AIFO Advisory takes its roots from the area of activities of AIFO, the Italian Association of Family Officers. Since 2005, AIFO has given methodological rigor and precepts in Italy aimed at the evolution of family office practices. AIFO has superceded an approach centered only on financial assets in favor of a holistic approach to family wealth, developing and spreading a protection model based on intangible capitals.

AIFO Advisory is the first Italian consulting company solely focused on the Intangible Capitals linked to the Wealth and Family Business, a real engine of growth in value, stability and intergenerational continuity.

In today’s world, the activity of a Family Office is increasingly aimed at adopting precise methodologies that enhance intangible capitals. Human capital, along with other intangible values such as intellectual capital, reputational capital, social capital and strategic capital, are often a family’s most valuable assets. Given this importance, an intangible capitals valuation is critical to fully understand and protect family wealth and to identify opportunities to realize growth potential of Family Businesses. In legal issues and disputes on succession, a sound intangible capital valuation is necessary to make informed decisions.

The valuation of intangibles is strategic as an element of stability inside the Family and to reduce intergenerational conflicts, following a risk protection logic.

AIFO Advisory aims to support directly the Family and / or Family Officers through personalized consultancy projects, aimed at sustaining both the financial value and the intangible value of family assets in the long term, maintaining a stable and solid link between past, present and the future.

AIFO Advisory stands as a partner for families and professionals who work alongside them without overlapping areas, to allow those responsible for structural-legal decisions and for tax-financial optimizations to evaluate firstly human, reputational, social and intellectual capital of which the Family is the bearer and which constitute the true basis for stability and the creation of future value.

Regarding intangible capital, AIFO Advisory operates through five main practices with a strong focus on methodological rigor and the implementation of operational models.

Methods to establish Single or Multiple Family Office and to optimize already existing informal structures.

Governance and reporting

Selection of external best practices

Tools to monitor asset aggregation and to perform risk / performance analysis

Legal structure and organizational model

Strategic and annual economic plan

Valorization of the identity and external reputation of Family or Family Business, with the historical memory’s protection.

Developing the story of the Family and the Family Business

The Family’s Archive


Reputational Management tool

Foundations and Museums Revenue Modeling

Methods to increase development of human capital, plan continuity along the generations and mitigate conflicts and disputes.

Evaluation of
next generation talents

Family Constitution



Mapping of value convergences

Customized philanthropic services to design a philanthropic strategy based on transparency and social impact, aligned with the Family’s value.

Choosing the philanthropic focus

Due diligence and scouting

Reporting and Monitoring philanthropic activities

Philanthropic Legacy

Mapping vehicles and instruments

Access to co-investments in direct private equity, venture capital, club deals for a renewed participation in the real economy

Support for vehicle identification

Due Diligence

Info Memorandum

Fundraising and introduction

Projects scouting


Patrizia Misciattelli delle Ripe

Patrizia Misciattelli delle Ripe

Chairman | Family Office Practice

Founder of AIFO, the Italian Association of Family Officers, which she has chaired since 2006. The Association is devoted to increasing the awareness and building knowledge and tools to advise the Italian family office community on how protect and foster sustainable family wealth and values in the long term. Previously she held top executive roles in leading Italian and international financial Institutions: Board director and COO of Finanza & Futuro (1986-1996) from start up to exit, General manager with BNL Investimenti BNP Paribas (1996-1999) and General manager with J. Rothschild Assurance Italy. She also founded Nascent Sim, with Rothschild Assurance, where she covered the position of CEO (1999-2003). Based on her highly recognized competences and professionalism over the last 30 years, she has built the credibility that has enabled her to develop a strong network of consolidated relationships within the financial and banking sectors, both nationally and internationally which support AIFO’s mission. She holds a degree in Philosophy from the University of Bologna and is author of two books published with “Il Sole 24 Ore” and Franco Angeli. Currently, she carries out mentoring project to help the rising generation to succeed in wealth transition and is a speaker on events about “Family offices”.

Emanuele Sacerdote

Emanuele Sacerdote

CEO | Family Identity Practice

Member of the AIFO Executive Committee. He started his carrier in the advertising area working for Armando Testa, Young&Rubicam and McCann Erickson and then moved to corporates. He covered many positions in prestigious companies: Levi Strauss, Autogrill, Zegna Group, Ferrari Auto, Moleskine e Barbisio.  Since 2010 he is Lecturing Professor at Università Cattolica del Sacro Cuore in Executive Master in Luxury Goods. In 2012 he joined his family company, Strega Alberti, where he is currently a Member of the board. He is member at NED Community (Non-Executive Director Associatio- 2015) and member at Museimpresa (Corporate Museum Itlaian Association – 2016). Since 2016 he is Visiting professor at Fondazione ISTUD, Stresa. Emanuele  is the author of many books published by Franco Angeli.   He graduated in Political Science and got a Masters degree in conservation, management and enhancement of industrial heritage.

Emanuele Giangreco Biancheri

Emanuele Giangreco Biancheri

Family Legacy Practice

He is an engineer, with twenty years  experience as a consultant and trainer in management of SMEs, first in Arthur D. Little and then as founding partner at Dies Consulting (Arthur D. Little Change Management Practice) for multinational clients. He also founded Corporate Family Advisory, dedicated to advise family businesses on project / process management and governance  restructuring. In AIFO, Emanuele is responsible for the “Family Legacy Project”. This is a personalized counseling programme, with a proprietary model, designed to use family values to trace a family constitution that will ensure a smooth generational transition and become the pillar on which to base the family’s vision and mission, across generations, thus sustaining family wealth.

Michela Guicciardi

Michela Guicciardi

Family Philanthropy Practice

She joined AIFO in 2015. As head of marketing, Manuela works on the implementation of strategic plans of communication and event management. She began her career managing online campaigns of keyword positioning and SEO, as intern at UNDP. She then worked as a research assistant at Bocconi University and joined the editorial team of “”, an online journal of economics, where she specializes in CRM and fundraising campaigns. After having founded a blog on econometrics, she graduated in Economics and Social sciences at Bocconi University. She has completed a Master course organized by STEP on Wealth Planning, in order to become TEP.

Federico Comis da Ronco

Federico Comis da Ronco

Family Co-investments Practice

After an experience in the family business, he  started his career at Accenture Consulting in the capital market practice, following a project as a consultant for the Intesa Sanpaolo Group (Banca IMI). From 2016 he carries out a project of innovative tourism development for the area of the Dolomites. Federico joined AIFO in 2016 as head of membership relations. He then started to focus on the evaluation of new membership and on the development of target projects. He obtained a bachelor’s degree in Economics of Businesses and Markets and a Master degree in Management for the Enterprise at Università Cattolica del Sacro Cuore.