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What is the Predicted Annual Growth Rate of the Family Offices Market Over the Coming Decade?

The size of the family offices market has seen considerable expansion in the previous years. It is projected to surge from $19.29 billion in 2024 to $20.39 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The expansion during the historical era can be linked to trends in wealth accumulation, needs for asset diversification, succession planning, the globalization of riches, and tax optimization strategies.

The market size of family offices is predicted to experience robust expansion in the forthcoming years, with a projected value of “$25.46 billion in 2029 and a compound annual growth rate (CAGR) of 5.7%. The surge during the forecasted period is mainly due to the increase in ultra-high net worth individuals (UHNWI), emerging impact investing trends, the digital makeover in finance, and generational transitions in wealth management. The key emerging trends for this period also include rising co-investment opportunities, the consolidation of family offices, a focus on family governance, the implementation of philanthropic strategies, along with an increase in regulatory compliance.

What Market Dynamics Are Playing a Key Role in Accelerating the Growth of the family offices Market?

The growing requirement for wealth management is anticipated to fuel the expansion of the family offices market in the future. This refers to specialized services and strategies used to help individuals or households safeguard, expand, and manage their wealth. Family offices are gaining traction by offering a wider array of advanced financial services and expertise to cater to the intricate needs of wealthy individuals and families. One of the advantages of a family office in wealth management is the delivery of dedicated and comprehensive financial services customized to the explicit needs and objectives of wealthy families, enabling them to conserve, increase, and proficiently manage their wealth across various generations. For example, as per the Global Family Office Report 2022 by UBS Group AG, a Switzerland-based investment banking firm, over 80% of family offices invested in private equity, with a rising number making direct investments each year. The total wealth average allocations in private equity have consistently risen to 13% in 2021. Hence, the escalating demand for wealth management is set to propel the growth of the family offices market.

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What Are the Major Players Making an Impact in the Family Offices Market’s Growth?

Major companies operating in the family offices market include:

• Cascade Investment Group Inc.

• MSD Partners LP

• Stonehage Fleming Group

• Glenmede Trust Co

• The Bessemer Group Incorporated.

Which Upcoming Trends Are Set to Influence the Family Offices Market’s Path Forward?

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How Are the Key Segments of the Family Offices Market Impacting Its Expansion and Revenue Streams?

The family offices market covered in this report is segmented –

1) By Type: Single Family Office, Multi-Family Office, Virtual Family Office

2) By Asset Class: Bonds, Equities, Alternative Investments, Commodities, Cash Or Cash Equivalents

3) By Office: Founders’ Office, Multi-Generational Office, Investment Office, Trustee Office, Compliance Office, Philanthropy Office, Shareholder’s Office, Other Offices

4) By Net-Worth Managed: Less Than 50 Million, 50 Million To 100 Million, More Than 100 Million

Subsegments:

1) By Single Family Office: Traditional Single Family Office, Investment-Focused Single Family Office, Hybrid Single Family Office

2) By Multi-Family Office: Independent Multi-Family Office, Bank-Affiliated Multi-Family Office, Wealth Management Firm Multi-Family Office

3) By Virtual Family Office: Technology-Enabled Virtual Family Office, Outsourced Virtual Family Office Services, Advisory-Based Virtual Family Office

What Regions Are Steering Growth in the Family Offices Sector?

North America was the largest region in the global family offices market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the family offices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

How Is the Family Offices Market Classified and Defined in Market Analysis?

A family office is a private wealth management organization that caters to the financial and investment needs of high-net-worth individuals or families. They enable a family to keep all their confidential information in one safe location that is also easily accessible.

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