Family offices

Compliance support for family offices in Singapore.

A family office can have a small team and a complicated structure. Family members, investment vehicles, banks, external managers and trustees may each hold a different part of the information. When a bank asks how wealth was accumulated, a new structure is proposed or someone needs to explain an approval, the records should tell a consistent story.

Advisors Assemble provides practical compliance support for Singapore family offices. We help assess the applicable framework, review source-of-wealth and due-diligence records, prepare policies and organise oversight. You work directly with Jackie, with the work and internal responsibilities agreed before the engagement starts.

Discuss your family office's compliance needs.

Who it is for

Start with how the family office actually operates.

A single-family office managing one family's assets needs a different assessment from a multi-family office managing third-party assets. MAS distinguishes the two models, including the licensing-exemption framework for SFOs and the regulated framework for relevant MFO activities. The family-office label alone does not establish which requirements apply. ^[1]

We can discuss support with SFO principals and operating teams, MFO management and compliance officers, and professional firms supporting families. Where a structure includes a trust or private trust company, the trustee's responsibilities need separate attention. A family office should not automatically be treated as a trust company.

How we can help

Build support around the records and decisions that matter.

Applicable framework and workplan

Review the activities, entities, licence or exemption position and existing arrangements. Identify applicable reporting, review and record requirements, with named owners and a practical workplan.

AML, KYC and source-of-wealth records

Review selected identification, ownership and wealth information, identify inconsistencies or missing support, and help organise a documented assessment. Distinguish requirements applicable to the office from information requested by its banks or other counterparties.

Policies and governance

Prepare or review procedures covering agreed areas such as approvals, conflicts, delegated authority, records and escalation. The procedures should explain who can decide, who must review and what evidence should remain.

Monitoring and management reporting

Review selected controls and outstanding actions, maintain an agreed calendar and prepare concise reporting. Where filings or notifications apply, support their preparation using information approved by the responsible entity.

AI use and confidential information

Assess where staff use AI, the materiality of the workflow, human review and the controls around confidential information. Document the arrangements and check whether staff follow them. We distinguish applicable supervisory expectations from governance measures adopted voluntarily by an exempt office.

Questions, remediation and staff education

Provide agreed support when a bank query, control gap or higher-risk question arises. Help staff understand the procedure and document how management resolves exceptions.

Working together

Work directly with Jackie.

We start with the structure, activities, existing arrangements and immediate concerns. You receive a written scope identifying the review work, information needed, deliverables and management decisions. The engagement may be an initial review, a remediation project or ongoing support.

Your management team remains responsible for its decisions, the accuracy of information and the firm's operating arrangements. Legal structuring, tax advice, investment management and trustee appointments remain with the relevant appointed professionals.

About Jackie and Advisors Assemble

Common questions

What you may want to know.

Does a single-family office need the same compliance programme as an LFMC?

We first assess the actual activities and the current exemption or licensing position. An LFMC workplan should not simply be copied into an SFO. The assessment should also account for reporting conditions, bank information requests and the governance arrangements management has adopted.

Can you help prepare information requested by a bank?

We can review and organise selected due-diligence or source-of-wealth material and identify gaps. The office must supply accurate records, and the bank makes its own onboarding and risk decisions.

Can this include ongoing support?

Yes. We can agree recurring policy, review, reporting and advisory work, with clear responsibilities and scope-based fees confirmed in a proposal.

Sources

MAS: Wealth Management, Family Offices

Start with a conversation

Discuss your family office's compliance priorities.

Start with your operating model, current arrangements and the issue that needs attention. We agree a secure process before requesting confidential records.