Miami has become a base of operations for Latin American families whose assets sit in several countries, and the firms that advise them have had to adjust. A May 2026 profile in the Boca Raton Tribune examined how Nicholas Mukhtar, a Fort Lauderdale management consultant and founder of Tera Strategies, built a family office practice that works across English, Arabic and Spanish.
Mukhtar advises family offices, corporate executives, business owners and wealth management practices. His route into that work ran through public health. He founded Healthy Detroit, a community health nonprofit, and later earned two master’s degrees at Johns Hopkins, one in public health and one in public policy, before moving into private consulting.
Why Language Enters the Governance Conversation
The Tribune lists the complications cross-border families bring to an adviser. Documents are often drafted in more than one language. Family members tend to reason about money in their first language even when their English is fluent. Governance habits carry the imprint of legal systems outside the United States.
Without a shared governance language, family decisions can drift toward whichever relative speaks the strongest English, and that person isn’t always the family’s most capable manager of money. An adviser who can work directly in a principal’s first language removes a layer between the family’s reasoning and the advice it receives.
What the Survey Data Shows
J.P. Morgan Private Bank’s 2026 Global Family Office Report surveyed 333 single-family offices across 30 countries, with an average net worth of $1.6 billion per respondent. About six in 10 of those families run an operating company alongside the family office, and 64% named geopolitics as their top risk.
A family that owns a business in one country, holds assets in another and tracks political risk in a third needs governance documents every decision-maker can follow without an interpreter, the Tribune argues.
The South Florida Corridor
Tera Strategies sits in Broward County, along a corridor where multi-family office firms have opened operations aimed at U.S. and Latin American clients. Affinity Group, which runs multi-family office services in the Isle of Man, Malta, the Cayman Islands, the U.K. and the U.S., describes its Miami operation as delivering “multi-family office services for US and Latin American families via Miami, integrating offshore wealth planning and corporate structuring,” according to the Tribune.
Mukhtar’s governance work centers on boards, family councils, decision rights and succession plans, structures he says work best when a family builds them before a crisis arrives. He laid out his approach to that work for NetNewsLedger in April.