The âofficeâ in a family office is not necessarily a physical structure. Rather, it is a shared and agreed-upon approach to managing the familyâs wealth.
Family offices take many forms. They can be fully staffed, stand-alone operations. They can be entirely virtual, outsourced organizations under the direction of the family. Or they can be something in between. As the saying goes, âIf youâve seen one family office, youâve seen one family office.â In other words, a family office is unique to the family it serves.