Top Family Offices in Milwaukee 2026

Key Facts About Milwaukee's Family Office Market

• An estimated 5 to 10 dedicated family offices operate in the greater Milwaukee and southeastern Wisconsin region, split between single family offices (SFOs) and multi-family offices (MFOs).
• Milwaukee serves as the primary hub, with secondary clusters in Brookfield, Waukesha, and Beloit covering the wider Wisconsin market.
• Wealth thresholds range from $20M in liquid assets for MFO entry to $500M or more for a viable standalone SFO.
• SFOs in this market trace their origins to industrial manufacturing wealth, including the Marcus, Hauske, and Hendricks families.
• Direct investments in middle market companies with $2M to $10M EBITDA represent the dominant strategy among Milwaukee-based SFOs.
• Family offices nationally invested roughly $3 billion per year in more than 100 venture capital deals annually from 2013 to 2017, a trend reflected in Wisconsin's growing private market activity.

Milwaukee Family Offices: Landscape Overview

Milwaukee's family office market grew from the city's industrial roots. Generational wealth from manufacturing, tanning, retail, and brewing created the capital base behind today's SFOs. Marcus Investments emerged from The Marcus Corporation's hospitality and entertainment empire. Marshall Street Capital traces its capital to the Hauske family's leather and industrial holdings through Albert Trostel & Sons and Eagle Ottawa.

The market splits into distinct tiers. Dedicated SFOs like Lubar & Co. and Jacsten LLC deploy capital directly into operating companies. MFOs such as Vogel Consulting Group and Curi Capital serve multiple ultra-high-net-worth (UHNW) families with shared services in wealth management, tax planning, and estate planning. Regional law firm practices add family governance, compliance, and succession planning advisory.

For families between $20M and $500M in assets under management (AUM), virtual and outsourced models fill a key gap. Crescent Grove Advisors offers full-service wealth management with concierge capabilities. Hawthorn Family Wealth, backed by PNC Bank, sets a $20M liquid asset minimum. Eight of the region's offices sit within the city proper, giving local families direct access to advisors without the overhead of coastal alternatives.

Family Office Comparison at a Glance

The following table compares the primary offices serving the Milwaukee market by type, capital deployment focus, and service scope.

Family Office	Type	AUM Estimate	Investment Focus	Key Services	Location
Silvercrest Asset Management	MFO/Wealth Mgmt	$37.6B	Institutional equity, OCIO	Portfolio construction, estate planning, business succession	New York
Marcus Investments LLC	SFO	Not disclosed	Middle market direct investments ($2M–$10M EBITDA)	Direct private equity	Milwaukee
Lubar & Co.	SFO/Private Investment	Not disclosed	Long-term growth capital for portfolio companies	Capital, strategic guidance, operational support	Milwaukee
Hendricks Holding	SFO	Not disclosed	Diversified portfolio companies	Private investments (27 total companies)	Beloit
Vogel Consulting Group	MFO	Not disclosed	Private equity, hedge funds, direct investments	Asset allocation, private markets access	Brookfield
Curi Capital	MFO	Not disclosed	Wealth planning, private investments	Full-service: planning, advisory, accounting, tax	Milwaukee/Chicago
Marshall Street Capital	SFO	Not disclosed	Private equity, direct investments	PE, external manager allocation	Milwaukee
Crescent Grove Advisors	MFO/Wealth Mgmt	Not disclosed	UHNW full-suite, private markets	Investment mgmt, tax, concierge, OCIO	National
Horizon Partners Ltd.	SFO	Not disclosed	Portfolio companies	Private investments (25 total companies)	Milwaukee
Jacsten LLC	SFO	Not disclosed	Midwest small businesses	Long-term value creation	Milwaukee

Most Milwaukee-based SFOs do not publicly disclose AUM, reflecting the region's preference for privacy. Silvercrest stands apart with $37.6B in reported assets, though it is headquartered in New York and serves Milwaukee families remotely.

Top Picks by Strategy

• Largest AUM: Silvercrest Asset Management ($37.6B), the only office with publicly reported assets, offering outsourced CIO (OCIO) services and proprietary equity strategies.
• Best for Direct Middle Market Deals: Marcus Investments LLC, targeting controlling interests in Milwaukee-area companies with $2M to $10M EBITDA.
• Most Diversified Portfolio: Hendricks Holding, with 27 total portfolio companies (16 current) spanning multiple sectors from its Beloit base.
• Top Full-Service MFO: Curi Capital, combining wealth planning, advisory, accounting, estate planning, and charitable giving advisory with 65+ employee partners investing alongside clients.
• Strongest Private Equity Platform: Marshall Street Capital, blending direct investments with external manager allocation for the Hauske family's industrial-origin capital.
• Leading Independent MFO: Vogel Consulting Group, serving roughly 30 families at a $30M+ threshold with access to private equity, hedge funds, and direct operating company deals.
• Best for Patient Growth Capital: Lubar & Co., providing strategic, operational, and financial guidance to portfolio companies with a long-term hold philosophy.

Detailed Office Profiles

Marcus Investments LLC

Milwaukee families seeking hands-on middle market exposure will find Marcus Investments among the most focused SFOs in the region. The office targets controlling interests in local operating companies with $2M to $10M EBITDA. This strategy is rooted in the Marcus family's deep ties to Milwaukee's business community through The Marcus Corporation.

The buy-and-operate approach sets it apart from passive fund allocators. Marcus Investments prioritizes operational involvement rather than financial engineering. Business owners considering a sale to a local, relationship-driven buyer gain both a capital partner and a long-term operator.

Marshall Street Capital (Hauske Family Office)

A dual allocation strategy makes Marshall Street Capital one of the more structurally flexible SFOs in Milwaukee. The office pursues direct private equity deals while also placing capital with external managers. This blended model captures proprietary deal flow and maintains broader market exposure through vetted fund managers.

The Hauske family built its wealth through Albert Trostel & Sons, Eagle Ottawa, and the Everett Smith Group, all industrial enterprises with deep Midwest roots. That manufacturing-origin capital, paired with institutional allocation discipline, gives Marshall Street a distinct profile among the region's private wealth offices.

Vogel Consulting Group

Genuine customization defines this Brookfield-based multi-family office. With roughly 20 employees serving about 30 families, Vogel Consulting operates at a scale that avoids the impersonal feel of large platforms. The firm requires $30M or more in managed assets and works with all living generations of each client family, sometimes spanning up to 300 individual members.

Capabilities include private equity, hedge funds, and direct investments in private operating companies. Founder Rhona Vogel built the firm around integrating capital deployment decisions with broader financial planning. Families wanting multi-generational wealth preservation with alternative investment access will find this model distinct from bank-affiliated advisors.

Curi Capital

Integrated service breadth sets Curi Capital apart from every other Milwaukee-area family office. The firm covers wealth planning, advisory, accounting and reporting, estate and tax planning, insurance advisory, and charitable giving advisory under one roof. With offices in Milwaukee and Chicago, it serves families in both metro areas.

Over 65 employee partners invest their own capital alongside clients, creating direct alignment of interests. Curi Capital uses the Addepar platform for consolidated reporting, giving families a single view of public and private holdings, K-1 processing, and entity-level accounting. The low client-to-advisor ratio ensures senior-level attention.

Lubar & Co.

Patient growth capital with operational involvement defines Lubar & Co.'s model. The Milwaukee-based firm provides portfolio companies with financial resources and hands-on management support over extended holding periods. This approach appeals to business owners who want a capital partner invested in long-term value creation rather than a quick exit.

Lubar's emphasis on collaboration and operational improvement sets it apart from purely financial firms in the region. For owners of growing Midwest businesses, few local offices offer comparable depth of strategic guidance.

Hendricks Holding

One of the largest direct investment footprints among Wisconsin SFOs belongs to Hendricks Holding. Operating from Beloit, roughly 80 miles southwest of Milwaukee, the firm has assembled 27 total portfolio companies with 16 currently active. The diversified holding company model spreads risk while maintaining operating control over each business.

For families outside the Milwaukee city center, Hendricks shows that Wisconsin's family office ecosystem extends well beyond the metro area. Its sector-spanning portfolio reflects a deliberate strategy of broad exposure through owned operating companies.

Horizon Partners Ltd.

A portfolio of 25 total companies, with four currently active, gives Horizon Partners a deep track record in deal sourcing and operational oversight. The Milwaukee-based SFO operates quietly, typical of the region's preference for discretion.

Its experience managing multiple portfolio companies over time signals familiarity with Midwest-market exits and long-hold strategies. Families seeking an established, low-profile private wealth office will find Horizon's record worth examining.

Jacsten LLC

Small Midwest businesses get a dedicated buyer in Jacsten. The Milwaukee-based SFO focuses exclusively on this niche, one that larger family offices often overlook. Jacsten prioritizes long-term value creation over rapid growth.

This philosophy aligns with owners of small, profitable companies seeking a patient buyer. Sellers who want to preserve their business culture and regional ties will find Jacsten's approach a natural fit.

Silvercrest Asset Management Group

Institutional-grade portfolio construction at scale is Silvercrest's core strength. The firm manages $37.6B in assets and maintains a 98% client retention rate over 23 years. Its OCIO team builds portfolios for family offices, endowments, and foundations.

Silvercrest offers proprietary equity strategies spanning small through large cap, plus international value. While headquartered in New York, the firm serves Milwaukee-area families and foundations seeking capabilities that local boutique offices cannot replicate at comparable scale.

Crescent Grove Advisors

Families wanting a single provider for investments, tax, estate planning, charitable giving, and concierge services will find Crescent Grove's model compelling. The firm offers private markets access with minimums starting at $100,000, well below typical institutional thresholds. Its proprietary donor-advised fund, Cedar Street Charitable Foundation, streamlines tax-efficient giving.

Crescent Grove also provides OCIO services and co-investment opportunities alongside institutional managers. This makes it a flexible option for families considering whether to outsource their investment office entirely.

Trends Shaping Milwaukee's Private Wealth Market

Direct Deals and Middle Market Activity

Milwaukee SFOs like Marcus Investments and Lubar & Co. favor controlling interests in local operating companies with $2M to $10M EBITDA. Post-2008 financial discipline reinforced a preference for tangible, cash-flowing businesses over leveraged financial structures. This hands-on approach reflects the region's manufacturing heritage, where owners understand operational value creation firsthand.

The Shift from Public to Private Markets

Shrinking public equity supply is pushing Milwaukee families toward private alternatives. Vogel Consulting, Marshall Street Capital, and Curi Capital all offer private equity and direct investment access. The valuation gap between public and private markets creates an arbitrage opportunity. Midwest-based offices, with lower overhead and closer proximity to deal flow, can exploit this gap more efficiently than coastal competitors.

Venture Capital Growth in Wisconsin

Family offices invested roughly $3 billion per year in more than 100 minority-stake venture capital deals annually from 2013 to 2017. That figure rose from about 70 deals totaling $1.2 billion in 2012 to 2013. Wisconsin's growing technology startup ecosystem now gives Milwaukee-area offices local VC opportunities that did not exist a decade ago.

Generational Wealth Transfer and Succession Demand

Industrial families that built wealth in the mid-20th century are now transitioning leadership to second and third generations. This shift drives demand for family governance structures, succession planning, and next-generation education programs. Regional law firms, bank-affiliated wealth teams, and dedicated advisory practices have built specific capabilities around Milwaukee-area families facing these transitions. Curi Capital's integrated planning model and Vogel Consulting's multi-generational client approach both address this need directly.

How to Evaluate a Family Office in Milwaukee

Start with service model fit. Milwaukee's market includes dedicated SFOs, independent MFOs, bank-backed platforms, and law firm advisory practices. Families with $20M to $30M in liquid assets should compare Hawthorn Family Wealth's $20M minimum against Vogel Consulting's $30M threshold before building a standalone office that may cost more than the services warrant.

Assess private market access carefully. Milwaukee SFOs like Marcus Investments offer proprietary deal flow in local middle market companies. MFOs typically provide access through fund managers rather than direct deals. If controlling interests in operating companies matter to your strategy, an SFO or SFO-style firm like Lubar & Co. will serve that goal better than a diversified MFO.

Verify Wisconsin-specific legal expertise. Wisconsin is a marital property state, which changes estate planning strategies compared to neighboring Illinois or Minnesota. Ask whether your prospective office has attorneys or partnerships experienced in marital property planning, carried-interest fund structures, and state income tax strategies specific to Wisconsin trust statutes.

Employee ownership and fee transparency reveal alignment. Curi Capital's 65+ employee partners invest their own capital alongside clients, a structural incentive most bank-affiliated offices lack. Request a clear fee schedule and compare it against the scope of services before signing an engagement.

Which Family Office Fits Your Needs?

UHNW families with $100M or more seeking direct control over operating companies should explore Marcus Investments for middle market deal flow or Lubar & Co. for patient growth capital with strategic involvement. Both offices provide the hands-on access that passive fund allocators cannot match in the Milwaukee market.

Business owners navigating a liquidity event in the $30M to $100M range can consider Vogel Consulting Group for its MFO structure with private equity and hedge fund access. Curi Capital suits families wanting integrated planning that covers investments, tax, accounting, and reporting on one platform.

Families inheriting wealth and needing oversight support should look at Crescent Grove's family engagement programs, designed to prepare the next generation for management of multi-generational capital. Foundations, endowments, and families wanting institutional portfolio management at scale have a clear option in Silvercrest's $37.6B OCIO platform. Families preferring bank-backed stability with lower minimums can start with Hawthorn Family Wealth at PNC, which accepts clients at the $20M liquid asset level.

Methodology

This guide to milwaukee family offices draws on public filings, firm websites, and industry databases covering major family office service providers in the region. Offices were evaluated on capital deployment focus, service breadth, geographic presence, and publicly available track records.

AUM figures appear only where publicly disclosed. Most Milwaukee-area SFOs do not report managed assets, consistent with the private nature of family office structures. Market statistics on venture capital activity reflect 2013 to 2017 data, the most recent period with broad reporting. Office profiles and service descriptions reflect information available as of early 2026.