One of the most enduring family office myths is that no two offices are alike. The industry’s most common phrase, ‘once you’ve seen one family office, you’ve seen one family office’, speaks to their distinct nature. Yet the inaugural UBS and Campden Wealth Global Family Office Report 2014 has cast doubt on this conventionally held wisdom, finding that family offices have more in common than originally thought. This research snapshot is designed to give an overview of the report’s key points for offices from the regions of North America, Europe, Asia-Pacific, and developing economies (DEVEC). It will also overturn a few myths along the way.

Based on surveys of 205 principals, beneficiaries, and executives, the Global Family Office Report 2014 is the largest family office study ever committed to paper. The sample size ranges across 40 different countries and includes offices that manage more than $180 billion (€144 billion) in global assets in total.

Philip Higson, vice chairman at UBS’s global family office group, says that the large number of respondents is one reason why the global study has debunked so many long-held family office myths.

“Before the study I had the perception that family offices were relatively similar, but I’ve been absolutely amazed at how similar they are.”