The number of advisor firms claiming to be multifamily offices or providers of family office services is growing. Moreover, all indications are that the desire among advisors to be providers of family office services is going to intensify.

In a survey of 611 financial advisors whose primary offering was investment management and had five or more years continuous experience, 27.7 percent of them are offering some combination of family office services. More telling is that 59.6 percent of the respondents said they’ll be providing some family office services within two years.

Topping the list of family office services financial advisors anticipate offering within two years is advanced planning (70.9%). 

This is followed by an array of other services on advisors' lists:

Financing 40.9 percent

Concierge healthcare 33.5 percent

Project management 17.6 percent

Administrative services 3.3 percent

N = 364 financial advisors

Clearly, for most of these financial advisors to provide family office services, they’ll need to team up with other professionals. For example, financial advisors are not directly going to deliver concierge medical services. However, they can facilitate the process between the wealthy and appropriate providers.