Italian family offices form a small yet dynamic galaxy — highly diverse in size, expertise, legal structure, and service models.
“We are an investment firm — a true company, supervised by the financial authorities. And we are independent,” states Ilaria Mori, founding partner and Chief Investment Officer of Scouting SIM Family Advisors, the family office division of Scouting Capital & Family Advisors, which recently underwent a rebranding.
The Choice of a SIM Structure
Choosing the SIM (investment firm) structure is not a trivial decision, given the heavy regulatory requirements involved. “The regulatory burden is almost comparable to that of a bank. But for us, adopting this legal form was a strategic choice that shaped the mindset of our people and guides our processes and activities,” explains Carlo Manzato, former Credit Suisse and UniCredit executive, now Managing Director of Scouting SIM Family Advisors.
“The SIM structure offers the highest level of protection for clients. It’s no coincidence that some entrepreneurial families, during due diligence, tend to exclude firms not directly supervised by Consob or the Bank of Italy,” adds Mori.
The heart of Scouting SIM Family Advisors’ work lies in finance, with a strong focus on private markets. “Some of the families who have been with us for many years now have exposure to private markets exceeding one-third of their total wealth. These are activities that require particular care and a well-structured investment path, designed hand in hand with the family,” notes the CIO.
“We like to think of ourselves as architects of entrepreneurial family wealth. Just like architects, we must be fluent in two distinct languages — the technical one we use with other professionals, and the more accessible one we use with families to clearly explain which solutions best meet their needs,” says Manzato.
Where Scouting SIM Operates
Today, the firm serves more than 20 family groups, each with minimum financial assets of €50 million, totaling nearly €2 billion in supervised assets, according to the company.
Founded in 2001, the holding now counts six partners — Ilaria Mori, Rinaldo Sassi (CEO), Filippo Bratta, Davide Milano, Marco Musiani, and Giuseppe Mario Sartorio — and more than 50 professionals, many of whom come from prestigious national and international investment banks. Scouting operates in Milan, Parma, Bologna, and Turin.
“We’re also exploring other promising areas, starting with Veneto. We firmly believe that being close to our entrepreneurs is a distinctive strength of our approach: be local, think global. Being present on the ground, in touch with families, while at the same time offering access to global investment and growth opportunities.”
Scouting SIM’s Three Core Areas
Through its various companies, the group operates in three main areas:
- Family Office services, through Scouting SIM Family Advisors;
- Corporate Finance, through Scouting Capital Advisors, focusing on national and cross-border M&A transactions;
- Club Deals, via Scouting Club Investments, a new equity investment platform developed with the arrival of Managing Director Chiara Venezia.
The company structures exclusive club deals, offering major entrepreneurial families bespoke alternative investment funds targeting specific types of companies.
“A distinctive feature of our model is that we co-invest in every single deal, ensuring complete alignment of interests with our client families,” explains one of the group’s partners.
“The three divisions operate in full synergy. Having three specialized verticals under one roof fosters an interdisciplinary culture within the firm and facilitates the transfer of high-level expertise to younger professionals who will continue to support families through generational transitions,” adds Manzato.
The Family Office Approach
Each family is supported by a dedicated team of at least four professionals who coordinate with the client’s other trusted advisors. “If any expertise is missing, we can connect the family with top-tier professionals, as we’re able to map the entire market,” explains Manzato.
Here again, the architectural metaphor applies: “What matters most is the ability to manage and coordinate a team — banks, lawyers, accountants, notaries, trustees — all working together to address business and family governance, succession planning, and conflict resolution within the family,” he adds.
Then there’s technology: “There’s only one Warren Buffett,” jokes Mori. “Everyone else must rely on solid analysis and data-driven decisions. Achieving that requires sophisticated tools.”
The Partnership with Landytech
For this reason, Scouting SIM Family Advisors has entered into a strategic partnership with Landytech, an international provider of advanced aggregation and analytics solutions and the developer of Sesame, a data management, analysis, and investment reporting platform.
“We created this alliance to help develop an international community of family offices active around the world — a platform that allows us to share resources, deal flow, and investment opportunities, but above all, experiences and best practices. Compared to a few years ago, families are much more open to communicating, sharing, and networking,” emphasises Mori.
The Future of the Industry
Interpreting the family office in this way naturally requires major investments — particularly in talent and technology. “You need strong shoulders: below the one-billion threshold in assets, there’s little room to manoeuvre. We’re heading toward a rationalisation of the industry — a consolidation phase. In essence, this means many players will have to evolve or merge,” concludes Mori.
