Family Offices Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Family Offices Industry Market Analysis

The Family offices market is valued at USD 87.18 billion currently and is expected to reach USD 133.60 billion over the forecast period, registering a CAGR of 7.5% over the forecast period.

Shifting economic and market forces and the continuous globalization of society, commerce, and regulation are driving the emergence of family offices. Family offices are private wealth management advisory firms established to manage families’ private wealth. They provide financial advice only to family members, are wholly owned and controlled by family members, and do not present themselves as public investment advisors. The establishment of family offices to manage the affairs of wealthy families surged in recent years. The emergence of family offices can be attributed to the rise in worldwide wealth over the years.

Asia-Pacific is becoming increasingly attractive for investments among family offices already in the region and around the globe, favoring high-yield equities. Asia-Pacific family offices made the sophistication of their vehicles much of a priority for developing a post-pandemic growth strategy, sustainable investing, and succession planning. The region's families were well behind their North American and European counterparts in investing in cryptocurrency. European families are more interested in funding or donating to such philanthropic causes outside their region than North American And Asia-Pacific HNWIs.

As a worldwide pandemic, COVID-19 affected people's health and society's well-being and directly impacted global markets and businesses. With increased uncertainties over COVID-19 recovery and challenges in the global geopolitical environment, family offices remain cautious about future investment prospects. The pandemic severely impacted the global economy, but government actions in the form of stimulus mitigated the impact by the end of 2020. In some developed markets, interest rates were close to zero or even negative, and returns on income remained low. Thus, family offices gradually change their asset allocations.

Family offices were increasingly seen as a boon for international finance centers. Gradually, establishing a family office in a single location was no longer sufficient, and families began to explore offshore financial markets. The UK, Switzerland, Luxembourg, and popular and well-established offshore centers, such as Hong Kong, Monaco, and the Channel Islands, continue to host offices of wealthy foreign families. Certain jurisdictions offer specialties such as options for hedge funds in the Cayman Islands or better risk management options in Bermuda for attracting family offices.

Family Offices Industry Industry Segmentation

A family office is a private wealth management advisory firm that serves ultra-high network-worth individuals. The report covers a complete background analysis Market. It includes an assessment of the economy and the contribution of sectors in the economy, a market overview, market size estimation for critical segments, emerging trends in the market segments, and market dynamics. The Global Family Offices Industry is segmented by product (single family office, multi-family office, and virtual family office), asset class the investment (bonds, equity, alternative investments, commodities, and cash or cash equivalents), and geography (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa). The report offers market size and forecasts for Global Family Offices Industry Market in value (USD million) for all the above segments.

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Family Offices Industry Market Trends

Family Offices Invest Majority Of Their Assets Into Alternatives

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