Press release
Leading Element Driving Change in the Family Offices Market in 2025: Rising Need For Wealth Management To Drive Market Growth Driver
Family Offices Market Trends
The escalating demand for wealth preservation and growth strategies is anticipated to propel the expansion of the family offices market. These professional services enable individuals and families to maintain and enhance their wealth. Family offices are witnessing growth as they offer extensive and sophisticated monetary services and expertise to cater to the intricate requirements of affluent individuals and families. One primary advantage of a family office in wealth management is the provision of comprehensive and highly customizable financial services, designed to suit the unique needs and objectives of prosperous families. It aids them in preserving, enhancing, and efficiently managing their wealth through generations. For instance, the Global Family Office Report 2022 by UBS Group AG, a Switzerland-based investment banking company, revealed in June 2022 that over 80% of family offices are investing in private equity, with a rising number making direct investments annually. The average allocations in private equity have been on a consistent rise, reaching about 13% in 2021. Thus, the mounting demand for effective wealth management strategies is expected to fuel the growth of the family offices market.
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What growth opportunities are expected to drive the family offices market's CAGR through 2034?
The market size of family offices has seen a significant increase in the past few years. The market is anticipated to expand from $19.29 billion in 2024 to $20.39 billion in 2025, at a compound annual growth rate (CAGR) of 5.7%. Factors such as wealth accumulation trends, the necessity for asset diversification, succession planning, the globalization of wealth, and tax optimization strategies can explain the growth during the historic period.
The market size for family offices is predicted to experience significant expansion in the coming years, reaching "$25.46 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 5.7%. The projected growth during this period can be ascribed to factors such as an increase in ultra-high net worth individuals (UHNWI), emerging trends in impact investing, the digital revolution's effects on finance, and generational changes in wealth management. Major forecasted trends include expansion of co-investment opportunities, consolidation in the family office sector, emphasis on family governance, embracing philanthropic strategies, and heightened regulatory compliance.
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What are the emerging trends shaping the future of the family offices market?
Revolutionary technologies including AI and blockchain are rapidly growing trends in the family offices market. Prominent companies in this market often concentrate on such disruptive technologies to maintain an edge, by embracing them more frequently. To illustrate, Raffles Family Office, a multi-family office providing investment management services based in China, unveiled Revo Digital Family Office in October 2022. This advanced platform empowers ultra-wealthy families to venture into and invest in digital assets. Designed using blockchain technology, it enhances old systems and processes in wealth management, delivering improved security and efficiency.
Which growth-oriented segments of the family offices market are leading the industry's development?
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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What regions are leading the charge in 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
What companies are at the forefront of innovation 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
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What Is Covered In The Family Offices Global Market Report?
• Market Size Forecast: Examine the family offices market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the family offices market for a structured understanding.
• Key Players Overview: Analyze major players in the family offices market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the family offices market.
• Segment Contributions: Evaluate how different segments drive overall growth in the family offices market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the family offices market.
• Industry Challenges: Identify potential risks and obstacles affecting the family offices market.
• Competitive Landscape: Review strategic developments in the family offices market, including expansions, agreements, and new product launches.
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