Given the definitional problems associated with multi-family offices (MFOs), making judgements on the relative merits of members of this genus is probably a step too far.

The reality is that most self-styled MFOs are not directly comparable in terms of the range and quality of services they provide and the manner in which these are delivered.

Nonetheless if forced to make an opinion the merits of New York-based Bessemer Trust would almost certainly feature in any ensuing conversation for a variety of reasons.

Established in 1907 by Henry Phipps to oversee the management of his fortune acquired from the sale of...