Single vs. Multi-Family Offices

Choosing the Right Operating Model

There is no universally “better” family office model. The right structure depends on complexity, scale, and desired control.

Single-Family Office (SFO)

Typically characterized by:

• Full customization
• Direct governance control
• Higher fixed costs
• Strong alignment with one family’s objectives

SFOs are common when complexity and scale justify dedicated infrastructure.

Multi-Family Office (MFO)

Typically characterized by:

• Shared infrastructure
• Broader expertise
• Lower fixed costs
• More standardized processes

MFOs work well for families seeking professionalization without full internal buildout.

The Real Trade-Off

The choice is not cost vs. quality — it is control vs. leverage.
Many families evolve from MFOs to SFOs over time, or adopt hybrid models.