Security guide
Access rights concept: who may see what in a family office
Updated: · Leutrim Miftaraj, FLIORE · Editorial standards · Other languages: Deutsch · Français · Español
Short answer
An access rights concept defines who in the family office may access which data and carry out which actions. Its principles are need-to-know, roles instead of individual rights, segregation of duties for payments and approvals, time-limited access for external advisers and a regular review of all rights. Data protection law and ISO 27001 call for exactly these measures to protect confidential data.
Why a concept is needed
A family office holds a family's most confidential data: wealth, estate arrangements, healthcare powers of attorney, conflicts. At the same time, many people work with it – the team, family members, tax advisers, lawyers, asset managers. Without a concept, rights grow uncontrolled over the years: former advisers keep their access, interns see the total wealth, and no one knows any longer who may do what.
Principles
- Need-to-know: each person sees only what they need for their task.
- Roles instead of individual rights: rights are granted through roles, such as management, accounting, compliance, assistant, external adviser.
- Segregation of duties: whoever enters a payment does not approve it themselves.
- Time limits: external access ends automatically when the project ends.
- Traceability: granting, changing and using rights are logged.
Involving family members properly
Not every family member should see everything. A common rule: everyone sees their own wealth and the structures in which they hold an interest; only certain people see the total wealth, such as the founding generation or the family council. The next generation is given insight step by step. These rules should be discussed with the family and recorded in writing, ideally in the family constitution.
Introducing a concept
- Record the data areas and their protection needs: wealth, documents, personal data, payments, compliance.
- Define roles and set read, write and approval rights for each role.
- Check existing access against the concept and clean it up.
- Make two-factor sign-in mandatory for all users.
- Review rights at least every six months and withdraw them immediately when someone leaves.
Legal framework
The Swiss Federal Act on Data Protection requires data security appropriate to the risk; Art. 32 GDPR requires appropriate technical and organisational measures. ISO/IEC 27001 contains concrete requirements for access control and access rights. For supervised financial intermediaries, supervisory requirements on operational risks apply in addition.
In FLIORE
FLIORE grants rights through roles, separates organisations at database level (row level security), supports two-factor sign-in that can be enforced across the organisation and marks external advisers separately. The client portal shows families only expressly released content; every change appears in the audit trail.
At a glance
| Guiding principle | Need-to-know and segregation of duties |
|---|---|
| Review | At least every six months, immediately when someone leaves |
| Legal framework | FADP (CH), Art. 32 GDPR, ISO/IEC 27001 |
Terms on this page
- Audit trail
- An unalterable log that records who created, changed, approved or deleted which data and when.
Frequently asked questions
Who is responsible for the access rights concept?
The head of the family office bears responsibility; implementation often lies with compliance or a person responsible for IT. What matters is that someone actually carries out the regular review.
Should external advisers get their own access?
Yes – better than shared logins or email attachments. Individual, time-limited access with restricted rights is safer and traceable.
How is emergency access handled?
Documented emergency access, sealed or accessible only under the four-eyes principle, prevents a standstill if a key person is unavailable. Its use must be logged and reviewed afterwards.
Do small family offices need a formal concept?
Even with three employees, a simple written rule is worthwhile. It prevents rights from growing uncontrolled over the years.
What is the difference between a role and a right?
A right permits a specific action, such as reading the documents of a mandate. A role bundles several rights for a function, such as accounting. If rights are granted through roles, a change of staff only requires the role to be reassigned.
Sources
- Swiss Federal Act on Data Protection (FADP/DSG) – Fedlex
- General Data Protection Regulation (EU) 2016/679 – EUR-Lex
- ISO/IEC 27001 – information security management systems
This page provides orientation and does not replace legal or tax advice. The cited legal sources in their applicable version are authoritative.
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