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What’s the difference between Family Office, Private Bank, a Wealth Advisor and a Asset Manager
The difference is independence. Family offices ideally are not affiliated with any bank, financial institution or asset manager. The advice they provide is strictly objective and without the conflict of a sales mandate or a financial interest in selling particular financial products or services. A wealth manager comes in many legal forms – private bank, trust company, brokerage firm, family office, multi-family office, financial planner, etc.