Family Office Controller
A family office controller manages accounting operations, financial reporting processes, and internal controls for the office’s entities and activities.
Allocator relevance: A key operational stakeholder for execution accuracy, reporting integrity, and diligence readiness.
Expanded Definition
Controllers handle bookkeeping, reconciliations, entity accounting across trusts and holding companies, and coordination with external accountants and administrators. In investment execution, controllers often ensure wiring controls, documentation completeness, and reporting consistency across managers and vehicles.
They may not influence investment thesis, but they can significantly influence operational readiness and the friction involved in onboarding new investments.
How It Works in Practice
Controllers maintain ledgers, manage reporting calendars, and support audits or reviews. They also coordinate data inputs from custodians, administrators, and managers to produce internal reporting for the family or governance bodies.
Decision Authority and Governance
Controllers often hold process authority and can escalate operational risks. Governance requires clear segregation of duties and approval workflows for capital movements and reporting.
Common Misconceptions
- Controller is interchangeable with CFO.
- Controllers are not relevant to fundraising or onboarding.
- Operational roles have no influence on outcomes.
Key Takeaways
- Controllers protect execution integrity and reduce errors.
- They increase diligence and reporting reliability.
- Often essential for smooth onboarding and ongoing operations.