For years, single family offices were the gold standard. But with rising complexity, tighter margins, and global dispersion, a new model is gaining traction: the Virtual Family Office (VFO).

Key Takeaways

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Adopt a lean, tech-powered model - ditch full-time staff and office overheads for a digital team supported by secure platforms like Masttro.
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Centralize wealth oversight – use a single digital infrastructure to manage investment strategy, estate planning, private assets, and family governance.
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Customize services flexibly – tailor your VFO with specialists across tax, legal, lifestyle, and philanthropic areas based on your evolving needs.
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Enable secure, modern collaboration – replace PDFs and email with encrypted portals to streamline reporting and communication.
Virtual Family Office: A New Model for Managing Complex Wealth

What Is a Virtual Family Office?

A virtual family office delivers the same core services as a traditional family office, such as investment management, estate planning, succession support, tax advisory, and lifestyle coordination, but without the overhead of full-time staff or a physical office.

Instead, VFOs rely on a lean team of independent professionals, supported by advanced technology, to coordinate a comprehensive suite of wealth management services for high-net-worth and ultra-high-net-worth families.

This model gives individual families access to the capabilities of a full house team without the cost, complexity, or administrative burden of running one themselves.



Why Virtual Family Offices Are Growing

More affluent families are embracing the VFO model for five core reasons:

  1. Lower cost structure
    Families no longer need to fund full-time payroll or office expenses. VFOs are far more cost effective, especially for families with $25M–$100M in net worth.
  2. Flexible and customizable service
    Families can mix and match providers (investment advisors, tax specialists, concierge services) based on evolving needs.
  3. Technology-first operations
    Secure platforms like Masttro centralize performance tracking, family governance, document management, and private investments in one place.
  4. Global accessibility
    With wealth and family members spread across regions, virtual access and remote coordination are no longer optional, they're expected.
  5. Faster onboarding, faster value
    No need to stand up a legal entity or hire full-time staff before gaining visibility and control over total wealth.


A Digital Office Built for Complexity

A virtual family office isn’t about doing less, it’s about doing it differently. With the right foundation, VFOs offer full control across asset classes, estate structures, and jurisdictions.

Platforms like Masttro make this possible through powerful features, purpose-built for family office teams:

  • Global Wealth Map
    Visualize every legal entity, ownership stake, and asset class (real estate, alternatives, passion assets, and liabilities). All structured for inheritance, reporting, and control.
  • Automate alternatives
    An AI-powered module automates the ingestion and reconciliation of capital calls, distributions, and valuations from private equity and venture funds.
  • Secure Collaboration
    Share reports, documents, and sensitive updates through a secure, encrypted portal - no PDFs, no email attachments.
“With Masttro we built an institutional-grade infrastructure for a billion-dollar family – without needing a full back office.”
Daniel Forman, CIO, Jefferson River Capital


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Case Study: Jefferson River Capital Single Family Office

How Masttro Helped Build An Agile Single Family Office Infrastructure
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Core Services in a Virtual Family Office

What gets outsourced vs. coordinated internally will vary by family, but most VFOs cover a similar range of services:

  • Investment strategy and manager selection
  • Tax planning and optimization
  • Comprehensive estate planning services
  • Succession planning and family governance
  • Insurance analysis and risk management
  • Alternative investment oversight
  • Document vault and digital recordkeeping
  • Concierge services, philanthropy, and lifestyle management

And unlike fragmented advisor models, the VFO brings everything under one digital roof, delivering a cohesive view of total wealth.

Not all families need the same support. Here's a breakdown of the most common services available in a VFO and which ones are typically included.

Service Area Included in VFO Model What This Covers
Investment Management Yes Advisory support, portfolio oversight, access to private investments, long-term strategy development
Estate Planning Yes Wealth transfer planning, asset protection, succession structures, legal coordination
Tax Advisory Yes Tax strategy, compliance, optimization across jurisdictions, coordination with tax partners
Family Governance Yes Mission statements, governance frameworks, decision-making processes, generational continuity
Lifestyle Management Optional Concierge services, household staff management, travel, wellness, and security planning
Technology Infrastructure Yes Digital reporting tools, secure collaboration portals, mobile access, centralized data
Risk Management Yes Legal oversight, privacy safeguards, liability protection, insurance coordination
Alternative Assets Yes Real estate, venture capital, private equity, collectibles, and other non-traditional holdings
Reporting & Visibility Yes Real-time dashboards, consolidated statements, document storage, audit-ready records
Coordination & Admin Yes Family office coordination, external advisor oversight, internal task and calendar management


Built for Transition, Designed for Scale

As families grow more global and portfolios include more private investments, static tools like spreadsheets or PDF reports no longer suffice.

A comprehensive wealth platform, Masttro empowers the VFO model with:

  • Direct custodian connections to 600+ institutions
  • Real-time cash flow tracking across entities
  • Consolidated reporting for financial and non-financial assets
  • Audit-ready history for compliance, tax, and legal needs
  • Military-grade security and encryption protocols, on web and mobile app
  • Flexible license models that scale with complexity, not assets under management

“We’ve grown from boutique advisory to full MFO thanks to Masttro. It lets us operate across borders, with visibility that rivals a top-tier private bank.”
— Henry Urquidi, Futura Asset Advisors

Who Needs a Virtual Family Office?

Families who benefit most from the VFO model often share these characteristics:

  • Have a complex business structure or multiple legal entities
  • Require support with succession planning and intergenerational wealth transfer
  • Seek a cost-effective alternative to a traditional family office or full-time staff
  • Need a holistic wealth management plan that includes both financial and lifestyle assets
  • Want expert advice on estate planning, philanthropic advisory, and tax planning
  • Prefer digital tools, encrypted portals, and real-time dashboards over static PDFs
  • Manage private investments, real estate, or other alternative assets across jurisdictions
  • Value asset protection planning, compliance support, and a clear financial strategy

Is a Virtual Family Office Right for Your Family?

If your family is managing assets across multiple jurisdictions, facing an intergenerational wealth transfer, in need of a complex estate and succession planning solution or just looking for a more cost-effective alternative to a traditional family office, then a VFO could be the right next step.

The question isn’t whether to go virtual, it’s whether you have the platform to do it right.



Talk to Masttro

We support single-family offices, MFOs, and family enterprise advisors with the infrastructure to run virtual family offices at scale. If you're exploring the VFO model, or evolving your own, get in touch to discover how we can help.

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