What is the history of the family office?

What is the history of the family office?

by Richard C. Wilson & Family Offices Group Association Team

Question: What is the history of the family office?

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.  A helpful free resource I came across that includes a more detailed history of the family office can be found here.

Still today, the family office industry is relatively obscure and poorly understood. While everyone in the financial industry roughly knows what a hedge fund is or at least knows that they exist, many finance professionals don’t really know what a family office is or what they do. When it comes to the general public, knowledge of family office operations is close to non-existent despite its rich tradition of managing and increasing the wealth of families and individuals.

Download our free Family Office Report to learn more about the family office industry.

Read more Frequently Asked Family Office Questions.

Leave Your Response

* Name, Email, Comment are Required

We run the Family Offices Group, the #1 largest family office association with 84,000+ global members. We offer live events, a bestselling book, Webinars, a family office database, and a family office training & certificate program called the Qualified Family Office Professional (QFOP). To get to know us please watch this 2 minute video, and contact us any time during pacific business hours by calling (212) 729-5067 or emailing us at Clients@FamilyOfficesGroup.com.

Free Family Office Report (PDF)

Contact Details for 1,000 Family Offices in Excel