The Mack Podcast Understanding the Role of the Family Office Controller
Nov 4, 2025
In this discussion, Amy Beahm, a wealth planning professional with expertise in family offices, sheds light on the essential role of controllers. She distinguishes between single and multi-family offices, revealing the unique challenges of financial reporting and tech implementation. Amy emphasizes the necessity for transparency and tailored reporting to meet diverse family preferences. The conversation also touches on the evolving responsibilities of controllers, including tax coordination and investment administration, highlighting the growing skills needed in this dynamic field.
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Controller Role Is Highly Variable
- Controller titles vary widely across family offices and often combine accounting and finance duties.
- Small SFOs frequently have a one-person accounting function handling broad responsibilities.
Learning By Joining An MFO
- Amy moved from small SFOs to an MFO and gained direct exposure to investment and estate planning teams.
- That access accelerated her learning compared with relying on outside consultants.
MFOs Versus SFOs: Reporting Priorities
- MFOs prioritize investment reporting while SFOs often prioritize the general ledger and tax reporting.
- That split drives different system choices and implementation paths between MFOs and SFOs.