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      "text": "Despite there being no standard definition of a family office, anecdotal evidence suggests that a full-service family office will cost a minimum of US$1m annually to run, and in many cases it will be much more.",
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      "text": "Family offices are unique to the family that sets them up. As such, to define what an \"average family office\" should look like is not meaningful. Their size may vary from 1 employee to up to 50 or more, depending on the services provided, the number of family members to be served, and how the services are to be delivered.",
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      "text": "Despite there being no standard definition of a family office, anecdotal evidence suggests that a full-service family office will cost a minimum of US$1m annually to run, and in many cases it will be much more. This would suggest that for a family office to be viable, a family should be worth between US$100m and US$500m. Of course, a family office can be set up with US$100m or even less, but the service range will probably be limited to administration, control of assets, consolidation and risk management. A fully integrated family office will require a great deal more wealth. Table 4.1 breaks this down in more detail.",
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      "kind": "source-note",
      "text": "Source: Cap Gemini: The Global State of Family Offices 2012.",
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      "text": "1. Family Office Primer, Family Office Exchange, 2009.",
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      "text": "Figure 4.1. Family office types based on assets and costs",
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      "text": "The costs of running a family office",
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