Single vs Multi-Family Office

Families usually move when the cost of a dedicated office outweighs the control benefit, when next-generation wealth is split across more households, or when they need broader specialist coverage than a small SFO can staff. An MFO or hybrid model can keep governance quality while sharing infrastructure and specialists across several families.

A hybrid or multi-single family office keeps a dedicated team for one family on sensitive or bespoke work, while sharing selected services — technology, research, reporting, or specialised staff — with other families or an MFO platform. Families use it when full SFO cost is too high but they still want control over core decisions and confidentiality.

While MFOs often charge higher fees or minimums, they also deliver broader services under one roof. The total cost may be comparable when factoring in legal, tax, and estate planning services that would otherwise be outsourced.

A single family office serves one family and offers full control, privacy and bespoke service, but at a higher cost carried by that one family. A multi-family office serves several unrelated families and shares its costs and infrastructure across them, making sophisticated services more affordable. The trade-off is less control and customisation in exchange for economies of scale and greater cost efficiency.

A single family office typically costs between US$1 million and US$5 million a year, with most mid-sized offices in the US$1 million to US$3 million range. Staffing is the biggest driver, followed by technology and governance or compliance costs. As a rough guide, running costs often equate to around 1% of assets under management.