1. Governance & oversight: who ensures long-term alignment?

• Do you have a clearly defined Investment Policy Statement (IPS) that actively guides decisions?
• Who is responsible for monitoring investment strategy alignment — a family office, investment committee, or external governance partner?
• Are investment decisions systematically reviewed to prevent strategy drift and short-term reactivity?
• Do you have independent oversight to detect misalignments and conflicts of interest?
• Is your governance structure designed for long-term continuity, ensuring resilience across generations?
• Does your decision-making process include checks and balances to avoid impulsive or trend-driven investments?
• How are major investment decisions evaluated against long-term strategy rather than emotional biases?
• Is there a structured plan for next-generation involvement, financial education, and long-term stewardship?

 

2. Choosing the right investment execution model: build or buy?

• Which model best fits your needs: Single-Family Office (SFO), Multi-Family Office (MFO), or a hybrid approach?
• Have you assessed the costs, expertise, and operational burden required to operate an SFO?
• Does an MFO or external governance partner offer the right balance of customisation, efficiency, and independence?
• If using a hybrid approach, have you defined which functions remain in-house vs. outsourced?
• Have you considered whether your chosen model is scalable as your wealth structure evolves?
• If you operate an SFO, have you accounted for regulatory compliance and operational demands?
• Do you periodically assess whether your governance model should evolve as investment needs change?

 

3. Cost efficiency & transparency: what are you really paying for?

• Are all investment management fees fully disclosed and tracked?
• Do you have a clear view of layered costs across advisory, management, and transactions?
• Are you paying for active management that adds value, or could passive strategies be more cost-effective?
• Have you reviewed your investment cost structure to optimise efficiency and avoid unnecessary expenses?
• Do you have a fee-monitoring process that negotiates and optimises costs regularly?
• How often do you review and renegotiate manager fees to ensure cost-effectiveness?

 

4. Risk management & performance monitoring: are you in control?

• Have you reviewed all manager positions to confirm real diversification rather than hidden overlap?
• Is there a unified risk assessment across all investments to prevent concentration risks?
• Are liquidity needs aligned with your asset allocation strategy?
• Are all investment managers monitored against relevant benchmarks with a structured review process?
• Is overall portfolio risk tracked across all managers and asset classes?
• Is risk exposure assessed continuously, or only during market downturns?
• How frequently are stress tests and liquidity planning conducted?
• Are underperforming managers held accountable and replaced when necessary?

 

5. Strategic & tactical asset allocation: is your portfolio built for the long term?

• Do you have a clear Strategic Asset Allocation (SAA) that aligns with long-term goals?
• Is Tactical Asset Allocation (TAA) used to enhance flexibility without overriding strategic discipline?
• Are illiquid investments (e.g. private equity, real estate) properly balanced against liquidity requirements?
• Is your asset allocation structured to evolve with generational shifts and risk preferences?
• Does your IPS provide a clear strategic framework for asset allocation and risk management?
• Are rebalancing policies structured to keep your portfolio aligned rather than reacting to market fluctuations?
• Are rebalancing policies structured to keep your portfolio aligned with the IPS, ensuring SAA and TAA remain strategic rather than reactive to market trends?

 

6. Governance in family business & direct investments: managing dual roles

• Do you have a comprehensive financial overview integrating liquid assets, direct investments, and family business holdings?
• If you have operating businesses or direct private investments, are they governed separately from your liquid investment strategy?
• Have you established clear boundaries between personal liquidity, business capital, and long-term investments?

 

7. Regulatory & compliance: are you staying ahead of the curve?

• Is your governance structure designed to meet tax and compliance requirements across jurisdictions?
• Are regulatory reporting and governance filings actively managed?
• How frequently are legal, tax, and compliance risks reviewed?
• Does your governance model include a compliance framework that aligns investment decisions with fiduciary responsibilities?

 

8. Technology & reporting: do you have a full picture of your wealth?

• Are your investment decisions driven by clear, consolidated data, rather than narratives from individual advisors?
• Do you have full visibility across all banks, managers, and investment accounts?
• Can you track liquidity, risk exposure, and asset allocation in real time?
• Are fees and performance independently monitored, rather than relying on self-reported data from managers?
• Is technology used to enhance governance efficiency, beyond simple data aggregation?
• Does your reporting system provide proactive risk monitoring, identifying potential misalignments early?

 

9. When to re-evaluate governance: is your model still the right fit?

• Has your investment complexity increased, requiring more structured governance?
• Have liquidity needs changed, influencing the balance between liquid and long-term holdings?
• Is succession planning driving a need for governance adjustments across generations?
• Have regulatory and operational burdens made an SFO or in-house governance model less viable?
• Is your governance model at risk of drifting into passive oversight rather than active strategy alignment?
• How frequently is your governance model reviewed to adapt to changing wealth, complexity, and family needs?