What is a Family Office?
Are you thinking about building a family office? Wondering if a family office is right for you, but struggling to understand the whats, whys, and hows of a family office? Simple’s family office hub gathers all of our content about family office organisation and form in one place. As always, the Simple team of family office experts is here to take you through the steps to realise your potential and secure your family for generations. Connect with our team to learn how we can help set direction and build alongside you. From outlining goals and defining a roadmap to fast-tracking all the different workstreams, with access to on-demand knowledge, services, and our global network of more than 10K users.
About family offices
A family office is an entity created to professionally manage the wealth and affairs of ultra-high-net-worth families, with the core objective of preserving and growing wealth across generations. It consolidates investment oversight, financial planning, tax and estate strategy, and often extends to concierge and lifestyle services tailored to a family’s unique needs.
Family offices can take different forms: single-family offices (SFOs) serve one family exclusively, offering highly customized, private solutions; multi-family offices (MFOs) share resources across multiple families to reduce costs; and virtual models leverage external providers to deliver services without a full internal team. Establishing a family office involves diligent planning around governance, talent, and technology to align with long-term goals and legacy ambitions. Cost and complexity vary significantly, family offices offer centralized control, privacy, and the ability to integrate financial and non-financial priorities into a cohesive strategy.
Filter Alphabetically
Results
Alternative assets are non-traditional holdings, such as private equity, real estate, and digital assets, used by family offices to diversify and build resilient portfolios.
Alternative investments are non-traditional strategies, like private equity, hedge funds, and real assets, used by family offices to diversify portfolios and enhance returns.
Regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.
The process of distributing investments among various asset classes to balance risk and reward according to an individual's goals. The process of dividing a portfolio among different asset classes, such...
The direction of a client's cash and securities by a financial services company, usually an investment bank.
The total value of assets managed for clients, including reporting and safekeeping, but without direct investment authority.
Are you thinking about building a family office?
Connect with our team to learn how we can help set direction and build alongside you. From outlining goals, defining a roadmap to fast tracking all the different workstreams, with access to on-demand knowledge, services and our global network of more than 10K users.
Contact Simple?
Submit your request below and we will connect you.
Regions
Arizona for Family Offices
Arizona offers a unique blend of natural beauty, robust tax benefits, and a thriving business environment. Positioned between California’s financial hubs and the Southwest’s tech...
Mauritius for Family Offices
Explore what Mauritius has to offer for family offices. Learn more about their lifestyle benefits, transparent regulation and professional services for long-term stewardship.
Italy: Ideal location for family offices
From the landscapes of Sicily, to the flashy fashion runways of Milan, Italy has strategically positioned itself as a pivotal European domicile for sophisticated wealth...
“Working with family offices from a variety of viewpoints, I have been actively exposed to key changes in the industry over the past decades: from the organisational and technical transformation of family offices to the needs and expectations of the next gen.”
— Martin Stadler
FAQ
What is the difference between a single-family office and a multi-family office?
A single-family office (SFO) serves one ultra-high-net-worth family exclusively. It provides customised wealth management, investment oversight, tax planning, and lifestyle services tailored to that family's specific needs and values. A multi-family office (MFO) serves multiple families simultaneously, sharing infrastructure, resources, and expertise across clients to reduce costs while still offering personalised services. SFOs offer maximum privacy and control but require significant capital to justify the expense, while MFOs provide professional management at a lower cost by distributing overhead across several families.
How much wealth do you need to start a family office?
Most experts suggest a minimum of $100-250 million in investable assets to justify establishing a single-family office, though some families with $50-100 million may consider virtual or hybrid models. The threshold depends on the complexity of your financial situation, desired services, and whether you're building a full-service SFO or leveraging external providers. Multi-family offices typically have lower minimums, often accepting families with $10-50 million in assets, since costs are shared across multiple clients.
What services does a family office provide?
Family offices typically provide investment management, financial planning, tax optimisation, estate and succession planning, risk management, and philanthropic advisory services. Many also offer concierge and lifestyle services, including property management, travel coordination, family education, governance support, and next-generation preparation. The exact service mix varies by family priorities—some focus solely on wealth preservation and investment strategy, while others provide comprehensive support, including personal staff management, security coordination, and family legacy initiatives.
What are the main costs of running a family office?
Operating costs for a single-family office typically range from 0.5% to 1.5% of assets under management annually, with smaller offices often experiencing higher percentage costs. Major expenses include personnel salaries (investment professionals, CFOs, tax advisors, operations staff), technology and infrastructure, professional services (legal, audit, compliance), and office space. A basic SFO might cost $1-3 million annually, while comprehensive operations can exceed $5-10 million. Multi-family offices reduce per-family costs by sharing resources, often charging 0.75-1.25% of AUM plus performance fees.
How do you decide if a family office is right for you?
A family office makes sense when your wealth has reached sufficient scale ($100+ million), your financial affairs are complex enough to justify dedicated expertise, and you value privacy, customisation, and centralised control over your family's financial and non-financial needs. Consider whether you need coordinated management across multiple entities, jurisdictions, or asset classes; whether you want to integrate philanthropy, family governance, and next-generation education; and whether the ongoing costs align with your wealth preservation and growth objectives. Families seeking maximum control and willing to invest in dedicated infrastructure benefit most from family offices.