One new entrant to the family office industry, LinePoint Partners, aims to help advisors leaving wirehouses and private banks build up an array of services needed to work with wealthy clients. Andrew Sternlight, LinePoint’s president and chief investment officer, said what sets family offices apart from other wealth managers is the priority family offices place on preserving wealth for future generations, charitable causes or other recipients. “That’s where we think, by extending that sort of family office infrastructure to advisors or to one or two executives of a family office without building out their teams entirely,” Sternlight said. “That’s where we can provide a bit of a solution that has the benefits with that multigenerational lens, but not the cost of designing from scratch in-house.” Andrew Lom, U.S. head of financial services and global head of private wealth at the law firm Norton Rose Fulbright, agreed that the true differentiator for family offices is the emphasis they place on making sure clients can bequeath their wealth exactly how they want. Ron LaVelle, a principal in the private wealth practice of the accounting and consulting firm Baker Tilly, said clients have the ultimate say on what their family office does. With the list of possible service offerings always growing, and the number of multifamily offices serving several wealthy families also rising, it’s becoming ever more rare for firms to be able to do it all. In fact, LaVelle said, he tends to be wary of firms that claim to be everything for everyone.