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In a situation this way most of the people start contemplating the amount overtime they can get or they think about obtaining a second job. Some could even start planning for a new career path, but regardless of what they choose those people can be right back at this dining table scribbling down their expenses and wondering why nothing they are doing helps.
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Family offices can generally be allotted to a couple of categories: those who are created and dedicated to managing the estate of merely one family - single FOs (SFOs) - and those specialist businesses that provide services on behalf of a number of family clients - multiple FOs (MFOs). SFOs often operate as in-house teams to allow for the greater hands-on control over the estate/wealth of the family. MFOs may be standalone specialist companies which has a portfolio of family clients or they can operate from inside larger organisations, particularly financial institutions such as banks.
