United Kingdom Family Office Market Report and Forecast 2024-2032

United Kingdom Family Office Market Size

The United Kingdom family office market reached approximately USD 5.17 billion in 2023. The market is projected to grow at a CAGR of 6.7% between 2024 and 2032, reaching a value of around USD 9.26 billion by 2032.

United Kingdom Family Office Market Outlook

• Nearly half of European family offices surveyed were engaged in sustainable investing and dedicated an average of 29% of their portfolio to sustainability initiatives, as per The European Family Office Report 2021.

• According to The European Family Office Report 2022, the average family wealth in Europe was USD 1.9 billion, with AUM of USD $1.4 billion. 

• The 2023 European Family Office Report revealed that close to half of family offices in Europe were looking to diversify their investment portfolios. 27% focused on direct private equity investments, while 21% chose co-investments as a strategic approach.

United Kingdom Family Office Market Growth

According to Credit Suisse's report for 2021, approximately 685,500 individuals in the UK, who are in the top 1% bracket, collectively held a total wealth of $3.4 trillion (£2.8 trillion). Moreover, around 48 million Britons, representing 70% of the population, had a combined wealth of $2.9 trillion (£2.4 billion). With the increasing complexity of financial needs among affluent families, there is a rising demand for comprehensive wealth management services. Family offices offer personalised financial planning, investment management, tax planning, and estate planning solutions.

The customised nature of family office services, tailoring solutions to the distinct requirements and objectives of each family, distinguishes them from conventional wealth management services. This individualised method plays a crucial role for families in search of tailor-made financial services. Moreover, the demand for family offices has increased due to the rising wealth of high-net-worth individuals and ultra-high-net-worth individuals. This wealth growth is attributed to successful entrepreneurial ventures, inheritance, and capital gains.

United Kingdom Family Office Industry Segmentation

“United Kingdom Family Office Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Single Family Office

• Multi-Family Office

• Virtual Family Office

Market Breakup by Asset Class of Investment

• Bonds

• Equities

• Alternative Investments

• Commodities

• Cash Or Cash Equivalents

Market Breakup by Region

• England

• Wales

• Scotland

• Northern Ireland

United Kingdom Family Office Market Share

Based on type, the market is segmented into single family office, multi-family office, and virtual family offices. Virtual family offices are projected to grow at a CAGR of 7.5% during the forecast period of 2024-2032.A virtual family office offers a technology-based platform that delivers a wide range of financial, investment, and administrative services to affluent families and individuals, eliminating the necessity for a traditional office setting.

Leading Companies in the United Kingdom Family Office Market

The market players are focusing on digital transformation and diversification of investment portfolios to gain a competitive edge in the market.

• Bank Julius Baer & Co. Ltd. 

• Wren Investment Office Limited 

• Conrad Family Office 

• Macfarlanes LLP 

• Benefact Group (Lycetts Holdings Limited)  

• Quilter Financial Planning Solutions Ltd. 

• Mercer LLC 

• Savills PLC 

• Spielmann Capital 

• Amram Capital (UK) LLP 

• Others

Key Highlights of the Report