Multi Family Office

A Family Office is a private organisation that manages the assets of one or more wealthy families. Depending on the number of households served by the facility in question, either a Single Family Office or Multi Family Office will be discussed. The services typically provided or coordinated by a Family Office involve areas as diverse as finance, asset management, estate administration, business administration, taxation, law, organisational aspects and even those more strictly relational ones between members of the family, in their role as beneficiaries of the estate.

The term Family Officer is used instead to indicate either the person responsible for the Family Office or at least the person in charge of the integrated management of the family’s assets, especially in cases of very different heritages, involving the control of family-owned SMEs, real estate, art and safe assets, securities and financial investments, also taking care of administrative and legal implications.

Traditionally, the Family Office is founded in countries with an Anglo-Saxon culture, as a Single Family Office, that is intended to serve a single wealthy family. The existence of a professional structure has led some of the original Single Family Offices to open up to a small number of other families/customers, thus giving rise to the Multi Family Office.

Other more recent Multi Family Offices do not originate from one or more families, but are directly founded by professional managers in the financial sector, law firms and accountants, and real estate professionals, united in the intent to provide a very narrow base of wealthy clients with integrated personalised services, free from conflicts of interest.