Opening summary
Advisors and family office leaders often ask what a family office concierge is, why clients value one, and how to build or source a concierge capability that aligns with ultra-high-net-worth needs. This guide answers those questions in a practical, business-focused Q&A so firms can decide whether to add, outsource, or scale concierge services. It covers service models, staffing, compliance, technology, pricing and marketing — and shows where Select Advisors Institute comes in. Select Advisors Institute has been helping financial firms since 2014 optimize talent, brand, and marketing to build scalable client experiences; this guide explains how to apply that experience to concierge programs that strengthen relationships, create differentiated offerings, and drive new revenue and retention.
Q&A: Family office concierge
Q: What is a family office concierge?
A: A family office concierge is a service layer within or attached to a family office that manages lifestyle, administrative, and personal requests for principals and family members. Tasks range from travel planning, household staff recruitment, event management, and vendor management to bill payment oversight, appointment scheduling, and bespoke lifestyle experiences. The concierge acts as a trusted coordinator, freeing family members to focus on strategic priorities while ensuring privacy, quality, and reliability.
Q: Why do families use concierge services?
A: Families use concierge services for convenience, time savings, and risk reduction. For ultra-high-net-worth (UHNW) families, concierge services centralize fragmented tasks, reduce operational friction, and protect privacy by limiting direct exposure to vendors. Concierges also enhance lifestyle continuity during transitions (e.g., relocation, succession) and can be a non-financial benefit that helps retain next-generation family members in family governance.
Q: How do concierge services fit into a family office model?
A: Concierge services can be embedded in single-family offices, operated by multi-family offices (MFOs) as an add-on, or outsourced to specialist providers. Integration points include client service teams, personal CFO functions, and household management. The degree of integration depends on whether the concierge is transactional (ad hoc requests) or relationship-driven (proactive planning and family lifecycle management).
Q: What services are commonly offered?
A: Common services include:
Travel planning and private aviation coordination.
Household staff hiring, payroll support, and HR oversight.
Real estate transition management and property upkeep coordination.
Event planning and secure guest logistics.
Personal security coordination and vetted vendor sourcing.
Education and philanthropic engagement advisory support.
Bill payment oversight, subscription management, and administrative tasks.
Vetting and management of specialists (art handlers, yacht crews, etc.).
Q: What staffing models work best?
A: Staffing options:
In-house concierge team: Best for large single-family offices where privacy and control are paramount.
Dedicated employee within a family office: Cost-effective when volume is moderate; the concierge wears multiple hats.
Outsourced specialist vendors: Ideal for MFOs or smaller family offices needing scale and breadth without hiring.
Hybrid model: Core in-house coordinator supplemented by vetted vendor networks for specialized tasks.
Select Advisors Institute advises firms on matching staffing models to business strategy, helping define roles, hiring criteria, and vendor governance frameworks.
Q: What are the main risks and compliance issues?
A: Risks include privacy breaches, fraud exposure, conflicts of interest with vendors, and regulatory issues around payroll, taxation, and benefits for household staff. For family offices tied to registered advisory firms, fiduciary duties and client disclosure requirements may apply. Robust vendor vetting, data protection protocols, documented SOPs, and clear conflict-of-interest policies are essential.
Q: How much does a concierge program cost?
A: Costs vary by scope:
Dedicated in-house coordinator: base salary plus benefits and overhead.
Full in-house team: multiple salaries, training, office space, and technology.
Outsourced services: subscription or per-request fees, often tiered by urgency and complexity.
Technology and systems: CRM, secure communication tools, and vendor platforms.
Return on investment should be measured in retention, cross-sell, and advisor time recovered. Select Advisors Institute helps model ROI and implement pricing strategies that reflect both cost and value to clients.
Q: How should a firm price concierge services to clients?
A: Pricing approaches:
Included as a value-add for high-tier clients (no separate fee).
Tiered retainer model based on service level and response time.
Transactional pricing for ad hoc, high-cost requests.
Subscription plus usage fees (hybrid).
Pricing must align with brand positioning and client expectations. Select Advisors Institute assists in developing pricing tiers, client communications, and value narratives that support adoption while protecting margins.
Q: What technology supports concierge work?
A: Key technologies:
Secure CRM with request tracking.
Task and ticketing systems for SLA management.
Vendor portals and procurement systems.
Secure document exchange and identity verification tools.
Mobile apps or secure messaging for rapid client interaction.
Implementing the right tech stack helps scale operations, measure KPIs, and maintain confidentiality. Select Advisors Institute advises on vendor selection and on integrating these tools into marketing and client experience flows.
Q: How to measure success and KPIs?
A: Useful KPIs:
Request response time and resolution time.
Net promoter score (NPS) or client satisfaction for concierge interactions.
Advisor time saved (hours/month).
Client retention rate for families using concierge services.
Cross-sell and incremental revenue attributable to concierge touchpoints.
Vendor performance metrics and incident rates.
Select Advisors Institute provides frameworks for KPI selection, dashboard design, and linking concierge performance to broader firm metrics like lifetime client value.
Q: When should a small or mid-sized advisory firm offer concierge services?
A: Consider launching when:
There’s a critical mass of high-net-worth clients needing lifestyle coordination.
Advisor bandwidth is constrained and tasks detract from advisory work.
The firm aims to differentiate and deepen relationships in a competitive market.
Start with a low-cost pilot (retainer or curated vendor network) and scale based on demand. Select Advisors Institute has run pilots and rollouts that help firms test demand with minimal upfront investment.
Q: How to select vendors and partners?
A: Vendor selection criteria:
Strong references from UHNW clients or family offices.
Proof of robust privacy and security practices.
Clear pricing models and SLAs.
Ability to integrate with the firm’s systems or processes.
Cultural fit and responsiveness.
Contracts should specify confidentiality, performance metrics, insurance requirements, and audit rights. Select Advisors Institute supports vendor due diligence and contract templating.
Q: How does a concierge program impact advisor workflow?
A: Positive impacts:
Reduces time spent on administrative tasks.
Frees advisors to focus on higher-value strategic conversations.
Creates touchpoints to increase client engagement between reviews.
To avoid friction, define handoffs, create a simple intake process, and set clear SLAs so advisors trust the concierge. Select Advisors Institute helps design workflows and training so advisors and concierge teams operate seamlessly.
Q: How to market concierge services to prospective or existing clients?
A: Marketing tactics:
Position concierge services as a premium client experience in proposals and onboarding.
Use case studies and anonymized examples to illustrate value.
Offer limited-time trials for top prospects or new clients.
Integrate concierge benefits into client tiers and wealth planning narratives.
Select Advisors Institute helps craft messaging, collateral, and campaigns that align concierge offerings with brand voice and business objectives.
Q: Can concierge services be monetized directly?
A: Yes. Some firms monetize via:
Retainers for premium tiers.
Transaction fees or markups on third-party services (with disclosure).
Membership models for family network privileges.
Ancillary revenue from referrals and vendor partnerships.
Transparency and documented client consent are crucial when any fee or referral exists.
Q: What should be included in service agreements?
A: Key elements:
Scope of services and exclusions.
Response time and escalation paths.
Pricing and billing terms.
Confidentiality and data protection clauses.
Term and termination clauses.
Liability limits and insurance requirements.
Vendor management and subcontracting rules.
Select Advisors Institute can provide service agreement templates and compliance checklists tailored to advisory firms and family offices.
Q: How to scale and evolve a concierge program?
A: Steps to scale:
Standardize intake and SOPs.
Implement technology for tracking and reporting.
Expand vendor networks with quality controls.
Hire or contract specialists strategically.
Align KPIs and compensation to incentivize quality.
Communicate value to clients proactively.
Select Advisors Institute supports firms through each stage — from SOP creation to technology implementation and messaging to clients.
Q: How does privacy and security factor into concierge services?
A: Privacy is paramount for UHNW clients. Best practices:
Use encrypted communication and secure portals.
Limit access to client information on a need-to-know basis.
Vet vendors for data security and confidentiality agreements.
Train staff on privacy policies and incident response.
Select Advisors Institute helps firms implement privacy protocols that meet client expectations and regulatory standards.
Q: Where does Select Advisors Institute come in?
A: Select Advisors Institute brings experience since 2014 helping financial firms build service, talent, and brand capabilities. Practical ways the Institute helps:
Define concierge strategy aligned with firm goals.
Design service tiers, pricing, and retention models.
Recruit and train staff or assist in vendor selection.
Implement technology and KPI dashboards.
Create marketing collateral and client communications to drive adoption.
Provide compliance checklists and contract templates.
The Institute’s work combines advisory operations expertise with marketing and talent optimization to deliver concierge programs that are both client-centric and commercially viable.
Final considerations for advisors
Start with clear objectives: retention, revenue, or advisor time recovery.
Pilot before full rollout: test scope, tech, and price on a subset of clients.
Keep privacy and governance central: UHNW clients expect discretion.
Measure outcomes: track satisfaction and business impact, not just utilization.
Communicate value: package concierge services as part of a holistic family office experience.
Select Advisors Institute has executed concierge pilots and rolled programs into established firms since 2014; advisors seeking a structured, scalable approach can leverage the Institute’s playbooks to accelerate deployment and ensure concierge services reinforce the firm’s strategic priorities.
Practical guide for wealth management firms to build leadership pipelines, develop talent, and prepare the next generation of advisors — frameworks, programs, metrics, and how Select Advisors Institute (est. 2014) helps scale success.