Originally the first family offices that were formed were created by the very same families that felt the need of having them, and made them precisely to satisfy their needs. They were, accordingly, offices dedicated to one single family and with a very particular structure in each case.

In some cases it was a family member that was in charge and in others it was an external professional. In certain situations the family office was created with a very light structure and in others they included a few professionals of different disciplines (legal, financial, tax, accounting, etc.). In some circumstances they had a clear legal focus and at times they were made mainly with a financial scope in mind. On some occasions, their founders were a family with a strong industrial activity, and on others a family with a clear financial focus. Sometimes, they acted on behalf of the family, which delegated all decision-making to them, and sometimes they had just a pure advisory role. All these differences can also be found today, although due to the complexity of today’s world and today’s economy, any family office that pretends to do a good job must be integrated by a capable group of top quality professionals in several disciplines. This is the case for a few well known family offices in Spain and abroad. It is vitally important in any case that they are completely objective in their recommendations and management including a specific approach tailor-made for the needs of the founding family.