Family offices provide a wide range of services that include investment management, estate planning, tax planning, philanthropy, and financial advice to preserve and grow their clients' wealth. They are tailored to meet the specific needs of wealthy families, often taking an integrated approach to managing their financial resources and affairs. Family offices can be single-family, serving one family, or multi-family, serving several families simultaneously. They gained prominence in the late 20th century as affluent families sought more control over their wealth than traditional financial advisors could provide.