One of the reasons why family offices emerged was dissatisfaction among affluent clients with the consulting services of banks and financial service providers and their inherent conflict of interest. They too often pushed too hard their financial or investment products in situations where for their clients could be better some other product. It often resulted in a loss for the clients. 

Therefore, wealthy families started looking for alternative options for better, more effective management of their wealth. A good solution turned out to be setting out own family office. The family office is free from conflict of interest because promotes neither someone else’s nor its own interest, but only the interest of the family. The family offices are attractive because the professionals who run them are paid by the families themselves, so there is no incentive for them to push products and hence no conflict of interest.