Multi-family offices and wealth advisors are registering solid revenue growth, according to a new report from Chicago-based Family Office Exchange. But they also face “operational challenges” going forward.

At the median multi-family office, revenues grew by 13% from 2010 to 2011 and by 6% in 2012, according to FOX’s MFO and Wealth Advisor Benchmarking Study, released Wednesday. "Firms are experiencing really good growth, which we expect will continue,” said David Lincoln, managing director of research for FOX.

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