A family office is a private wealth management advisory firm that serves high-net-worth families. It provides a range of services, including investment management, estate planning, tax services, and philanthropy. The goal is to centralize and manage the family's financial affairs, ensuring long-term wealth preservation and growth. Family offices can be single-family offices, serving one family, or multi-family offices, which cater to multiple families. They often employ a team of professionals, such as financial advisors, accountants, and legal experts, to address the unique needs of wealthy families and help them achieve their financial goals.