In some sense, family offices have always been around. They were present back in medieval times in England1 and hundreds of years ago during major dynasties in China—it was just the entrepreneurial industrial “barons” in the United States who publicized and marketed the category named “family office.” The Rockefellers, J.P. Morgans, Phipps and Pitcairns, to name a few, were openly proud of their family offices, and thus an industry was born.
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