Family Offices Database Options for Fund Managers
There are not very many family offices database options for fund managers but luckily there are some exist that are very well put together and constantly updated. The trick is figuring out which option is going to work best for your fund marketing or capital raising objectives.
First before you start down this path figure out if you should be working with a single FO, MFOs or both.
Single FOs are those which are built around serving the needs for one single ultra high net worth individual or family who typically has a total net worth of over $50M and in most cases over $100M.
Multi-family offices are those which provide services to 3, 4, 5, or dozens of wealth individuals and families providing holistic wealth management and tax efficiency advisory and management.
If you are using the database for capital raising you will want to approach both of these groups but the reality is that you will end up connecting with and being able to develop more powerful relationships with the muftis. This is because there are more of them, they are less secretive, and in my experience they invest in external fund managers more often.
Some final tips in selecting a database is to look for one in Excel spreadsheet format, that costs less than $2,000, only costs $500 a year or less to keep updates over the years, and is offered by a team that is really focused on this industry and not just pumping out software driven script built databases scrapped from the internet.
