Let’s start by addressing the second question, drawing inspiration from this quote:

“All happy families resemble one another; each unhappy family is unhappy in its own way.” — Leo Tolstoy, *Anna Karenina*.

Single family offices are tailored to meet the distinctive needs of each family, reflecting their individuality.

These offices must adapt to shifts in family, market, and business dynamics.

A family office is shaped by various factors, including the source of the family’s wealth, their unique narrative, and their long-term vision.

However, most single family offices have similar fundamental functions.

Now, let’s turn to the first question:

To determine if you need a single family office, consider these three questions, with the final one carrying the most weight:

Are you expecting a significant liquidity event?

Is there a need to separate your family’s wealth from the existing ecosystem?

Do you have sufficient investable assets to establish a single family office? Having at least USD 100 million in investable assets is generally recommended, however there are different industry views.

To conclude, all families need a form of family governance, but not all families need a single family office.

To all the sophisticated family office advisors out there, feel free to correct us!

From Africa with love.