Many wealthy families are tempted to convert their single-family offices (SFOs) into a multi-family office (MFOs). The hope is that sharing their office services with other high-net-worth families will help defray costs and retain professional staff. In 2004, Bloomberg Wealth Manager found that of the 64 firms it surveyed, 25 percent had descended from SFOs and 30 percent were owned wholly or in part by one or more of the families they serve. We've seen a number of SFO-to-MFO conversions ...
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