What Should the Family Office Ask Existing Advisers to Provide During the Transition?

During a transition, ask each existing adviser to explain their responsibilities, provide records needed to continue the work, and identify open matters and upcoming deadlines. Put requests and handoff responsibilities in writing so the family office, adviser, and family know what will transfer and when.

Request a Clear Account of the Work

Ask the adviser to describe the scope of the current engagement, the family members and entities covered, recurring services, and work outside the usual arrangement. Request a list of open items, decisions awaiting family input, and deadlines that could be affected by the transition. Ask who on the adviser's team is responsible for each item and whom to contact with questions.

Request an inventory of relevant records, including where they are held, how they are organized, and how the family office can obtain authorized access. Depending on the adviser's role, this may include account statements, transaction histories, tax workpapers, entity records, contracts, insurance information, investment reports, or correspondence. The records needed depend on the family's circumstances. For legal or tax matters, ask the family's attorney or CPA about requirements for retaining, accessing, and transferring records.

Agree on the Handoff

Set out the transfer method, the person receiving each item, and the expected timing. Confirm whether records will be sent directly to the office, placed in a shared secure system, or provided to another adviser. Identify permissions or authorizations required before an adviser can release information or accept instructions from the office. Keep a log of requests, materials received, and items still outstanding.

Ask the adviser to identify work that should continue during the transition and when responsibility changes. For instance, clarify who monitors a deadline, prepares a report, or responds to a family request until the new process is operating. Do not assume a new office contact replaces a family member's authority unless that change has been explicitly agreed and documented.

Keep Communication Practical

Give advisers one named office contact and a clear channel for questions. Schedule a handoff meeting when several parties need to understand the same process. Send a written recap that assigns responsibilities, sets dates, and records open questions. As records arrive, check that they are readable, sufficient for their intended use, and linked to the correct family member or entity. Flag gaps promptly so the adviser can clarify what exists and what may need to be reconstructed.

After the transition, review the relationship and remaining work with the adviser. Confirm that both sides understand responsibilities, reporting expectations, and contact details. A documented handoff gives the family office a reliable starting point and helps prevent missed deadlines or duplicated requests.

For related guidance, see coordinating existing advisers, building a transition plan for records, operational processes for a new office, and organizing contracts and family records.

With our foundation already well established and in place, there wasn't a significant investment required on our part to expand into an MFO as we were already structured to provide the highest levels of service and professionalism to our numerous family members.

Sources: The Family Office Book, The Single Family Office. Informational only, not financial, legal or tax advice.