Understanding Family Office – Definition, Purpose, and Benefits Explained

02 Sep 2025

Family Office Definition: What It Really Means

A family office is a central platform for managing family wealth and governance. It coordinates financial affairs, investment oversight, and selected personal services. Unlike a bank or law firm, it is not a licensed advisor. Instead, it is an operating model that unites tax experts, lawyers, and investment advisors within one framework. This integration streamlines services, reduces duplication, and improves communication for families.

At its core, a family office delivers:

Investment oversight across asset classes, with performance tracked against family objectives.
Wealth management discipline, ensuring expenses, reporting, and risks are controlled.
Family governance support, clarifying roles, and guiding collective decisions.
Education for younger family members, preparing them for financial stewardship.

The value lies in coordination. By aligning advisors, managers, and family members, a family office drives wealth preservation, tax planning, and governance toward continuity across generations.

History and Evolution of the Traditional Family Office

Family offices began in the 19th century as estate offices managing land, accounts, and staff for wealthy families. These early traditional family offices centralized one family’s wealth and affairs, focused on stewardship: preserving property, securing heirs, and keeping records accurate.

As wealth shifted from land to financial assets, the family office model expanded.

Early 20th century: Oversight of securities, trusts, and family businesses.
Post–World War II: Broader wealth management, tax planning, and philanthropy.
Today: Coordination hubs that manage public markets, private equity, venture capital, and real estate, while also supporting governance and succession planning.

The purpose has stayed consistent: protect and grow family wealth while ensuring smooth intergenerational transfer.

The Term Family Office: Origins and Modern Meaning

Originally, “family office” described a single-family office (SFO) serving one wealthy household.

Today, the term covers several structures:

Single-family office (SFO): Dedicated resources for one family, with full control and confidentiality.
Multi-family office (MFO): Shared infrastructure and advisors serving more than one family, offering scale and cost efficiency. MFOs provide shared expertise by pooling knowledge and resources from serving multiple families, which enhances the quality of wealth management services.
Outsourced family office: Coordination without a permanent in-house team, with licensed providers delivering legal, tax, and investment services.

Types of Family Office Explained

Not all family offices operate the same way. The right structure depends on family wealth, complexity of financial affairs, and governance needs. The three most common types of family offices are:

Single-family offices (SFOs): Built for one family, usually ultra-wealthy families or those with large operating businesses. An SFO centralizes investment management, tax planning, and administration under one roof. Legal and tax services are delivered by licensed professionals, but the dedicated team ensures oversight and continuity.
Multi-family office (MFO): Serves more than one family, sharing infrastructure, advisors, and reporting systems. MFOs coordinate wealth management, investment strategies, and family governance across multiple families. They provide scale and efficiency while maintaining access to top-tier investment advisors, asset managers, and specialists.
Outsourced / Virtual family office: A growing model where families retain control of data and strategy but rely on external providers for services such as tax planning, property management, or succession planning. A virtual family office delivers personalized services with flexibility, without the cost of hiring a full-time in-house team.

Whether serving a single family or multiple families, these offices deliver customized solutions tailored to each family’s specific needs, risk tolerance, and long-term vision.

Single Family Office vs Multi Family Offices

A single-family office serves one family, giving maximum privacy and control. By contrast, many family offices today operate as multi-family platforms, offering professional depth and lower cost by pooling resources. Both structures provide wealth preservation and governance, but the trade-off is between exclusivity and efficiency.

Multi-Family Office Benefits

Multi-family offices provide:

Investment oversight across asset classes with consolidated reporting.
Wealth management solutions scaled for multiple families.
Access to specialists in tax planning, charitable giving, and succession planning.
Selected concierge services, such as lifestyle management or family education for younger family members.

The result is a balanced platform that is cost-effective, professionalized, and designed to support both family values and long-term continuity.

Outsourced Family Office Models

An outsourced family office allows families to coordinate financial affairs without building an in-house structure. Licensed investment advisors, lawyers, and CPAs provide the regulated work. The family office experts focus on integration:

Aligning investment portfolios with family values
Coordinating legal matters and tax planning
Supporting governance, family meetings, and the education of younger family members

The virtual family office is a variation where the family retains ownership of sensitive data while services are delivered by experienced professionals on demand. This model is especially attractive for high-net-worth families seeking flexibility, confidentiality, and lower cost.

Services Offered by Family Offices

Family offices deliver a wide range of services that touch every aspect of wealth, governance, and family life. The table below summarizes the core service areas, what advisors typically do, and the benefits for families.

Service Area	What Advisors Do	Benefit to Families
Investment Management	Design strategies, diversify across asset classes, and oversee direct and private investments	Align portfolios with goals, manage risk, and secure growth across generations
Wealth Management	Structure holdings, monitor spending, manage liquidity, and budgets	Ensure wealth preservation, efficiency, and control over the family’s assets
Tax Planning	Coordinate with CPAs on filings, cross-border compliance,and optimize capital gains	Minimize penalties, reduce tax drag, and support long-term tax efficiency
Legal Affairs	Manage trusts, estates, shareholder agreements, and governance compliance	Protect assets, reduce disputes, and enable smooth succession planning
Family Governance	Facilitate charters, family meetings, decision protocols, and education for younger members	Strengthen family unity, align values, and prepare future leaders
Succession Planning	Prepare heirs, plan leadership transition, coordinate ownership structures	Ensure continuity of family business and intergenerational wealth transfer
Philanthropy & Giving	Structure foundations, donor-advised funds (DAFs), trusts	Align giving with values, create impact, and capture tax advantages
Property Management	Oversee residences, commercial real estate, and vetted service providers	Maintain lifestyle quality, ensure privacy, and protect real estate investments
Lifestyle Management	Manage travel, wellness, education, and concierge services	Simplify daily life while safeguarding long-term continuity
Education & Training	Provide financial education to younger family members and stewardship training	Prepare heirs to manage financial and personal affairs responsibly
Administration & Reporting	Consolidate reporting, monitor cash flows, and maintain compliance records	Improve transparency, accountability, and decision-making efficiency

Investment Management and Asset Classes

Family offices provide investment management by coordinating across multiple asset classes. Portfolios are executed through licensed investment advisors and external asset managers who bring professional oversight and due diligence.

Common allocations include:

Public equity and fixed income
Private equity, venture capital, and hedge funds
Commercial real estate and direct investments

Diversification across these asset classes supports wealth preservation and aligns portfolios with family objectives.

Investment Strategies

Investment strategies in family offices are designed to reflect both financial objectives and family values. Portfolios are monitored by experienced investment advisors to balance growth, risk, and liquidity needs.

Key principles:

Match risk appetite to long-term family wealth goals
Incorporate succession planning and liquidity events
Preserve capital for future generations while funding philanthropy or family business needs

Wealth Management and Preservation Approaches

Beyond investments, family offices deliver wealth management solutions that protect and grow assets across multiple generations. Family offices coordinate efforts to manage, protect, and transfer the family’s wealth across generations. Strategies integrate wealth management, family governance, and succession planning to ensure continuity.

Typical services provided include:

Structuring holdings for tax efficiency and wealth preservation
Monitoring spending and budgets for family members
Designing governance models that align financial strategy with family values

This comprehensive approach supports both family unity and the family’s long-term legacy.

Tax Planning and Legal Affairs in Family Offices

Tax planning and legal matters are critical services offered by family offices. Licensed CPAs and legal counsel lead this work, while the family office coordinates to ensure compliance and efficiency.

Scope of services:

Managing tax services across jurisdictions
Coordinating cross-border structures for high-net-worth families
Overseeing legal affairs related to trusts, estates, and family business ownership

By integrating advisors, the office reduces risk and supports compliant, tax-efficient wealth structures.

Property Management and Lifestyle Management

Many family offices also oversee property management and selected lifestyle management needs. This involves coordinating trusted service providers for residences, travel, and wellness, ensuring privacy and quality.

Examples include:

Vetted property managers for residential and commercial holdings
Concierge services for travel, education, and wellness
Personalized services tailored to younger family members and their needs

These services show that the scope of a family office extends beyond finance, covering daily needs as well as continuity.

Family Governance, Legacy, and Wealth Preservation

Strong governance is the foundation of continuity. Family governance frameworks help ultra-high net worth and affluent families protect the family’s assets while maintaining family unity.

Family offices play a central role in protecting and passing down the family’s legacy, including values, traditions, and cultural heritage, through structured governance and intergenerational planning.

Unlike a private wealth management firm or a private bank, which focus narrowly on financial products, a family office integrates governance, wealth planning, and education to preserve wealth across generations.

Family Wealth Preservation

Family offices provide more than investment portfolio management. They coordinate asset management, oversee financial planning, and enforce disciplined spending policies that safeguard family wealth.

Services provided include:

Designing wealth transfer planning strategies for multigenerational continuity
Embedding liquidity rules that protect family members and future generations
Applying structured risk management to governance and investments

Succession Planning for Future Generations

Succession planning protects both wealth and leadership. Done well, it prepares families to protect their business, their assets, and their legacy.

Focus areas include:

Ownership transfers tailored to one family office or to multiple families
Preparing younger family members for financial stewardship and leadership roles
Coordinating structures for philanthropy, charitable giving, and tax-efficient legal matters

Family Education for Younger Family Members

Education bridges wealth and responsibility. Family offices provide family education that prepares heirs to manage both financial affairs and governance.

Core elements include:

Basics of financial planning and wealth management
Training on how investment advisors and asset managers oversee portfolios
Embedding family values and long-term responsibility into governance

Family offices ensure that education and decision-making processes are aligned with the family’s values to preserve them across generations.

This equips heirs to manage both financial and personal affairs with confidence.

Family Legacy and Family Values

Legacy extends beyond wealth transfer. It reflects how families align their resources with mission and principles. Offices embed family values into governance, philanthropy, and education.

Examples include:

Linking investments to the family’s legacy and long-term vision
Coordinating charitable giving with governance and financial oversight
Ensuring financial outcomes reflect agreed principles and family values

The Role of Family Meetings and Communication

Structured family meetings reinforce governance by aligning family members and creating transparency. Unlike reports from a private wealth management firm, these meetings integrate financial updates with education and governance.

Topics often covered include:

Performance of investment portfolios and wealth management solutions
Updates on tax planning, legal affairs, and compliance
Dialogue on governance, education, and succession planning

Through consistent communication, families align expectations and strengthen family wealth preservation.

Direct Investments in Private Companies

Family offices often pursue direct investments in private companies and family-owned businesses. A dedicated team evaluates opportunities, seeking favorable entry points and the ability to influence governance. Unlike a private bank, which typically provides only financing, a family office aligns investments with financial planning and long-term objectives.

Direct investments also serve a strategic purpose:

Support growth in sectors that align with family values or existing businesses
Improve control over capital allocation and governance
Create opportunities for wealth preservation and continuity across future generations

This model allows families to keep decision-making close while protecting both their businesses and their broader family affairs.

Family Offices Provide More Than Capital

Family offices provide far more than financial capital. They often contribute strategic input, governance oversight, and operational expertise. Family office experts and experienced professionals may join boards, connect management with networks, or advise on risk and compliance.

These are comprehensive services, extending beyond finance into areas that institutional investors rarely cover:

Alignment of investments with succession planning and wealth transfer planning
Consideration of personal affairs and the impact on family members
Protecting the reputation and unity of families that operate through a family office.

By offering both governance and capital, family offices differentiate themselves from other investors and ensure investments serve both financial and legacy objectives.

Private Investments and Alternative Asset Classes

Beyond listed markets, families increasingly explore private investments across a range of asset classes. These include private credit, venture capital, hedge funds, and commercial real estate. Offices coordinate with specialist managers to diversify risk and align portfolios with family goals.

For other wealthy families and high-net-worth families, the motivation is clear:

Broader diversification for wealth management and wealth planning
Enhanced returns compared with traditional products from a private wealth management firm
Integration with governance, philanthropy, and the family’s legacy

When managed carefully, private investments reinforce both wealth preservation and long-term continuity, balancing financial returns with the stability of personal affairs.

Managing Wealth and Legacy

Families with dedicated offices manage more than balance sheets. They focus on family wealth, governance, and alignment with family values across multiple generations. This includes not only investment oversight but also stewardship of financial affairs and even personal affairs.

For affluent families and other wealthy families, the family office acts as the platform that protects the family’s legacy. It ensures that family members benefit from disciplined family governance, structured oversight, and continuity. By linking wealth transfer planning, philanthropy, and education, families create a system that sustains both prosperity and purpose.

Charitable Giving and Philanthropy in Family Offices

Philanthropy is an essential part of legacy planning. Family offices provide structured approaches to charitable giving by coordinating with legal and tax advisors. Foundations, donor-advised funds (DAFs), and trusts are common services offered, with the office ensuring both compliance and impact.

Experienced professionals and a dedicated team support this process by:

Embedding philanthropy into long-term tax planning and legal affairs
Ensuring compliance with legal matters across jurisdictions
Designing frameworks that reflect family values while promoting measurable outcomes

Governance and Family Unity Across Generations

Sustaining family unity requires more than wealth. Strong family governance integrates the family business, investment oversight, and structured decision-making. Regular family meetings provide a forum for reporting and dialogue among family members.

High net worth families and affluent families often rely on governance to:

Balance ownership interests in the family business
Guide succession planning and next-generation readiness
Oversee both family affairs and personal affairs to reduce conflict

The outcome is resilience. With clear governance, families with offices achieve wealth preservation, protect the family’s legacy, and ensure continuity for future generations.

Private Wealth Management Firm vs Family Office

A private wealth management firm offers investment products and financial advice. A family office, by contrast, provides comprehensive services that coordinate financial affairs, governance, and administration. This includes concierge services, personalized services, and oversight of the family’s investments, while licensed professionals handle tax planning and legal affairs.

Family offices provide what firms cannot:

Integration of wealth management solutions with governance and reporting
Oversight of the family’s assets, including both financial and non-financial holdings, and personal affairs beyond portfolios, to ensure comprehensive management
Access to family office experts and experienced professionals who ensure alignment with family values

The distinction is clear. A family office is defined by scope and integration, not just by assets under management. And not all family offices operate alike. The model depends on complexity, governance needs, and family objectives.

Family Business Integration with Family Offices

For wealthy families and high-net-worth families, the family business often represents the largest pool of capital and risk. Integrating that business with the family office strengthens oversight and ensures succession planning.

Services provided include:

Coordinating cash-flow planning and tax planning with corporate advisors
Managing ownership transfers, drafting shareholder agreements, restructuring estate vehicles, and ensuring compliance with corporate governance rules
Supporting family members and younger family members in preparing for leadership roles

A family office preserves both capital and continuity, aligning the family’s legacy with long-term operations. For affluent families, this integration reduces risk and sustains family unity across generations.

Role of Investment Advisors and Asset Managers

Investment advisors and asset managers are central to family office operations. They design and monitor investment portfolios, balancing risk and return across multiple asset classes.

Key areas of support:

Structuring investment strategies to align with family goals
Overseeing direct investments, private investments, and commercial real estate allocations
Applying disciplined risk management to protect capital
Delivering services offered by registered professionals under the guidance of the office

A dedicated team of experienced professionals ensures that governance, oversight, and reporting are tied to outcomes. By integrating expertise, family offices provide investment oversight that goes beyond markets and secures wealth for future generations.

Family Office Experts and Experienced Professionals

Effective family offices rely on family office experts and experienced professionals. These include tax advisors, lawyers, and registered investment advisors who guide decisions across complex structures. Their role is not to replace regulated providers of asset management or legal services but to coordinate them within a centralized governance framework.

For ultra-high net worth and affluent families, the advantage is clear: oversight stays aligned with governance, reporting, and family values. By keeping advisors coordinated, the office ensures continuity across financial affairs and long-term planning.

Comprehensive Services Provided by Family Offices

Family offices provide comprehensive services that include:

Investment oversight and disciplined investment portfolio management
Administration, consolidated reporting, and support for family members
Wealth planning, education for younger family members, and succession design
Charitable giving, philanthropy, and structuring for compliance
Coordination of tax planning and legal matters with licensed professionals

Unlike a private bank, which primarily delivers financial products, a family office integrates governance, education, and legacy-building into its daily operations. This breadth explains why families view the office as essential to continuity.

Not All Family Offices Are the Same

There is no single model that defines a family office. What works for one family office may not suit another. A traditional family office may serve a single wealthy household, while single-family offices and multi-family offices scale differently depending on needs.

Others adopt an outsourced family office model, retaining ownership of data while coordinating with external specialists. The scope varies: some keep governance, reporting, and education in-house, while others rely on external experienced professionals for structuring and compliance.

The takeaway is clear. Not all family offices are the same. Each reflects the unique mix of governance, risk oversight, and services required to protect family wealth for future generations.

The role of family offices continues to expand. As regulations tighten, asset classes diversify, and generations shift, offices will serve as the platform where wealth, governance, and family values converge. Unlike banks or advisors, the family office is defined by integration. For families seeking continuity, it remains the model that secures both prosperity and purpose for the next century.

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Upon expiration or earlier termination of this Agreement, the license granted hereunder shall also terminate, and Licensee shall cease using and destroy (to the extent reasonably practicable) all copies of the Software Platform. No expiration or termination shall affect Licensee’s obligation to pay all Licensee Fees that may have become due before such expiration or termination, or entitle Licensee to any refund, in each case except as set forth in Clause 11.3.

Limited Warranties, Exclusive Remedy and Disclaimer/Warranty Disclaimer.

The Company warrants that, during the Term, the Software will substantially contain the functionality described in the Documentation, and when properly accessed and used on a computer (as per requirements specified in the Documentation) and operated in accordance with the Documentation the Software shall substantially perform in accordance therewith. However, the Company does not represent or warrant that any and/or all errors will be corrected and that any and/or all incidents will be prevented or corrected.
The warranties expressly set forth in this Clause will not apply and will become null and void (i) if Licensee breaches any provision of this Agreement, and/or (ii) if Licensee and/or any Authorized User and/or any other Person to whom access to the Software is provided , whether or not in violation of this Agreement:
uses the Software Platform on or in connection with any hardware or software not specified in the Documentation, provided that the warranties in this Section shall continue to apply to Software that is installed or used on any hardware, software, configuration or operating system in accordance with the Documentation; or
misuses the Software, including any use of the Software other than as specified in the Documentation.
During the Term of this Agreement, if the Software fails to perform substantially in accordance with the Documentation, and such failure is not excluded from warranty pursuant to Clause 12.1, the Company will, at its sole option, use commercially reasonable efforts to repair the Software, provided that Licensee provides Company with all information which the Company requests to resolve the reported failure, including sufficient information to enable the Company to recreate such failure. Provided further that, the Licensee shall within 5 days after such failure has occurred, notify in writing to the Company informing about the failure. The Licensee acknowledges and agrees that the Software Platform may produce inaccurate results because of a failure or fault within the Software Platform for reasons not attributable to the Company or failure by Licensee to properly use and/or deploy the Software Platform. The Licensee assumes full and sole responsibility for any use of the Software Platform and bears the entire risk for failures or faults within the Software Platform on account of reasons not attributable to the Company. Licensee agrees that regardless of the cause of failure or fault or the form of any claim, the Company’s obligation if any shall be governed by this Agreement. Further, the Licensee acknowledges that the remedies set forth in this Clause 12.3 are Licensee’s sole remedies and Company’s sole liability with respect to the warranties provided in this Clause 12.
The software and documentation are provided to licensee on an “as is where is” basis and with all faults and defects without warranty of any kind other than as expressly set forth in this Clause 12. The Company, on its own behalf and on behalf of its affiliates expressly disclaims all warranties, whether express, implied, statutory or otherwise, with respect to the software and documentation, including all implied warranties of merchantability, fitness for a particular purpose, and warranties that may arise out of course of dealing, course of performance, usage or trade practice. Without limitation to the foregoing, the Company provides no warranty or undertaking, and makes no representation of any kind that the licensed Software Platform will meet the Licensee’s requirements, achieve any intended results, operate without interruption, meet any performance or reliability standards or be error free or that any errors or defects can or will be corrected.
The Licensee represents and warrants that it has due authorisations to enter into this Agreement and perform its obligations. Further, the Licensee represents and warrants that its is not barred under law, contractually or otherwise to enter into this Agreement and perform its obligations.

Limitation of liability

The Company and its affiliates, shall not be liable to the Licensee or to any third party for any use, interruption, delay or inability to use the software, lost revenues or profits, delays, interruption or loss of services, business or goodwill, loss or corruption of data, loss resulting from system or system service failure, malfunction or shutdown, failure to accurately transfer, read or transmit information, failure to update or provide correct information, system incompatibility or provision of incorrect compatibility information, or breaches in system security, or for any consequential, incidental, indirect, exemplary, special or punitive damages, whether arising out of or in connection with this agreement, breach of contract, tort (including negligence) or otherwise, regardless of whether such damages were foreseeable and whether or not the Licensee was advised of the possibility of such damages.
In no event will the Company’s and its affiliates’, collective aggregate liability under or in connection with this Agreement or its subject matter, under any legal or equitable theory, including breach of contract, tort (including negligence), strict liability and otherwise, exceed the total amount paid to the Company under this agreement for immediately preceding three month period.

Export Regulation.

The Software Platform may be subject to US export control laws, including the US Export Administration Act and its associated regulations. The Licensee shall not, directly or indirectly, export, re-export or release the Software Platform to, or make the Software Platform accessible from, any jurisdiction or country to which export, re-export or release is prohibited by law, rule or regulation. The Licensee shall comply with all applicable federal laws, regulations and rules, and complete all required undertakings (including obtaining any necessary export license or other governmental approval), prior to exporting, re-exporting, releasing or otherwise making the Software Platform available outside the US.

Indemnification

Licensee hereby agrees to indemnify the Company and its officers, directors, employees, agents, and representatives (“Indemnified Person”) from each and every demand, claim, loss, liability, or damage of any kind, including actual attorney’s/legal fees, whether in tort or contract, that may incur by reason of, or arising out of, any claim which is made by either the Licensee and/or any third party against the Indemnified Person with respect to any breach or violation of this Agreement by the Licensee or any claims based on Licensee’s and/or its client’s use of the Software Platform.

Miscellaneous.

Governing Law: This Agreement is governed by and construed in accordance with the internal laws of United States of America without giving effect to any choice or conflict of law provision or rule that would require or permit the application of the laws of any other jurisdiction. Any disputes arising from or related to this Agreement or any Company Software or service shall be subject to the exclusive jurisdiction and venue of the courts situated in New York, and both Parties hereby consent to such jurisdiction and venue.
Force Majeure: The Company will not be responsible or liable to the Licensee, or deemed in default or breach hereunder by reason of any failure or delay in the performance of its obligations hereunder where such failure or delay is lockdowns, due to strikes, labor disputes, civil disturbances, riot, rebellion, invasion, pandemic, epidemic, hostilities, war, terrorist attack, embargo, natural disaster, acts of God, flood, fire, sabotage, fluctuations or non-availability of electrical power, heat, light, air conditioning or any other circumstances caused beyond the Company’s reasonable control (“Force Majeure Event”). It is hereby clarified that the Licensee’s payment obligation shall continue during the Force Majeure Event.
Notices: All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by e-mail (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.
Entire Agreement: The terms and conditions of this Agreement, including its exhibits, constitutes the entire agreement between the parties with respect to the subject matter hereof, and merges and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions. Neither of the parties shall be bound by any conditions, definitions, warranties, understandings, or representations with respect to the subject matter hereof other than as expressly provided herein. The section headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. No oral explanation or oral information by either party hereto shall alter the meaning or interpretation of this Agreement. No amendments or modifications shall be effective unless in a writing signed by authorized representatives of both parties. These terms and conditions will prevail notwithstanding any different, conflicting or additional terms and conditions which may appear on any purchase order, acknowledgment or other writing not expressly incorporated into this Agreement.
Assignment:

a. Licensee shall not assign or otherwise transfer any of its rights, or delegate or otherwise transfer any of its obligations or performance, under this Agreement, in each case whether voluntarily, involuntarily, by operation of law or otherwise, without Company’s prior written consent, which consent Company may give or withhold in its sole discretion. For purposes of the preceding sentence, and without limiting its generality, any merger, consolidation or reorganization involving Licensee (regardless of whether Licensee is a surviving or disappearing entity) will be deemed to be a transfer of rights, obligations or performance under this Agreement for which Company’s prior written consent is required. No delegation or other transfer will relieve Licensee of any of its obligations or performance under this Agreement. Any purported assignment, delegation or transfer in violation of this Clause 16.5 is void. The Company may assign or otherwise transfer all or any of its rights, or delegate or otherwise transfer all or any of its obligations or performance, under this Agreement without Licensee’s consent. This Agreement is binding upon and inures to the benefit of the parties hereto and their respective permitted successors and assigns.

b. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer on any other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

Amendment and Waiver: This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. Failure or neglect by the Company to enforce at any time any of the provisions hereof shall not be construed nor shall be deemed to be a waiver of the Company’s rights hereunder nor in any way affect the validity of the whole or any part of this License nor prejudice the Company’s rights to take subsequent action.
Reservation of Rights and Remedies: The Company reserves all of its rights to proceed to enforce its rights in connection with all rights not expressly granted to the Licensee in this Agreement.
Severability: If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision shall to that extent be severed from the remaining terms, conditions and provisions which shall continue to be valid to the fullest extent permitted by law.
Interpretation: For purposes of this Agreement, (a) the words “include,” “includes” and “including” shall be deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. Unless the context otherwise requires, references herein: (x) to Sections and Exhibits refer to the Sections of, and Exhibits attached to, this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The headings in this Agreement are for reference only and do not affect the interpretation of this Agreement.
Independent Development: This Agreement does not preclude the Company from evaluating, acquiring from third parties not a party to this Agreement, independently developing or marketing similar technologies or products, or making and entering into similar arrangements with other companies. The Company is not restricted by this Agreement to make such products or technologies available to third parties.
Disclaimer: The Software Platform is subject to the Disclaimer set out in the Appendix V of this Agreement.

Appendix IV : Privacy Policy

The Customer can access the privacy policy of the Company at the following link: Privacy Policy

Appendix V: Disclaimer

All of the operating procedures with respect to the Software Platform have been designed based on the Company’s experience in working with hundreds of global family offices. Under no circumstances should any person using the Software Platform should make investment decisions based solely on the information setout therein. The Company is not a qualified financial advisor and the Licensee should not construe any information discussed herein to constitute investment advice. The information in the Software Platform is not meant to be, and should not be construed as advice or used for investment, financial planning, legal, accounting, or tax purposes. The Licensee agrees to consult with a registered investment advisor, which the Company is not, prior to making any investment/trading decision of any kind. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. It must be implemented as per individual family office requirements in consultation with the family office’s local accounting and legal professionals.
The Software Platform is based upon information that is relevant while making investment decisions and the Company considers it reliable, but the Company does not represent that it is accurate or complete, and that it should be relied upon, as such. The Licensee should not rely solely on the information in making any investment. Rather, the Licensee should use the information only as a starting point for doing additional independent research in order to allow the Licensee to form its own opinion regarding investments. All recommendations, advice or opinions cited are the professional views of the Company. The Licensee must act upon them with due diligence.
The Company is neither registered as a wealth advisor, wealth manager, investment advisor nor soliciting any investment in any jurisdiction. Further, the Company does not accept any responsibility or liability for the actions or inactions on the part of any individual or firm stemming from the information mentioned in the Software Platform. The Licensee is solely responsible for verifying the information as being appropriate for the Licensee’s use, including without limitation, seeking the advice of a qualified professional regarding any specific financial, legal, accounting, or tax questions that the Licensee may have.
The Company makes no warranties and gives no assurances regarding the truth, timeliness, reliability, or good faith of any material/factual data in the Software Platform. The Company does not warrant that investment/trading methods or systems presented in the manual will result in profits or losses. The Company makes no guarantees as to the accurateness, quality, or completeness of the information and the Company shall not be responsible or liable for any errors, omissions, inaccuracies in the information or for Licensee’s reliance on the information Vis-à-vis the Software Platform.