Multiple Family Office

Multiple Family Office – MFO – Private Family Office

Where a Single Family Office (a Private family Office which deals with only the one family which it serves) is not the best option, then clients may wish to consider a Multiple Family Office.

A Multiple Family Office, is a Private Family Office which services several families (very discreetly, with strong buffers and confidentiality between each) thus reducing the overall costs to the client.

When choosing a Multiple Family Office, there are several key factors which a client should consider:

Focused client base:
Successful MFOs establish clear limits on the number of families they serve (typically 25 to 100) and the type of families they work with. This makes it easier to anticipate client needs while maintaining the highest level of personalized service. Within the limits of non disclosure agreements, clients should be able to ask and assess any conflict of interests and / or ethics which may exist, given the client groups services by a MFO
Family-focused wealth management philosophy:
If tasked with wealth management duties as part of its remit, then the MFO’s mandate should be to build and preserve wealth across multiple generations. MFO professionals should be comfortable working within a family dynamic, and should be able to offer guidance if conflict arises among family members, whilst maintaining best practice, confidences and ensuring win/win scenarios. The MFO must be able to demonstrate and evidence registration, oversight and full compliance with all legal and financial institution accreditation’s and laws applicable.
“Four Seasons” service culture:
Superior service is the hallmark of a professional MFO. Client-staff ratios in an MFO should be kept as low as possible, and regular, in-person contact with clients should be the norm. All MFO personnel should be fully aware and compliant with the ethos and style which the family dictates in the service level agreement between MFO and the client (family). A good way in which a client can assess this, is by interviewing and speaking to the MFO personnel at different levels of the MFO’s organization. Clients can check to see if there is a clear company ethos operating, as well as fully understood and best practice processes in place.
Open architecture:
The true MFO is an independent shop, an integrator of tailored services, chosen to suit the needs and wishes of the client, and not for what is in vogue or which creates the greatest commissionable scenarios for the sellers. The MFO should offer the broadest range of products and services possible, and should not be tied to any one investment firm, lawyer, accountant, travel agent or manager. The supply chain between MFO and service / product providers must be transparent, reliable and include vetting, back up suppliers and agreed service level agreements which protect not only the MFO but also the clients, in all cases.
Absolute confidentiality:
Privacy is on of the hallmarks of the MFO. Ask the firm you’re considering to brief you about its confidentiality guidelines. If there’s an established privacy process already in place, you should ask for testimonials which evidence these being in place and being resilient. Discretion is often given only minimal attention at best. Clients deserve and should demand the highest levels of confidentiality, right from when communications start with any potential service provider, through to when services are provided and even if the relationship ends, no matter the reason.
Access to expertise:
Immediate and in some cases exclusive access to subject matter experts, is vital for a MFO. Clients do not wish to see their needs catered for by artistic use of a web based search engine, nor by favors called in. That is how disaster strikes in the hemorrhaging of information (discretion compromised), or a terrible service experience. Professional MFO’s manage a wealth of vetted, tried, tested, audited, competitively priced and proven suppliers. This is the life blood of the best MFO’s.

Choosing a Multiple Family Office is an important task. Not everyone who offers MFO services is truly worthy of the title.

Protector Services Group is an elite integrator. A proven entity with Global reach, and Local capabilities

Our Multiple Family Office service is supported by world class experts, and dedicated-exclusive partners