Single Family Office — An Independent Second Opinion
Independent pricing, cost decomposition and concentration analytics the family owns.
A lean family office relies on its managers and product providers for reporting, but has no independent view of what it actually owns or what it is really paying. We would price the structured holdings, decompose the embedded costs, and profile concentration — then leave the family with right-sized analytics it owns outright.
The Challenge
The office is capable and well-advised, but every number it sees comes from the same managers and product providers who sold it the exposure. Structured holdings are marked at provider valuations, fees are bundled into product wrappers, and there is no independent line of sight into concentration across a portfolio built up over years.
The family doesn't want to build an in-house quant team, and it doesn't need a heavyweight risk system. What it needs is a credible, independent second opinion it can take into IC discussions and manager conversations — and continue to use afterwards.
The Approach
We would run a focused engagement to produce transparency where it matters most, delivered as tools the family can keep and re-run.
1. Independent pricing of the structured book
We would re-price the structured holdings from first principles rather than accepting provider marks, so the family can see fair value and the sensitivity of each position to the moves that actually drive it.
2. Decomposing embedded cost
We would break apart the bundled economics of the products — the spreads, funding and optionality priced into the wrappers — so the true cost of each holding is visible rather than hidden inside a headline.
3. Profiling concentration
We would look through managers and products to the underlying exposures, surfacing where risk is quietly concentrated by issuer, factor and theme across the whole portfolio.
What we'd deliver
Independent valuations of the structured book, a decomposition of embedded costs, and a look-through concentration profile — packaged as a lightweight, documented analytics set the family owns and can re-run for future IC and manager meetings.
The Likely Outcome
The family would gain an independent, self-owned view of its portfolio — fair values it doesn't have to take on trust, a clear picture of what it's really paying, and a concentration profile that informs the next round of manager conversations. Because the analytics are built to be right-sized and portable, the value wouldn't end with the engagement.