Do multifamily offices require minimum terms, lockups, or long-term commitments?
There is no universal multifamily office lockup or contract term. Each office sets its own account minimums, notice rules, fees, and termination terms. Investments selected for your portfolio may have separate liquidity limits, especially private funds and other less liquid investments. Review both the office agreement and each investment document before committing.
The office agreement sets the relationship
A multifamily office agreement should explain the services, fees, reporting, termination rights, and any required notice. Terms differ by firm and client situation. Ask each office for its written minimums and termination terms.
Ask whether the agreement has a fixed term or a notice period. Ask what happens if your assets fall below the stated minimum. Confirm which planning, coordination, governance, or other services continue after investment management ends. Also ask about setup charges and fees for work outside the core agreement.
Investment lockups come from the investment
An investment selected for your portfolio may restrict withdrawals. Hedge funds can impose lockup periods, and private equity, venture capital, private credit, and some real estate funds can limit withdrawals for several years.
Review the offering documents for lockups, redemption dates, notice periods, gates, suspension rights, and fees. A portfolio can combine liquid holdings with less liquid commitments. The investment documents control the actual restrictions.
If you don't have your values documented, then you don't know what investments to do. You don't know if you're really long-term oriented or short or the people around you won't know these things. You might have a good gut feel for it, but define your three to five values and your objectives.
How to evaluate a commitment
Request a plain language schedule showing the minimum relationship size, initial funding amount, ongoing fees, notice period, and termination process. Separate those business terms from investment terms. Ask how cash needs and capital calls will be handled before selecting less liquid investments.
Compare the written terms, service scope, and liquidity profile together. Educational information does not replace advice from your own legal, tax, or financial professionals.