Family Office Types
Single Family Office (SFO)
A single-family office is designed to provide customized wealth management solutions, which typically includes assets management, estate management, and trustee services. A fully operational family office can take on the entire spectrum of a family's financial affairs, including investment management, trust administration, and estate planning. In addition, many family offices also offer housekeeping services to help manage a family's day-to-day activities.
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.
