A guide to setting up a single-family office, including its benefits, legal requirements, staffing, and technology infrastructure.
Setting up a single-family office (SFO) involves careful planning across legal, financial, and operational dimensions. Legally, an SFO can be structured as a limited liability company or a trust, depending on jurisdiction and privacy needs. Operationally, it requires hiring skilled professionals in investment, legal, and tax functions. Technology platforms are essential for portfolio tracking, document storage, and family communications. Governance is another critical pillar—establishing a family constitution, investment committee, and succession plan ensures alignment across generations. The startup cost for an SFO typically ranges from $1 million to $3 million, with ongoing annual expenses depending on complexity.
