Recently, Matthew Valencia with The Economist spoke to regarding the history, current landscape, and the future of the family office space. The resulting article is an in-depth, global look at private wealth, high-net-worth families, investment and service trends.
With regard to the scope and evolution of services, the article highlights Market Street Trust's focus on family relationships and next generation development and involvement:
"As well as managing financial assets, Market Street Trust Company—which serves, among others, the descendants of Amory Houghton, who founded America’s Corning glassworks—organises weekend family events designed to strengthen bonds between generations. Older members are encouraged to share inspiring stories, youngsters to air their fears about the challenges ahead."
To read this in-depth article in its entirety, please visit The Economist: https://www.economist.com/briefing/2018/12/15/family-offices-become-financial-titans