"Family office" sounds like something for the rich. The idea behind it is much simpler: see your whole financial picture in one place, and manage it on purpose.
Family office – what is it?
A family office is a management model that centralises in one place all the assets and financial aspects of a family or individual. It can include managing investments, pension, insurance, real estate, estates, inheritances, tax planning and day-to-day expenses.
The goal is a single comprehensive view of the whole picture – to save money, prevent duplication and improve decisions over time. Originally this service was common mainly among owners of large capital, but with technological progress it is becoming accessible to ordinary people too.
Then
- A service for owners of large capital
- A team of wealth managers, advisers and accountants
- Information scattered across many bodies and documents
Now
- Digital tools accessible to everyone
- All the data – pension, insurance, bank, credit – at the click of a button
- Visual and clear even for people who don't understand finance
Digital progress changed the game
The technological revolution has changed finance. Today you can reach all your data at the click of a button: pensions, provident funds, insurance, banks and credit – in one place. So the family-office idea no longer needs a large budget, only a smart tool that connects everything together.
That is the essence of a family office in the new era: not just managing money, but understanding it.
It's not just for the rich – it's for everyone
Family-office services used to be reserved for families with large capital. Today, thanks to digital tools, open banking and access to information, you can enjoy these benefits without wealth managers or personal advisers. It is an eye-level approach that suits an employee, a self-employed person, a young family or someone nearing retirement.
Try it yourself: a quick snapshot of assets and liabilities. The numbers stay in your browser.
Open as a full calculator: Net worth calculator
Part of being in order is knowing where your income goes. A simple split into needs, wants and saving is a handy starting point – a rule of thumb you can adapt:
Open as a full calculator: 50/30/20 budget calculator
A personal family office in 5 steps
- 1
Map your assets
Bank accounts, pension, funds, provident funds, investments and property – all on one list.
- 2
Map your liabilities
Mortgage, loans, credit – so you see the net picture.
- 3
Check the costs
Fees, insurance and overlaps – where you can save.
- 4
Set goals
An apartment, children's education, retirement – each with a time horizon.
- 5
Set a review routine
How many times a year you look at the whole picture again.
Order, control and planning ahead
The big advantage is the comprehensive view. It is not a one-time check of your bank account or pension fees, but an ongoing process of control and monitoring. With everything in one place it is easy to spot gaps, insurance duplication and unmanaged savings, and to prepare for future scenarios.
- Buying an apartment
- Retirement
- Helping children
- Inheritances
- Changes in the market or health
A periodic review – what to look at
0 of 6 checked
Your ticks are saved on this device only.
A suggested review rhythm
Every month
A quick look
Balances, unusual spending and alerts.
Every quarter
Savings review
Tracks, returns and fees.
Once a year
A full review
Pension, insurance, goals and inheritance.
When something changes
Update
A birth, a move, a new job or a change in family status.
A simple home version: five layers
Ordinary families do not need a team of investment managers. You can adopt the idea in five layers, from the base to the more complex, and move to the next layer only once the previous one is stable.
Which documents to gather
A basic family file
0 of 6 checked
Your ticks are saved on this device only.
The rhythm of reviews
A successful family office is not a one-off project but a rhythm. Once a month check the budget and cash flow, once a quarter check net worth, and once a year do a full check of pensions, insurance, beneficiaries and goals. After a significant event, such as a birth or a change of job, update everything. You can work out net worth in the net-worth calculator and build the budget with the family budget guide.
Professional advice
Subjects such as a will, a continuing power of attorney, tax and estate planning need a lawyer or licensed adviser. This guide is a general framework and not a substitute for advice.
A 90-day plan
Month 1
Mapping and documents
Gather assets, liabilities, policies and statements, and organise them in a folder.
Month 2
Check cover and costs
Check insurance, management fees and fixed costs, and decide what to change.
Month 3
Planning and rhythm
Set goals, a budget and a review rhythm, and update beneficiaries.
Who does what in the family
Common mistakes
- Running everything in one person's head, with nobody else knowing where things are.
- Organising once and never updating.
- Not updating beneficiaries after a family change.
- Waiting for an event to discover that a document or cover is missing.
A family emergency file
One of the biggest advantages of financial order shows up exactly when something happens: illness, an accident or a death. Family members need to know where things are, not look for them under pressure. A family emergency file is a single, up-to-date document that gathers what you need to know on the day a member of the household is unavailable.
What the file includes
0 of 5 checked
Your ticks are saved on this device only.
How to share financial information in the family safely
- Do not send sensitive documents or passwords in ordinary messages.
- Use a password vault or encrypted storage that the adult members of the household can access.
- Define who sees what: not every family member needs access to everything.
- Update the file after every change, and change permissions when someone leaves the picture.
When to turn to a professional
- Estate planning, a will and a continuing power of attorney: a lawyer.
- Tax on assets, a business or different incomes: an accountant or tax adviser.
- Choosing pension and insurance products: a licensed pension adviser or insurance agent.
- Large investment decisions: a licensed investment adviser.
A home family-office framework helps you reach the professional prepared: with a full picture, documents and precise questions. That saves time and improves the quality of the advice.
A half-hour family money meeting: an agenda
A household that runs its money like a family office does not need long meetings. Half an hour at a fixed rhythm is enough:
- 5 minutes: what changed since last time, such as income, a large expense or a change at work.
- 10 minutes: a look at the numbers: net worth, this month's budget and the emergency fund.
- 5 minutes: upcoming dates, such as insurance renewals, report dates and planned withdrawals.
- 5 minutes: who does what before the next meeting.
- 5 minutes: one thing to improve this month. Only one.
Write each decision down in one line. When older parents or adult children are part of the picture, add a question: does anyone need help, or authorised access to accounts in an emergency?
After about three meetings, check what is not working. If the meeting feels too long, shorten it rather than drop it.
Frequently asked questions
Not necessarily. The idea is first of all order and control: seeing the whole picture. Investment or pension advice is a separate licensed service.
Start with a map: gather accounts, savings, insurance and liabilities in one place. Once you see everything you can prioritise what to check first.
A first snapshot can take less than an evening. After that it is enough to refresh it a few times a year or after a major life change.
Yes, in a simple version: mapping assets, organising documents, checking insurance and regular reviews. There is no need for a team of investment managers.
Pension and provident statements, insurance policies, mortgage and loan papers, property papers, beneficiary details and a list of accounts and permissions.
A single up-to-date document that gathers accounts, policies, contacts and the location of documents, so family members know what to do when a member of the household is unavailable.
Want to keep going? Also read: Everything You Wanted to Know About Keren Hishtalmut.
Your whole picture, in one place
Shavve brings pension, savings, bank and insurance together – so you can see everything and understand the numbers.
Join the waiting list
