Family offices may operate behind the scenes, but they have become one of the most influential forces in global finance. Today, these private organizations manage more than $3 trillion in assets worldwide, according to Bank of America's latest family office study. And with a massive $124 trillion wealth transfer expected in the U.S. alone by 2048, their role is set to expand even further.
Below is a closer look at how these offices work, who runs them, and why the next decade could redefine wealth management for generations.
