Types of Family Offices we advise

An EFO is usually an informal structure that exists within the family-owned business. As the family considers private assets to be part of the family business, they entrust their private wealth management to reliable and loyal employees of the family business. In many cases, the chief financial officer (CFO) of the family business and other finance team members manage family office duties. They report to the chief executive officer (CEO), who operates the family business, and the family owners of the private assets.

An SFO is a separate legal entity serving one family only. The family owns and controls the office, which provides dedicated, tailored services in line with the needs of the family members. Typically, a fully functional SFO will be involved in all or part of the investments,  fiduciary trusts, and estate management of a family. Many will also have a concierge function to take care of the family’s private needs, such as conflict mediation, education, and philanthropy

An MFO manages the financial affairs of multiple families that are usually not related to each other. Like a single family office, an MFO may also manage the fiduciary trusts and estate business of multiple families as well as their investments. Some will also provide concierge services. Most MFOs are commercial as they sell their services to other families. Very few are private MFOs, which are exclusive to several families and not open to others. While there are exceptions, it is rare for an SFO to evolve into an MFO over time. This is due to their differing fundamental objectives: to provide tailored services exclusively to one family (as an SFO) or to offer bundled services to several families in a scalable, commercially oriented way (as an MFO).