Family Office SG
Family Office Types
Single Family Office, SFO
In its purest sense, a single-family office is a privately held company that manages a family's finances. Generally, a fully-fledged single-family office is involved in all or part of a family's investments, trusteeship, trusts, and estate administration. Many family offices also function as stewards.
Over time, single-family offices evolve into multi-family offices. This transformation is often a result of the successful operation of a single-family office, prompting other families to actively participate. The multi-family office structure facilitates economies of scale, encouraging some families to integrate other families into their family office structure.
Multi Family Office (MFO)
The Union Family Office (or called the United Family Office) is responsible for managing the finances of multiple families, and these families are not necessarily related to each other. Like a single-family office, an alliance family office may also manage trustees, trusts, and estate affairs for multiple families. Some also provide butler service. Most family offices are commercial in nature and they also sell services to other families. A very small number are private and provide specialized services for a small number of families and are not open to other families.
Over time, single-family offices will become multi family offices. This transformation is usually the result of the successful operation of a single-family office and the active entry of other families. With the help of the multi-family office structure, it is easier to achieve economies of scale, prompting some families to accept other families into their family office structure.
