The critical role of a family office

Establishing a family office is a strategic move for families to manage their wealth and affairs while creating or maintaining a legacy. It provides a structured approach to establishing priorities and making decisions on handling business interests, investments, tax planning, and estate management, ensuring that the family's financial affairs are in order. Our family office services are customized to align with the family's vision, values, and long-term objectives, which are essential to maintaining the family legacy. For existing family offices, our team can optimize the overall operations already in place through either large-scale transformations or more targeted performance improvement initiatives.

Common shortcomings in establishing a family office
and how we can help

A clearly defined vision and long-term strategy that negatively impacts the structure and decision-making capabilities of a family office

Our team collaborates closely with family offices to articulate a clear vision and formulate a strategic long-term plan that guides decision-making processes. By aligning the family's values and goals with their investment and business strategies, we help ensure that the office operates cohesively and is well-positioned for future growth and succession.

Governance to identify emerging risks and develop action plans to mitigate the risks identified

We can assist in developing  and implementing processes and procedures to establish a more structured governance framework to align the family’s vision with its business strategy and succession planning.

Defined policies and procedures that support effective and efficient operations

Our experienced professionals assist with formalizing policies and procedures, leveraging our knowledge of leading practices to ensure that they align with the company’s strategy. Streamlined processes support timely reporting so family members can make better informed decisions.

 Steps for forming a family office


  • Vision and purpose: define your vision and purpose for the family office and understand the needs and expectations of your family and its wealth
  • Assessment: conduct an extensive review, including interviews with family members, to understand past, current, and future visions. This assessment guides the overall plan, covering operations, technology, staffing, advisers, and governance
  • Cost analysis: evaluate the costs associated with setting up the family office
  • Decision point: based on this assessment, decide whether establishing a family office is the right step for your family

Designing & structuring

  • Legal and tax structures: work with family office attorneys and other partners to determine the legal and tax structures that align with your purpose and vision
  • Governance: define governance mechanisms
  • Funding allocation: allocate funds and consider costs
  • Core services: design core services (both in-house and outsourced)
  • Operations and technology: address operational and technological needs
  • Staffing requirements: define staffing profiles
  • Budgeting: establish a budget
  • Reporting requirements: set up reporting processes and controls


  • Execution: put the designed structures and plans into action
  • Team building: assemble the right team members
  • Financial planning: implement financial strategies
  • Policies and procedures: establish policies and procedures
  • Internal controls: refine processes and controls
  • Transparency and communication: prioritize transparency and effective communication
  • Leverage technology: integrate technology within processes for to increase efficiency

Operating & monitoring

  • Ongoing management: continuously manage and monitor the family office
  • Adaptation: be prepared to adapt to changing circumstances
  • Performance tracking: monitor performance against goals
  • Risk management: implement risk management practices
  • Review and adjust: regularly review and adjust processes as needed

Our approach

Our family office services offer tailored support from establishing your vision to optimizing operations.
With a focus on efficiency and client success, we guide companies through every stage of the process, ensuring a solid foundation.


Our team has significant experience successfully working with family offices designing a strategy to navigate complexity.


We offer personalized solutions to support family offices at every stage of maturity.


We are a trusted partner that seamlessly integrates the family's values and goals into your strategy.


We create scalable and sustainable processes, enabling long-term success.

Our services

Socorro Partners offers a wide spectrum of outsourcing solutions in the finance and accounting area to companies across different industries, including private equity portfolio companies.


Assisting with treasury and controllership functions, including financial reporting and bookkeeping
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Enhancing processes through incorporation of technology, through customized services:
  • Software and application selection to support your current and future needs
  • Project management over implementation of technology
  • Automated process and controls design
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Assisting with management oversight and coordination through the creation of policies and procedures and risk mitigation and controls
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