The number one driver of single family office costs is complexity, including the scope of services offered, size of the family, and entities served by the office.  This study examines the three components of offices costs (internal office costs, external advisory costs, and external investment costs) using data from U.S. family offices and highlights strategies that families and their advisors can use to mitigate unnecessary complexity in the office, thereby increasing efficiency and lowering overall costs. Through the use of data and case studies, this study helps families and their advisors:

• Develop a deep understanding of single family office costs and cost drivers, including external investment costs 
• Engage clients or other family members in deeper and more frequent conversations about office costs, fees, and funding 
• Identify sources of unnecessary complexity and reduce costs by mitigating them within the family’s wealth structure 

This study of single family office costswas conducted in partnership with Pitcairn, a multi-family office based in Philadelphia, PA. 

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