All multi-family office firms go through a rigorous due diligence process before Sonder Partners will recommend them to any potential clients. We consider multiple objective data points, including: total clients, # of employees, # of advisors, advisor to client ratio, average AUM per client, client minimums, AUM growth, client growth, types of clients served, client references, centralized resources and accessibility, advisor team structure, team credentials, compensation and incentive model, MFO lineage, prior experience, fee competitiveness, services offered, reporting software, specialties, investment approach and philosophy, investment committee structure, asset allocation process, manager selection process, and access to other investment opportunities.
In addition, given our clients often choose to work virtually with their family office, we physically visit each office as part of our due diligence process. This allows us to spend time with the firm’s full staff to assess how they operate as a team and take a deeper dive into the following areas of their practice:
i. Investment Management
ii. Financial Planning & Tax Structuring
iii. Family Office Services
iv. Technology
v. Compliance Practices
vi. Internal Communication
vii. Customer Complaints or Regulatory History
As a final stage of diligence, the MFOs in our network are screened by our independent Advisory Committee comprised of experienced family office industry professionals before we decide to engage in a partnership with that firm.