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How has the family offices market size evolved in recent years?

In recent times, there has been a robust expansion in the size of the family offices market. The market, which was valued at $19.29 billion in 2024, is projected to climb to $20.39 billion in 2025, reflecting a Compound Annual Growth Rate (CAGR) of 5.7%. Factors contributing to the growth during the historic period include trends in wealth accumulation, necessities for asset diversification, planning for succession, the international spread of wealth, and strategies for tax optimization.

What are the predictions for the family offices market size in the coming years?

Expectations are high for robust expansion in the family offices market size over the coming years. Projected to reach “$25.46 billion in 2029, the market is set to experience a compound annual growth rate (CAGR) of 5.7%. This projected growth within the forecast period can be linked to factors such as an increase in ultra-high net worth individuals (UHNWI), trends in impact investing, the digital revolution in finance, and shifts in wealth management across generations. The forecast period also indicates upcoming trends such as the emerging co-investment opportunities, the trend towards family office consolidation, an emphasis on family governance, incorporation of philanthropic strategies, and an uptick in regulatory compliance.

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What key factors are fueling the growth of the family offices market?

The rise in demand for wealth management is projected to fuel the expansion of the family offices market in the future. Professional services and strategies that assist individuals or families in maintaining, enhancing, and controlling their wealth fall under wealth management. With the provision of an extensive assortment of intricate financial services and proficiency, family offices are witnessing growth by catering to the unique demands of high-net-worth individuals and families. The advantage of using a family office for wealth management is the supply of thoroughly personalised and comprehensive financial services that are suited to the particular requirements and objectives of wealthy families. This ensures the protection, augmentation, and effective management of their wealth over generations. For example, the Global Family Office Report 2022 by UBS Group AG, an investment banking corporation based in Switzerland, revealed in June 2022 that over 80% of family offices are investing in private equity, with a rising number executing direct investments annually. Notably, average allocations of total wealth in private equity has consistently grown, reaching 13% in 2021. Consequently, the escalating demand for wealth management is predicted to spur the growth of the family offices market.

How is the global family offices market divided into key segments?

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

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Who are the key firms paving the way for growth in the family offices market?

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., The Bank of New York Mellon Corporation, UBS Group AG, BMO Financial Group, Cambridge Associates Ltd., Citigroup Inc., Wells Fargo & Company, Northern Trust Corporation, Silvercrest Asset Management Group LLC, The Pictet Group, Emerson Collective LLC, Bezos Expeditions LLC, The Woodbridge Company Ltd., Hillhouse Capital Management Limited, Premji Invest, ICONIQ Capital LLC, Bregal Investments LLP, Gart Capital Partners, Rockefeller Capital Management L.P., Soros Fund Management LLC, The Chernin Group Inc., The Pritzker Organization LLC, The Raine Group LLC, The Yucaipa Companies LLC, Tiger Global Management LLC

Which trends are expected to transform the family offices market?

The rising trend of disruptive technologies like AI and blockchain is becoming increasingly prevalent in the family offices market. Mainstream companies in this market are consistently focusing on these disruptive technologies to maintain their competitiveness through increased adoption. For example, Raffles Family Office, a multi-family office based in China that provides investment management services, introduced Revo Digital Family Office in October 2022. This new platform, designed for ultra-wealthy families to engage in digital asset investment, employs blockchain technology. It transforms outdated systems and advancing processes in wealth management, providing enhanced security and efficiency.

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What regions are contributing significantly to the growth of the family offices market?

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

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