CASE STUDY

Partnering with Professionally Managed Single-Family Offices

Family offices are unique, and each determines the range of services provided to its client families.

Background

Family offices manage and/or administer investment strategy, governance, reporting and execution for ultrawealthy families (typically with a net worth $250 million or more). Family offices employ or engage investment, wealth planning, tax and accounting professionals to oversee their objectives. Sometimes, family members are also involved.

Client Objective

All family offices are unique, and each determines the range of services provided to its client families. While many services fall under the responsibility of family office personnel, others are often outsourced to external providers, like NB Private Wealth. Examples of such services include investment management, wealth and estate planning, tax preparation and compliance, banking, bill paying, travel and concierge, among others.

NB Private Wealth Solution

NB Private Wealth is well positioned to assist and advise family offices in several capacities. Related to investments, a family office may utilize our platform on an à-la-carte basis to manage a particular strategy or “sleeve” within their investment portfolio as an established global asset management firm with a full suite of equity, fixed income and alternative offerings. This is often the case when a family office employs an in-house chief investment officer (CIO) or has retained an investment consultant. Alternatively, a family may decide to outsource the entire investment process; where Neuberger Berman would serve in the role of “Outsourced CIO,” given the depth of expertise across both public and private markets—specifically tax-managed equity strategies, fixed income and private equity/alternatives. Family offices also leverage the expertise of our wealth planners, and trust and estate professionals, who can provide another point of reference to assist their in-house or outsourced personnel.

Other Insights

This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. All information is current as of the date of this material and is subject to change without notice. Neuberger Berman products and services may not be available in all jurisdictions or to all client types. Investing entails risks, including possible loss of principal.

NB Private Wealth utilizes the Neuberger Berman investment platform of equity, fixed income and alternative products and strategies as its primary investment option. Non-Neuberger Berman products and strategies are also available on a limited basis and generally as a complement to Neuberger Berman offerings. Neuberger Berman’s preference for proprietary products and strategies may result in incremental benefits to Neuberger Berman, its affiliates and their respective employees. Tax planning, trust and estate administration services, and fiduciary services are services offered by Neuberger Berman Trust Company. “Neuberger Berman Trust Company” is a trade name used by Neuberger Berman Trust Company N.A. and Neuberger Berman Trust Company of Delaware N.A., which are affiliates of Neuberger Berman Group LLC.

Services provided by the members of your NB Private Wealth team may be provided in their capacities as registered representatives of Neuberger Berman BD LLC (“NBBD”), a registered broker-dealer, or in their capacities as supervised persons of Neuberger Berman Investment Advisers LLC (“NBIA”), a registered investment adviser. Wealth planning services are provided by NBBD. Wealth analyses and wealth planning analyses are intended solely for informational and discussion purposes to educate investors on financial topics and help investors better understand their financial profile and evaluate possible options. They are not financial plans and Neuberger Berman does not offer financial planning services. A wealth analysis or wealth planning analysis is a one-time analysis and Neuberger Berman does not undertake to provide any ongoing or periodic review, follow-up or monitoring of any of the topics covered in the analysis. The analysis and any related discussions do not constitute investment advice and are not part of any investment advisory or fiduciary services offered by Neuberger Berman or its affiliates. A client should not base major life decisions, such as retirement and spending goals, solely on the analysis. Philanthropic Services are provided as a courtesy by the Neuberger Berman Foundation and are for informational and discussion purposes only. Neuberger Berman is not acting in a fiduciary capacity or recommending any specific philanthropic or charitable activities. Recipients of Philanthropic Services should consult their own tax or legal advisors before implementing any philanthropic or charitable activities.

Neuberger Berman Investment Advisers LLC is a registered investment adviser and an affiliate of Neuberger Berman BD LLC, a registered broker-dealer and member FINRA/SIPC. The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC.