Reports
Reports
Sale
The global family offices market size was approximately USD 93.72 billion in 2023. The market is estimated to grow at a CAGR of 7.4% during the forecast period of 2024-2032 to reach a value of USD 178.42 billion by 2032.
Reportedly, there are about 10,500 family offices on a global scale. Geographical dispersal, including global investments and family members settling away from their family’s home base for work or education, is creating a need for well-established and fabricated wealth management services. The family office, thus, deals with the administration and effective day-to-day management of a family’s cross-border wealth.
The complexity of tax legislation owing to the geographical dispersal of wealth is another factor that is leading to a growing demand for family offices.
In 2022, family offices contributed to around one-third of the total capital invested in startups.
Figure: Investments In Family Office Startups (2018-2021)
Increasing wealth of private entities; growing inclination towards connected environments; rising number of ultra-HNWIs; and rising adoption of artificial intelligence are the major factors impacting the family offices market growth
Mar 1, 2023
Stonehage Fleming announced the acquisition of South Africa-based investment firm Rootstock Investment Management. The latter is rebranded as Stonehage Fleming SCI Worldwide Flexible Fund, with effect from 1 March 2023.
Feb 3, 2022
Stonehage Fleming announced the completion of its acquisition of Maitland’s Private Client Services business. Maitland is a global advisory, administration, and family office firm. The transaction added around GBP 1 billion of AUM and GBP 15 billion of AUA, taking Stonehage Fleming’s total AUM to over GBP 16 billion and AUA to over GBP 60 billion.
Jan 17, 2023
MSD Partners, L.P. entered into a definitive business combination agreement with BDT & Company Holdings, L.P., a merchant bank, to create a differentiated advisory and investment firm aimed at serving the varied needs of family- and founder-led business owners and long-term investors.
Rising private wealth
There is an increase in private wealth driven largely by the riches made in the growing tech market. Modern entrepreneurs are turning towards multi-family offices to manage their complex investments spread globally owing to their innovative and global mindset.
Players working towards developing a connected investment environment
Companies are inclined towards developing a connected investment market by supporting, growing, and aligning their network of clients and contributors. They are focusing on their strengths, utilising technology to position themselves as market differentiators, reducing operational complexities, and enhancing their efficiencies so that clients are comfortable, further mobilising employees to increase their efficiency.
Growing ultra-HNWIs
The rising number of ultra-high-net-worth individuals is driving the popularity of family offices for wealth management over traditional wealth management firms.
Adoption of artificial intelligence
AI can help family offices forecast events by recognising patterns quickly. Additionally, AI, robo-advisers, and digital reporting systems are anticipated to enable them to help their clients manage their wealth more closely, leading to the family offices market development.
Virtual family offices (VFO) are adopted by families spread across geographies and require fewer complex services. The advanced technologies being adopted by companies in the family offices market are leading to more secure processes, with VFOs representing a cost-effective method to receive remote on-demand services.
Multi-family offices globally are investing in mergers and acquisitions, focused on inorganic and disruptive growth. Such strategies are expected to help them increase their scalability within a short period while ensuring maximum productivity.
Family offices in Europe, North America, and the Asia Pacific, are potentially increasing their investments in cryptocurrency and businesses that target sustainability. A significant number of family offices in Europe have a toehold in cryptocurrency as they expect it to become a mainstream asset class and see it as a promising investment. The trend of investing in sustainability is boosted by the need to protect the environment and support the development of eco-conscious businesses. Family offices are targeting their investments at businesses working towards reducing climate change.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
“Global Family Offices Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Asset Class
Market Breakup by Region
Based on asset class, alternative investments dominate the global family offices market share
Family offices and ultra-rich families have been seeking investments in various assets, including blockchain, structured credit, and forestry, among others, aligning their investment processes with a new generation of wealth.
The influx of value-driven and young wealth holders and evolving sources of wealth are likely to boost the focus on new asset classes and impact-focused investment.
Based on type, single family office accounts for a significant share of the family offices market
For ultra-affluent families, single-family offices (SFO) have gained popularity owing to the control, autonomy, and personalised attention it offers to these families.
Meanwhile, multi-family offices (MFO) are favoured by modern wealth owners owing to the increased level of specialisation offered by them. MFOs provide their clients with customised services and knowledge and have distinguished themselves as trusted advisors for wealthy investors.
With a growing number of families interested in outsourcing only the investment oversight of its capital, the adoption of virtual family offices (VFO) is anticipated to increase, where advisors can be accessed online as and when needed. The benefits of adopting VFOs, such as affordability and flexibility and the availability of several professional advisors that work together to manage the family's financial matters, are enhancing their popularity.
With the growing need for transparency and the demand for real time data to enhance decision making, family offices are embracing technology to facilitate more proactive management.
Cascade Investment Group, Inc.
Headquartered in the US, Cascade Investment Group is a registered investment adviser company focused on offering services free from conflicts of interest brought about by large corporate ownership.
MSD Partners, L.P.
Founded in 2009, MSD Partners, L.P. is a leading investment firm focused on maximising long-term capital appreciation across its core areas of investing expertise which include credit, growth, private capital, and real estate.
Stonehage Fleming Family and Partners Limited
With headquarters in the UK, the company offers services including long-term planning to routine transactions and administration.
The Glenmede Trust Company, N.A.
Glenmede, headquartered in the United States, offers its services to clients globally including institutions, consultants, and advisors with a contemporary approach to institutional investing that provides long-term value for clients.
Bessemer Group, Incorporated
Bessemer, headquartered in the United States, is a privately owned company engaged in providing investment management, wealth planning, and family office services.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
With the growing wealth in the Asia Pacific and rising numbers of billionaires, especially in China, families have started to focus on institutionalising family wealth management and in-sourcing fund management operations through family office solutions.
Family offices are becoming popular in Europe, particularly in wealthy areas such as Monaco, Switzerland, and London. As more wealthy families and ultra-high-net-worth individuals resort to the family office solution, the market is expected to further grow in the region.
Meanwhile, with an increase in wealth generation in North America, family offices have been diversifying their investments in various areas like healthcare tech, metaverse, NFTs, and Web 3.0, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Type |
|
Breakup by Asset Class |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Family Offices Market Analysis
8.1 Key Industry Highlights
8.2 Global Family Offices Historical Market (2018-2023)
8.3 Global Family Offices Market Forecast (2024-2032)
8.4 Global Family Offices Market by Type
8.4.1 Single Family Office
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Multi-Family Office
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Virtual Family Office
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Family Offices Market by Asset Class
8.5.1 Alternative Investments
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Equities
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Bonds
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Cash or Cash Equivalents
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Commodities
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.6 Global Family Offices Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Family Offices Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Family Offices Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Family Offices Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Family Offices Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Family Offices Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Qatar
13.5.2 Historical Trend (2018-2023)
13.5.3 Forecast Trend (2024-2032)
13.6 Turkey
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Israel
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Total Cost of Operating Family Office
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Cascade Investment Group, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 MSD Partners, L.P.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Stonehage Fleming Family and Partners Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 The Glenmede Trust Company, N.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Bessemer Group, Incorporated
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Family Offices Market: Key Industry Highlights, 2018 and 2032
2. Global Family Offices Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Family Offices Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Family Offices Historical Market: Breakup by Asset Class (USD Billion), 2018-2023
5. Global Family Offices Market Forecast: Breakup by Asset Class (USD Billion), 2024-2032
6. Global Family Offices Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Family Offices Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Global Family Offices Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Global Family Offices Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Global Family Offices Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Global Family Offices Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Global Family Offices Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Global Family Offices Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Global Family Offices Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Global Family Offices Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Global Family Offices Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Global Family Offices Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Family Offices Market Structure
The market attained a value of about USD 93.72 billion in 2023.
The market is estimated to grow at a CAGR of 7.4% during the forecast period of 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 178.42 billion by 2032.
The key types are single family office, multi-family offices, and virtual-family office.
The key regional markets for family offices are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The asset classes include alternative investments, equities, bonds, cash or cash equivalents, and commodities.
The driving factors include increase in private wealth, rising adoption of technologies such as artificial intelligence for financial management, and growing need for personalized financial services.
The key players in the market include Cascade Investment Group, Inc., MSD Partners, L.P., Stonehage Fleming Family and Partners Limited, The Glenmede Trust Company, N.A., and Bessemer Group, Incorporated, among others.
Mini Report
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.