PT  - JOURNAL ARTICLE
AU  - Denise Kenyon-Rouvinez
AU  - Jung Eung Park
TI  - Family Office Research Review
AID  - 10.3905/jwm.2019.1.093
DP  - 2019 Dec 14
TA  - The Journal of Wealth Management
PG  - jwm.2019.1.093
4099  - https://pm-research.com/content/early/2019/12/14/jwm.2019.1.093.short
4100  - https://pm-research.com/content/early/2019/12/14/jwm.2019.1.093.full
AB  - The family office is one of the fastest-growing structures designed to help individuals and families manage their wealth. Whether a single-family office (SFO) serving one family or a multi-family office (MFO) serving several families, the family office serves as an alternative to private banks, registered investment managers, or any other specialized wealth management and investment platforms. A number of academic papers and survey-based white papers have been published in recent years aiming to establish the status of family offices as well as examine trends in their development and use. This study found a considerable degree of overlap in the topics covered but also noted some inconsistencies in the results between the different papers. In this article, based on an in-depth review of recent publications, the authors seek to offer a balanced perspective and insightful synthesis of this research.TOPIC: Wealth managementKey Findings• This is in-depth review and analysis of books, articles and reports on family offices.• A family office differentiates itself from other types of investment or service firms by the level of their holistic approach and the personal attention given to families.• There is a need to define a proper governance structure that takes into account the requirements of all family members as well as educating the next generation.• A family office adjusts its structure to meet the evolving complexity of demands and challenges including multi-juridical needs, low interest rate, and digital advancement.