Many single family offices are set up through automated or semi-automated processes, often without careful thought or design, resulting in a default setting.

The advisory industry has matured in certain countries, enabling families to sidestep this common trap.

A designer approach can save time and resources while alleviating stress for the family’s advisory teams, allowing them to focus on their primary responsibilities and objectives.

Advisory teams must be trained to identify families that could benefit from establishing a single family office solution or other options to enhance their family wealth story. It is crucial to understand the various solutions available and to know when to take action, where to go, and when to start.