The modern notion of a family office charged with the
stewardship of a single family's wealth for current and future
generations emerged in the 19th century. The idea of the
single-family office gained attention in Europe through families
like the Medicis and Rothschilds and then spread to the US in the
19th century, through families like JP Morgan's House of Morgan
and shortly thereafter the Rockefellers. The dynasties in Asia also
have examples of similar embedded stewards or services providers.
Today, families with family offices have proliferated, which may be
related to the growth and concentration of privately held
wealth.
Family offices take many forms, but in a very general context
they typically fall into one of three general categories:
