In 2016 the Conseil National adopted a law with respect to the Multi Family Office in Monaco (Monaco MFO).
The Single Family Office is already common in Monaco, for a family to manage their entire patrimony;
Now the Monaco MFO entity will be able to provide a range of services to more than one family. It will be authorised to provide independent assistance to its client families across a range of areas, acting as a coordinator of professional services. It will not be able to undertake the administration of family entities such as trusts and companies, although it will be in a position to coordinate the work of such professions.
Subject to authorisation it will also be able to provide investment advisory services, although it will not be able to provide discretionary portfolio management, or fund management services.