Family Office Navigator
GET READY FOR YOUR FAMI LY OFF ICE JOURNEY | 42 Family office archetypes SINGLE FAMILY OFFICE (SFO)
There is no one-size-fits-all model for the family office. Every family enterprise ecosystem is unique and constantly changing and evolving. Each family has specific circumstances and needs which influence the type of family office that might work best. While each family office is unique, there are archetypal forms of family offices that have gained significance over the years. We will now introduce the main archetypes of the family office that exist today, which may provide a guiding framework for your own journey, to ultimately help you choose the right family office type for your circumstances. Later in the book, when we discuss the structure for your family office, we will go deeper into these various archetypes, including the pros and cons of each archetype as well as the factors that you should take into account when deciding on the most suitable one for you and your family.
MULTI FAMILY OFFICE (MFO)
HYBRID / VIRTUAL FAMILY OFFICE
Family office that has been set up by one family to take care of their specific needs
A family office that is set up to simultaneously serve multiple, typically unrelated, families
Uberization of the family office! An ecosystem-type approach where the needs of the family are served by a network of providers, and where they do not need to “own” everything themselves
Closed, family-owned MFO Started by multiple families, serving their needs, exclusively Independent, commercial MFO Started by one family (or professionals) which evolved to serve multiple families
SFO
Started by, and serves one family (or one branch within a wider family)
Single “Multi” Family Office
Started by, and serves multiple (or all) branches of a wider family
Dependent, commercial MFO
Started by a bank, lawyer, etc. to serve multiple families
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