The rise of the Family Office
The new reality is that societies are now reaching out to become knowledge-driven. What was kept away and treated as the privy of the few is now available to more.
There are more professionals trained willing to be at the service of clients and not just line their pockets. The private citizens and families have now realised that they need to take ownership of their wealth and not leave it on a discretionary basis to Bankers and Investment managers. Looking after their Wealth may even involve periods of NOT investing which hardly any Banker or Investment Manager will ever recommend.
New Family Offices have been opening continuously over the years silently but most not necessarily using the name. So the need to exert more control over their wealth future will lead to more private citizens and families opening their wealth entity and whether they call it "Family Office" is only a detail. It is about taking ownership and not leaving it for the system to control!
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