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 preserve and grow the family's wealth across generations. 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 and legal experts, to address the unique needs of wealthy families. This structure allows families to manage their financial affairs more effectively and strategically.