What types of family office firms are there?

Family offices come in two general types: The Single Family Office which is established to meet the needs of a single family, and the Multi Family Office™ advisory firm serving more than one family. Historically, many Multi Family Office™ advisory firms have grown out of single family offices (SFOs) where the founder(s) of the SFO decided to extend the services of its professional team to other families to share the cost of maintaining the group. WaterStreet Family Wealth Counsel is a Multi Family Office™ advisory firm.