Multi family office

A service provider that looks after the wealth and affairs of several unrelated families.

In practice

In practice, a multi family office has to keep the data of each family strictly separate, document its due diligence for each client relationship and manage conflicts of interest, for example between its own products and client interests. Fee models range from fixed fees to percentages of assets under management; they should be transparent and agreed in writing. Reporting must follow a consistent standard across clients while reflecting each family's structures.

Distinctions and common mistakes

Whether a licence is required depends on the services actually provided, not on the name. A common mistake is to offer investment advice or asset management to several families without clarifying the regulatory status beforehand.

Related terms

Single family office

An organisation that manages exclusively the wealth and affairs of a single family.

FinIA (Switzerland)

Swiss act which, among other things, requires portfolio managers and trustees to obtain a licence from FINMA.

Mentioned in these guides

• What is a family office?What a family office is, what it does, how single and multi family offices differ and when a family needs one – a clear, sourced overview.
• Family office software for SwitzerlandWhat Swiss family offices need from software: structures across jurisdictions, AML due diligence, automatic exchange of information and Swiss data storage.
• Virtual family office: lean core, strong networkWhat a virtual family office is, who it suits, how a lean core coordinates external specialists and why a shared data foundation is the key requirement.
• Suspicious activity reports to MROSWhen Swiss financial intermediaries must or may report to MROS, how reports are filed through goAML, and what follows: tipping-off ban, freezing, termination.
• Software for the multi family officeMulti family office software: many families in parallel, strict data separation, risk assessment, audit trail, reporting, invoicing and client portal.
• Single vs. multi family office: the differencesSingle or multi family office? Differences in mandate, cost, regulation, confidentiality and organisation – with a comparison table and notes on software.
• KYC and anti-money laundering in the multi family officeKYC in a multi family office: identification, beneficial owners, risk-based assessment and periodic review – step by step and documented for audit.
• Software for multi family offices in SwitzerlandMulti family office in Switzerland: FinIA licence, supervisory organisation, AMLA due diligence and data protection – and how FLIORE maps these duties.