For decades, the gold standard of wealth management for the ultra-high-net-worth was the single family office — a dedicated team of professionals managing every aspect of a family’s investments, tax strategy, estate planning, and lifestyle. These offices were bespoke, discreet, and comprehensive. They were also expensive.
The cost of operating a single family office often exceeds $1 million annually, covering salaries for portfolio managers, tax experts, attorneys, and administrative staff. Just how much does it cost to start a single family office? Beyond the capital requirements, families must be prepared to hire, house, and oversee a full team — a structure that typically makes sense only for those with $200 million or more in assets.
Why the Traditional Model Doesn’t Fit Everyone
Many ultra-high-net-worth families — those with $10 million, $50 million, or even $100 million in assets — still face the same complexity as billionaires: multiple advisors, CPAs, attorneys, insurance consultants, and bankers. They must coordinate meetings, share documents, and ensure strategies are consistent across every domain.
Even when these professionals are collaborative, the client often becomes the de facto project manager — the one scheduling appointments, forwarding emails, and tracking follow-ups.
This is the “old way” of fractional wealth management: an informal, client-driven coordination process where each professional is excellent in their lane but the integration relies on the family’s own time and oversight.
Enter the Fractional Family Office
A fractional family office changes the equation. Instead of building a full in-house team, families engage an experienced leader to act as the single point of contact — the Family Office President — but on a fractional basis.
This role is neither investment manager nor CPA, but a strategic coordinator who ensures that all specialists are aligned and informed. The Fractional Family Office President (FFOP) oversees the process, manages communication, and makes sure that nothing slips through the cracks.
The difference between a single family office and a multi family office is often a question of exclusivity versus shared resources. A multi family office serves several families at once, offering economies of scale but less personalization. A fractional family office borrows from both worlds: the dedicated attention of a single family office president, but without the full-time staffing costs.
The Economics of an FFOP
For families exploring how to start a single family office, the numbers can be daunting. Recruiting the right professionals, maintaining infrastructure, and managing day-to-day operations is a full-scale business. The question of how much should I pay my single family office president can be equally eye-opening: many command $250,000 to $500,000 annually, plus performance bonuses.
The FFOP model makes this expertise available without the full-time expense. Families pay for leadership and oversight proportionate to their needs, making high-level coordination accessible to a broader range of ultra-high-net-worth households.
Hire Amy Parvaneh as your Family Office President
Amy Parvaneh’s Approach as FFOP
At Select Advisors Institute, founder Amy Parvaneh serves as a Fractional Family Office President for ultra-high-net-worth families nationwide. Her role includes:
Sourcing and vetting best-in-class advisors, CPAs, attorneys, and other specialists.
Coordinating their efforts so strategies across investment, tax, estate, and insurance are fully aligned.
Scheduling and facilitating key meetings, ensuring every participant has the right information in advance.
Tracking deliverables and deadlines so the family is free from the burden of administrative follow-up.
By separating the execution of investments, legal work, and tax filings from the oversight role, Amy ensures each professional can excel in their area — while the family benefits from a unified, coordinated plan.
The New Standard for UHNW Coordination
In a world where wealth management is increasingly fragmented, the Fractional Family Office President is becoming the bridge that ultra-high-net-worth families need. It’s a model that delivers the clarity and control of a traditional family office, the cost efficiency of a fractional structure, and the leadership of an experienced president without the overhead of a full-time hire.
For families who want the benefits of a single family office without the operational weight, the FFOP may well be the future.
Important Disclosure: Select Advisors Institute provides coordination and consulting services only. We do not provide investment advice, manage client assets, prepare tax returns, or provide legal services. Any references to other professionals are for illustrative purposes only. Clients are encouraged to perform their own due diligence before engaging any third-party professional.
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Select Advisors facilitates family governance meetings and offsites for ultra-high-net-worth families. We don’t offer investment advice—we coordinate your legal, tax, and financial professionals to ensure your family communicates effectively across generations. From agenda design to documentation and follow-up, we serve as a neutral facilitator focused on structure, clarity, and long-term alignment. Whether you're planning your first family wealth meeting or organizing a multi-generational retreat, we help make the experience meaningful, strategic, and tailored to your family’s needs. Ideal for families with trusts, shared assets, philanthropic goals, or multiple advisors who want clear communication and a repeatable family governance framework that lasts.