Knock, knock. Who’s there? SFO. SFO who? SFO not you, that’s who.
Never heard of SFOs? Don’t sweat it, commoner. Most people never hear about them since only a small handful of people have enough money that the ever have the option of having their money thus managed. As a rule of thumb, you can start thinking about getting an SFO for your own family once the total you can put under its management is about $100 million.
Also, the number of money managers who work in them is also kept quite small. The tendency toward a small staff may be in part to keep the income generated in a small number of hands, but the real reason driving that is that these money managers need to have very close and amicable relationships with their clients.
Makes sense, doesn’t it? Wouldn’t you focus on the relationship if a single client meant everything to your income, your business, your family, and your future? Not only are the relationships close, they tend to be lifelong, or longer, which is to say a single manager may guide a family’s finances for multiple generations.