With R$20 billion in assets, Faros becomes a wealth management firm, intensifying the competition among family offices.

Faros Multi Family Office is the newest asset management firm in the Brazilian market. With authorization from the Brazilian Securities and Exchange Commission ( CVM ), the brand, belonging to the Fami Capital group, is now qualified to serve other client profiles, in addition to gaining an advantage in consolidating the fragmented investment consulting market, which manages over R$ 540 billion.

The new structure of Faros MFO is already starting with great potential. With R$ 20 billion under consulting and management, the firm positions itself as one of the largest family offices in Brazil and is ready to compete for bank clients and rival traditional asset management firms in the market, such as G5 Partners, TAG Investimentos, and Turim MFO, as well as rapidly growing players like Portofino Multi Family Office , WHG, and Galapagos Capital .

Previously, Faros operated as an investment consultancy, but now it also offers discretionary asset management, no longer requiring client approval to execute portfolio allocation decisions, the model most commonly used by large family offices in the country.

This allows management to become more agile, as well as offering exclusive fund structures and access to more complex operations. Another point is that many banks still do not work with consultancies, generating significant friction for management on their platforms.

“Over time, we built a relationship with the families, one of great credibility and trust, and they wanted this type of service. It was a natural progression,” says Felipe Bichara, CEO of Wealth at Fami Capital, which includes Faros, Persevera, and Hollander, to NeoFeed . “With this, we gained in service complementarity and operational efficiency.”

Clients with this profile are already being offered the discretionary model. And the expectation is that it will further accelerate growth outside of Fami Capital's portfolio, which has over R$75 billion under management. But the consulting model remains for those who prefer to closely monitor their investments.

Faros, still operating as an investment advisory firm, was the first to have a family office, in 2018. After merging with Messem and creating Fami Capital , the unit underwent a rebranding in 2024, reverted to its former name, and became Faros Multi Family Office .

Initially, clients were acquired from within the consultancy's own ecosystem, which remains an important source of growth, but is no longer the only one. Today, Faros serves approximately 130 families with a minimum ticket of R$ 25 million, handling a volume of R$ 20 billion in consulting and management, including onshore and offshore management, representing growth of about 15% in the last year.

Inorganic growth was crucial to this result. At the end of last year, Faros incorporated two investment consultancies: Ivest and Denarius, bringing not only partners to the company but also approximately R$ 1 billion under consultancy. Other discussions are ongoing.

“We have been sought after by other consulting firms because we have a robust ecosystem of services. And now even more so with the asset management firm. They understand that it is better to be a partner in a large company than to own a small one that may not be competitive,” says Bichara.

By becoming a partner of Faros MFO, you join the Fami Capital Group, gaining access to the ecosystem of foreign exchange, investment banking, asset management, insurance, among others - and a physical presence in 15 cities.

Juliana Sanfins, Director of Operations and Business, and Felipe Bichara, CEO of Faros Multi Family Office

The backdrop is a rapidly expanding wealth market, with increased competition for large fortunes and banks reacting to avoid losing ground to independent firms. As a result, small consultancies that previously operated as boutique family offices are realizing they need to be part of a more robust ecosystem to survive.

“There are many opportunities for consolidation. But we are cautious, seeing what truly fits with our operation. Even so, it is an important avenue for growth,” says Bichara.

For sailing on the open sea

The size and strength of Faros' operations have also attracted private banking clients from large banks, who are looking for a family office.

“The very wealthy always have two or three banks and have already understood that they need someone from the outside to take care of this, in an unbiased way, with a growing understanding of the concept of a family office,” says Juliana Sanfins, director of operations and business at Faros.

As a further step towards strengthening its ecosystem and services to gain prominence in the market, Faros internalized its wealth planning service at the end of last year, bringing in lawyer Mariana Pavani to lead the area.

Another area of focus is technology. The company invested throughout last year to develop its own consolidation system, thus automating manual processes and improving speed and accuracy, reducing human reliance on processes.

"Technology is helping us to be faster and more assertive, so that we can manage a larger volume of clients with the same quality," says Bichara.

One vertical that already existed, but is gaining increasing relevance, is the offshore arm, with operations in Miami, present since 2022 when the RIA (Registered Investment Advisor) Hollander was acquired.

“Families now see offshore as a structural issue, not just a tactical operation; they no longer wait for the best exchange rate. They want to have a diversified operation abroad with floating platforms, like large American banks,” says Sanfins.