Single family office: how one family runs its own office

What is a single family office in practice?

In practice a single family office is a small organisation with one client: the family. It receives statements from every bank and custodian, consolidates them, tracks obligations, briefs the family on decisions and instructs advisers. Everything it does serves the goals the family has written down, which gives the work a clear and stable direction.

A typical week holds routine tasks and a few judgment calls. The team pays invoices, reconciles accounts, prepares reports and answers questions from family members. It also challenges proposals from outside providers, because a team that serves one family has the time to read every proposal in detail.

Who owns and directs a single family office?

The family owns the office, usually through a company it controls, and a senior family member or a board sets the mandate. The mandate states the goals, the limits on risk, the reporting calendar and the decisions that need family approval. A written mandate protects the team from guessing what the family wants.

The head of the office, often called the chief executive or the chief operating officer, runs the team and reports to the family. A good head translates family priorities into tasks and tells the family early when a request carries risk. That candid channel is a key feature of the model.

When does a single family office fit a family?

A single family office tends to fit when the estate is large, the assets sit in several jurisdictions and the family makes frequent decisions. It also fits when privacy matters strongly or when the family runs an operating company next to its investments. Under those conditions a dedicated team earns its place.

Run a 4-question check. Do you need weekly coordination? Do assets sit in more than 1 country? Do several family members take part in decisions? Can the family give management time to a team? Four yes answers favour a private office, while fewer answers suggest a shared or virtual model.

What does the annual budget of a single family office include?

The annual budget of a single family office groups into 5 lines: people, premises and technology, professional fees, insurance and compliance, and a reserve for projects. People form the largest line in most offices. Each line is a choice, and the family can resize it as the workload changes.

The single family office cost page walks through each line and shows how to build a budget from your own list of functions. A budget built from functions lets the family compare the private office with shared options on the same basis, and update it each year with real figures.

Which team members does a single family office build around functions?

Roles follow functions. An office usually needs a head, an investment lead, an accountant or controller, and an administrator. Legal, tax and technology support come from staff or from outside firms. The single family office staffing page describes each role, the skills to look for and the order in which to hire.

Start small and add roles when a task repeats. A new hire should own a clear function, report to a named person and have a plan for backup during absence. This approach builds a team that matches the workload and gives the family a clear reason for every position.

How is a single family office structured and governed?

Most single family offices run through a private company that the family owns, with a board or a family council above it. The company employs the staff, holds the contracts and keeps the records. The structure should match the licensing position of the planned activities, which a qualified adviser confirms before launch.

Governance sets who can approve what. A simple approval table lists the decisions the head can take alone, those that need a second signature and those that go to the family. With that table in place, the team moves quickly on routine items and brings the larger choices to the right people.

Which risks should a single family office plan for?

Three risks come with a small private team: dependence on a few people, concentrated knowledge and slow change. Written procedures, shared access to records and cross-training reduce the first two. A yearly review of the mandate keeps the office aligned with the family’s current priorities.

Cyber and fraud risks need equal attention, since an office handles payments and sensitive data. Payment approvals by 2 people, tested backups and clear rules for external requests protect the family. Continuity also needs a plan for the head’s absence, written before it is needed.

How can a family decide whether to start its own office?

List your functions, your assets by country and your decisions per year, then compare a private office with shared and virtual options. The EQOS Asia pricing page lists formats that score a decision across 9 life dimensions, so the choice rests on a structured view and not on habit.

A free 30-minute pre-diagnostic helps you frame the comparison (EQOS Asia private page, 2026). Reserve it through the contact page and bring your list of assets, advisers and decisions. You leave with a clear next step and the questions to ask providers.

Frequently asked questions

About the author

Stéphane Jambu

President, EQOS Forecast Asia

Stéphane Jambu leads EQOS Forecast Asia and works as a consultant in e-commerce, search visibility, and AI. LinkedIn profile