Family offices in Russia appeared along with the first money, although only few people called them this way.
Generally, a multi-family office serves several families. The structure of each office is different and strongly depends on the team’s expertise, but, usually, they provide legal and investment services: this combination allows the family office to take full responsibility for preserving and growing wealth.
It is generally considered that family office services are relevant for people with a capital of $10 million. But in some cases, «the entrance ticket» can be cheaper if all liquid capital is transferred to management.
The first Russian multi-family offices appeared in the 2000s. These were independent players who served the interests of several wealthy families. Basically, the market was divided between the Swiss family offices.