is a family office the same as a wealth advisory firm 
not really wealth advisory firms can offer some of the services that a family office offers such as portfolio management and investment management however wealth advisory firms typically have many different clients while a family office focuses on one or several if it s a multi family office what s more family offices offer a much larger range of services to address the complete list of wealth related needs an ultra high net worth family has the bottom linea family office is established by ultra high net worth individuals for a variety of reasons first and foremost a family office needs to manage and grow wealth it also has to provide a wide variety of other services that can help a family manage the complexities and demands associated with that wealth while a family office may be appropriate for some extremely wealthy individuals and families most highly affluent people should be well served by the professionals at a wealth advisory firm 