Managing great wealth is a full-time operation. For families with $30M+ in assets, the question isn’t if you need professional help — it’s how you structure it. And increasingly, the answer is not the traditional Single Family Office (SFO), but its leaner, more strategic cousin: the Multi Family Office (MFO).

This guide walks you through what a multi-family office is, why it’s rapidly becoming the preferred model, and how to engage or establish one — all through the lens of cost-efficiency and access to elite expertise.

Understand What a Multi-Family Office Really Is

At its core, a multi-family office is a wealth management firm that serves multiple unrelated high-net-worth families under one umbrella. Unlike a bank or generic investment advisor, an MFO offers bespoke services typically reserved for a single-family office, but at shared cost and scale.

MFOs typically provide:

  • Investment management
  • Estate and tax planning
  • Family governance
  • Philanthropy advisory
  • Lifestyle services (concierge, private education, travel, etc.)
  • Risk mitigation and insurance structuring
  • Succession planning

The key differentiator? Shared infrastructure. This allows families to tap into elite services without bearing 100% of the cost.

Know the Breakpoint — When an MFO Makes More Sense Than an SFO

Single-Family Offices are like bespoke private companies set up to serve just one family. While they offer full control and customization, they come with massive fixed costs — typically $2M–$10M+ annually, depending on scope and headcount.

If your net worth is under $250 million, an SFO may be overkill.
Many families in the $30M–$250M range find that MFOs deliver 80–90% of the value at 30–40% of the cost.

Multi-family offices pool resources and talent, allowing families to:

  • Access a broader team of experts
  • Share legal, accounting, and infrastructure overhead
  • Pay variable (not fixed) fees aligned with assets or services
  • Gain buying power and institutional-grade investment access

This creates significant cost efficiency while maintaining high-touch, family-centric service.

Analyze the Strategic Advantages of MFOs

MFOs are not just cheaper — they’re often smarter strategically:

Broader Talent Access

MFOs can afford to hire top-tier legal, tax, and investment professionals that an SFO couldn’t sustain alone.

Institutional-Level Infrastructure

From reporting software to cybersecurity to due diligence platforms, MFOs run on enterprise-grade systems that are cost-prohibitive for SFOs.

Conflict-Free Advice

The best MFOs operate on a fee-only fiduciary model, avoiding product pushing or conflicted incentives common at private banks.

Collaboration and Idea Flow

MFO clients often benefit from cross-family learning, access to co-investment opportunities, and more agile governance frameworks.

Choose Your MFO Model

There are two main ways to engage with a multi-family office:

1. Join an Existing MFO

Most families start here. You pay a management fee (usually a % of AUM or flat retainer), and in return, receive access to a menu of services.

Look for:

  • Fee transparency
  • Team bios and turnover rates
  • Customization options
  • Governance and reporting tools
Tip: Some elite private banks offer MFO-style platforms — but be wary of hidden product incentives.

2. Establish Your Own MFO Platform

Larger families ($250M–$1B+) sometimes build or sponsor a platform that serves themselves and a few aligned families.

Why do this?

  • More control and tailored structure
  • Ability to handpick client families
  • Shared risk and cost
  • Potential to evolve into a commercial MFO

This hybrid model offers the culture of an SFO with the cost-sharing of an MFO.

Vet the Right MFO Partner

Choosing an MFO is like choosing a long-term strategic advisor. Ask these questions:

  • What’s your ownership structure? (Avoid firms owned by banks or asset managers.)
  • Do you receive any commissions or third-party incentives?
  • Can I customize the service stack?
  • What’s your turnover rate and succession plan?
  • How do you protect my data and privacy?
Pro tip: Look for firms with flat hierarchies, integrated teams, and proven multi-generational success stories.

Monitor, Evolve, and Empower Your Family

Once onboarded, families should treat the MFO relationship as dynamic. Wealth evolves. So do needs, family structures, and global markets.

Set quarterly strategy reviews, implement a family charter, and consider engaging in family education programs — many MFOs offer in-house curricula.

The Bottom Line: MFOs Are Smart Wealth Architecture

In a world where wealth alone no longer guarantees legacy, Multi-Family Offices offer a rare combination: institutional expertise at a shared cost, customized for human complexity.

They’re not just a cheaper alternative — they’re a strategic force multiplier for modern wealth holders.

If your family is evaluating wealth management structures, ask not just what you can afford — ask what enables your legacy to thrive.
Interview 2–3 MFOs. Challenge them on cost, transparency, and talent. And choose the one that treats your complexity as an opportunity — not a transaction.