San Francisco-based Wells Fargo Bank has introduced its Family Wealth Group a multi-family office group. As part of Wells Fargo Private Bank, it combines investment management and risk management with a broad view of wealth management that includes family enterprise governance and
legacy planning.

According to the bank, families with $50 million or more in assets are the fastest growing wealth segment today.

The FWG services include a multi-disciplinary think tank that researches issues affecting ultra-high-net-worth families, proprietary analytical tools which map wealth dynamics, organisational architecture and financial structure across the family tree and “family wealth retreats” focused on family history, wealth education and inter-generational wealth planning.

Michael Cole, executive vice president and national director of the FWG, said: “Our clients are families who are concerned not only with managing their wealth, but also with ensuring responsible stewardship of their wealth today and for generations to come. Traditional financial firms and family offices tend to focus only on the wealth, We address all the important issues that come along with wealth, including its impact on the lives of our clients and their families. Our goal is to assist families in aligning their wealth and their values.“