Coverage
Write down the regions and office types you need, and what you will accept as a family office. Some lists include wealth managers, holding companies or individual investors under the same label. Ask for counts as ranges and by type, so you can see the mix.
Fields
List the fields you will actually use. For each one, ask how it is defined and whether it is present on every record or only when available. A field that appears on a small share of records should be treated as a bonus.
Update expectations
Ask when each record was last reviewed and how a source date is recorded. Ask what happens when an office closes, merges or changes staff, and how you report a record that looks wrong.
Delivery format
Decide how your team will use the data: a spreadsheet, a CRM import, or reading online. Check column names, how multiple values are separated, and whether you can filter before export.
Support
Find out who answers questions after delivery, how corrections are handled, and whether you can change the scope later.
Budget
Set a budget band before you ask for prices. A band lets a vendor suggest a scope that fits, rather than the largest one available. If price depends on scope, as it does with us, compare what each quote covers as well as the total.
Worksheet
- Regions and office types required
- What counts as a family office for our purposes
- Fields we will use, and which we need on every record
- Oldest source date we will accept
- Delivery format and destination system
- Who supports us after delivery
- Budget band
Take the worksheet to every vendor conversation, along with the comparison questions.