Family Offices Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Single Family Office, Multi-Family Office, Virtual Family Office), By Asset Class of Investment (Bonds, Equity, Alternative Investments, Commodities, Cash or Cash Equivalents), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 20.57 Billion
CAGR (2026-2031)	5.41%
Fastest Growing Segment	Virtual Family Office
Largest Market	North America
Market Size (2031)	USD 28.22 Billion

Market Overview

The Global Family Offices Market will grow from USD 20.57 Billion in 2025 to USD 28.22 Billion by 2031 at a 5.41% CAGR. Family offices are private wealth management firms dedicated to overseeing the financial and personal affairs of ultra-high-net-worth families. The market is primarily supported by the accelerating intergenerational transfer of wealth and a growing preference for direct investment control among wealthy individuals who seek to bypass third-party intermediaries. Additionally, the increasing complexity of global financial regulations drives the demand for the centralized governance and tailored strategies that these dedicated entities offer to protect and grow family capital.

According to Campden Wealth, in 2024, the average assets under management for family offices surveyed measured 1.4 billion United States dollars. Despite this financial strength, the sector faces a significant challenge regarding succession planning. Many organizations lack formal strategies to transition leadership effectively to the next generation, creating operational uncertainty and stability risks that could impede the long-term sustainability and future expansion of the global market.

Key Market Drivers

The rapid expansion of the Global Ultra-High-Net-Worth (UHNW) population acts as the primary catalyst for the family office sector, fundamentally enlarging the addressable market for private wealth management. As the number of affluent individuals rises, so does the complexity of their financial requirements, necessitating the dedicated, bespoke structures that family offices provide over traditional private banks. This demographic surge is evident in recent wealth creation trends. According to Knight Frank, March 2024, in 'The Wealth Report 2024', the number of ultra-high-net-worth individuals globally rose by 4.2% in 2023, reversing previous declines and signaling a robust pipeline for new family office establishment. This influx of wealth owners drives the proliferation of both single and multi-family offices seeking to professionalize asset preservation.

Simultaneously, a strategic shift toward direct private equity and alternative investments is redefining the market's operational focus. Family offices are increasingly bypassing third-party investment funds to acquire direct stakes in companies, allowing for greater control over decision-making, reduced fee structures, and longer investment horizons aligned with generational capital preservation. This trend is heavily influencing portfolio construction and staffing requirements. According to Citi Private Bank, October 2024, in the 'Global Family Office 2024 Survey Insights', almost three-quarters of family office respondents indicated they are looking to acquire direct stakes in companies, highlighting the aggressive move toward active dealmaking. This sophisticated investment approach requires enhanced governance, yet as the sector matures, it faces external pressures; according to UBS, in 2024, geopolitical conflict was identified as the top concern among family offices globally, influencing risk management strategies.

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Key Market Challenges

Succession planning serves as a critical operational bottleneck that significantly impedes the stability and expansion of the Global Family Offices Market. When these entities fail to establish clear, formalized strategies for the transition of leadership, they expose themselves to severe governance risks. The absence of a defined roadmap for the next generation often leads to internal conflict, delayed decision-making, and potential fragmentation of family assets. This uncertainty not only threatens the continuity of the family office itself but also deters the long-term capital deployment essential for market growth, as the primary focus shifts from wealth expansion to dispute resolution and asset preservation.

According to Campden Wealth, in 2024, only 30% of North American family offices had a formal, written succession plan in place, despite the majority anticipating a generational transition within the next decade. This statistic underscores a widespread vulnerability in the sector, indicating that a significant proportion of market participants are operating without the structural assurance needed to survive an inevitable leadership change. Consequently, this lack of preparedness directly hampers the market’s maturity, as the risk of dissolution or returning assets to third-party intermediaries remains high for families unable to navigate the complexities of intergenerational transfer.

Key Market Trends

The integration of Artificial Intelligence and advanced data analytics is rapidly transitioning from a theoretical interest to a core operational necessity for family offices seeking to enhance investment precision and operational efficiency. As investment landscapes become increasingly complex, these entities are leveraging AI tools not only for back-office automation but critically for predictive modeling, due diligence, and risk management to gain an information edge over traditional market participants. This technological pivot is substantiated by recent industry data indicating a widespread adoption of such sophisticated tools. According to Goldman Sachs, September 2025, in the '2025 Family Office Investment Insights' report, 51% of family offices globally already utilize artificial intelligence tools within their investment processes, while 86% have exposure to AI-related investments in their portfolios.

Concurrently, there is a pronounced expansion of operations into emerging global hubs like Dubai and Singapore, driven by the need for jurisdictional diversification and access to high-growth regional markets. Family offices are establishing satellite or dual-headquarter structures in these centers to benefit from favorable regulatory frameworks, tax efficiency, and proximity to new deal flow in Asia and the Middle East, moving beyond their traditional concentration in Europe and North America. This geographic realignment is evident in the rapid surge of registrations in these financial capitals. According to the Dubai International Financial Centre (DIFC), July 2025, the number of entities associated with family businesses operating within the centre increased by 73% year-on-year to reach 1,035, reflecting the accelerating migration of private wealth to these strategic jurisdictions.

Segmental Insights

The Virtual Family Office segment is emerging as the fastest-growing category within the global family offices market due to a structural shift toward cost-efficient wealth management. This growth is primarily driven by Ultra-High-Net-Worth Individuals seeking to mitigate the high operational expenditures associated with establishing physical offices and hiring full-time personnel. By utilizing a virtual model, families can outsource essential functions such as investment management and legal compliance to external professionals on an as-needed basis. This approach offers operational flexibility and significantly reduces administrative burdens, making the virtual format a preferred choice for modern wealth preservation strategies.

Regional Insights

North America dominates the global family offices market due to a high concentration of ultra-high-net-worth individuals and a mature ecosystem for intergenerational wealth transfer. The region benefits from a well-defined legal framework that supports private wealth preservation. For instance, the United States Securities and Exchange Commission provides clear regulatory guidelines that structure the operations of single and multi-family offices. This established institutional environment, coupled with deep capital markets, encourages the continued expansion of family wealth management entities across the region.

Recent Developments

• In July 2025, Eton Solutions formed a strategic collaboration with Asas Capital to launch the "Family Office as a Service" platform in the Middle East. This partnership combined Eton Solutions' cloud-native "AtlasFive" enterprise resource planning software with the regional investment management expertise of the UAE-based firm. The initiative aimed to transform the global family offices market in the Gulf Cooperation Council region by offering a digitized, institutional-grade solution for wealth governance and reporting. The collaboration was specifically designed to enhance operational efficiency and data security for ultra-high-net-worth families seeking to professionalize their wealth management structures.
• In April 2025, Northern Trust Wealth Management announced the launch of "Family Office Solutions," a new service offering situated within its Global Family and Private Investment Offices practice. This initiative was developed to provide ultra-high-net-worth families with customized financial oversight and institutional investment capabilities without requiring them to establish their own administrative infrastructure. The service addresses a growing trend in the global family offices market where wealthy individuals seek the strategic advantages and personalized governance of a family office while outsourcing the complex operational, technological, and reporting requirements to an established financial institution.
• In November 2024, Goldman Sachs launched an expanded "Goldman Sachs Family Office" platform, integrating its Ayco and Private Wealth Management capabilities to serve the complex needs of ultra-high-net-worth clients. The firm introduced a dual-structure model featuring "Family Office Solutions," which offers a la carte services such as consolidated reporting, alternative investment administration, and cybersecurity. This strategic development was designed to provide the global family offices market with flexible, institutional-grade infrastructure, allowing clients to access bespoke wealth management resources without the operational burden of maintaining a standalone single-family office.
• In September 2024, Citi Private Bank released its "Global Family Office 2024 Survey Insights," presenting breakthrough research on the evolving investment behaviors of ultra-high-net-worth families. The comprehensive study, which surveyed a record number of participants, identified a decisive shift in asset allocation as family offices moved capital from cash reserves into fixed income and private equity markets. Furthermore, the report highlighted a significant rise in interest regarding artificial intelligence, noting that while investment exposure to the technology increased, operational adoption remained in the early phases. This research provided the global family offices market with critical benchmarks for managing intergenerational wealth transfer and portfolio diversification.

Key Market Players

• Cascade Asset Management Company
• Bezos Expeditions
• Bessemer Trust
• Merck Sharp & Dohme LLC
• Stonehage Fleming Group
• Glenmede Trust Company, N.A.
• Emerson Collective, LLC
• Bank of America Corporation
• Bespoke Wealth Management
• JPMorgan Chase & Co.

By Product Type	By Asset Class of Investment	By Region
Single Family Office Multi-Family Office Virtual Family Office	Bonds Equity Alternative Investments Commodities Cash or Cash Equivalents	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Family Offices Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Family Offices Market , By Product Type:

• Single Family Office
• Multi-Family Office
• Virtual Family Office

• Family Offices Market , By Asset Class of Investment:

• Bonds
• Equity
• Alternative Investments
• Commodities
• Cash or Cash Equivalents

• Family Offices Market , By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE