From CNBC: 2024-09-05 14:48:59

Family offices are set to add over $2 trillion in assets by 2030 as wealth concentration and changing wealth management drive growth. The number of single-family offices is expected to rise to 10,720 by 2030. The wealth of families with family offices is projected to reach $9.5 trillion by 2030.

Wealth is growing fastest at the top, with populations of centimillionaires and billionaires increasing. The ultra-wealthy are opting for single-family offices over traditional wealth management. Family offices offer more privacy, customization, and tailored programs.

North America leads the family office revolution with assets expected to reach $4 trillion by 2030. Wall Street is competing to manage family office money. Family offices are becoming more institutionalized with staff averaging 15 people managing $2 billion.

Family offices are shifting investments to alternative assets like private equity and venture capital. More offices are making direct investments in private companies. Hiring is on the rise, with 40% planning to hire more staff. Trends include professional management and succession planning for the next generation.



Read more at CNBC: Family offices may surpass hedge funds, with $5.4 trillion by 2030