How long have family offices been around?

How long have family offices been around?

by Richard C. Wilson & Family Offices Group Association Team

Question: How long have family offices been around?

Answer: Single family offices have existed in different forms for 1,000′s of years, but it wasn’t until the late 1800′s or early 1900′s that multi-family offices were started. These operations grew out of single family offices which were asked to serve connected business families and out of private banks and early trust company establishments who were looking to serve more affluent clientele.  Family offices often use their long histories and traditions to differentiate themselves from private banks or other financial advisors.

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