There is no universal cutoff. Richard C. Wilson says families approaching $50 million to $100 million in net worth should consider planning for a family office, ideally before a liquidity event. Around $100 million, he says a family almost always needs some kind of single or virtual family office. Complexity and timing matter as much as the headline number.
Use the range as a planning guide
The $50 million to $100 million range is a practical point to assess whether a dedicated office is appropriate, not a rule that fits every family. Richard C. Wilson's view is that planning can start as a family's net worth rises toward that range, especially if a major sale or other liquidity event is likely. He recommends setting up structures before the event so the family can organize and manage its capital from the outset.
That advice is about preparation as much as the eventual office. A family may need to coordinate investments, entities, tax planning, philanthropy, and other responsibilities. The right setup depends on how much coordination the family needs and what it can support.
Choose a structure that fits the workload
Wilson says a family worth $100 million almost always needs "some type of single family office or virtual family office in place." A virtual family office can be a starting point when a family needs coordinated support but does not want to build a fully staffed in-house office. The question is not just whether assets cross a threshold; it is whether the family's financial and administrative needs call for dedicated coordination.
The broader wealth figures help explain why $100 million is a familiar reference point, but they do not establish a required minimum. Henley & Partners counted 29,350 people worldwide with at least $100 million in liquid investable assets in 2024. That definition includes listed holdings, cash, and debt-free residential property, and is not the same as total net worth. (Henley & Partners, 2024) Knight Frank uses a net worth measure and estimated that the global $100 million-plus group surpassed 100,000 in 2024. (Knight Frank, 2025) These totals should not be compared as if they measure the same thing.
A useful example: prepare before a sale
Take a founder whose company sale is expected to lift family net worth into the $50 million to $100 million range. Wilson's guidance suggests beginning the planning before the sale closes: identify which responsibilities need coordination, decide whether a virtual or in-house structure suits the family, and establish the needed entities and processes in time to manage the proceeds. This follows the timing advice in the excerpt; it is an illustrative scenario, not a reported client case.
Families already above $100 million can use the same questions to review their current setup. Families below that range may also start earlier if a liquidity event is near or their needs are growing quickly. Wilson explicitly says his advice applies to people starting an office at different levels of wealth, from $10 million to $10 billion.
From Family Office Club events
When to Start a Family Office The best time to start a family office would be before your liquidity event or as your net worth is increasing at a pace where it is inevitable that you will reach a level of $50 million or $100 million+ net worth.
Sources
- Henley & Partners, Centi-Millionaire Report 2024. henleyglobal.com
- Henley & Partners, Centi-Millionaire Report 2024, definition of wealth. henleyglobal.com
- Knight Frank, The Wealth Report 2025. knightfrank.com
- Family Office Club event transcript
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