comprehensive solution that eliminates the stress of logistics and operational details. By delegating these responsibilities to the family office, families can concentrate on their personal and professional endeavours without distraction.
Furthermore, lifestyle concierge services frequently extend into domains of personal growth and well-being. Family offices may coordinate wellness programmes, secure private tutors, or facilitate distinctive experiences such as exclusive art tours, bespoke shopping events, or private cultural performances. The objective is to create value beyond wealth by enhancing the overall quality of life for family members.
Additionally, discretion and confidentiality are of paramount importance. Family offices are uniquely positioned to handle sensitive personal arrangements while maintaining privacy.
Picture source: Unsplash+