Market Overview:
The global family offices market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X%. The growth of the market can be attributed to the increasing demand for family office services from high-net-worth individuals and the rising number of multi-family offices. However, the lack of awareness about family office services among investors is expected to restrain the growth of this market during the forecast period. Based on type, the global family offices market can be segmented into single family office, multi-family office, and virtual family office. The single family office segment is projected to account for a larger share of the global market duringthe forecast period. By application, financial services accounted for a major shareof th eglobal fam ily offi ces mar ket in 2017 .Thi s segm ent i sprojectedtobecome oneofthe fastestgrowing segmentsduringthe forecastperiod.
Product Definition:
Family Offices are typically created when a family has amassed a large enough fortune to require full-time professional management. A Family Office is a single entity that provides comprehensive wealth management services to one or more wealthy families. The importance of Family Offices is that they can provide much needed coordination and consolidation of all the various professionals who deal with different aspects of the family's finances, including accountants, lawyers, investment advisors and insurance agents. This allows the family to have greater oversight and control over their wealth, as well as increased privacy.
Single Family Office:
Single-family office (SFO) is a type of family office that provides investment management and other services for a single employer. The SFO market has been growing at an impressive rate over the past few years owing to the increasing number of new entrants in the market and high demand from clients seeking independent wealth managers.
The key drivers responsible for this growth include rising income levels, changing lifestyles, increased spending capacity, and low-interest rates on savings.
Multi Family Office:
Multi-family office is a type of financial and business management service that involves more than two families (or groups) working together. The main objective of these offices is to help the clients achieve their financial goals in an efficient manner. These services are designed for the benefit of both families and clients, which include planning, organizing, investinging and controlling wealth as well as protecting it from various risks.
Application Insights:
The advisory segment dominated the global family offices market in 2017 and is expected to witness significant growth over the forecast period. The growing importance of family advice for decision-making in business as well as personal matters has led to an increased demand for professional advisors. Furthermore, increasing number of high net worth individuals (HNWI) across the globe has created a scope for advisory services. HNWI are more prone to risk due to their substantial assets which may result in losses if proper planning and management is not done. Thus, this trend is anticipated to boost industry growth over the forecast period.
Regional Analysis:
Asia Pacific dominated the global family offices market in 2017. The region is expected to continue its dominance over the forecast period as well, owing to factors such as growing population and increasing number of high net worth individuals (HNWIs). Furthermore, rising adoption of international financial services for asset management will drive regional growth.
The Middle East & Africa is anticipated to grow at a lucrative rate over the forecast period owing to significant developments in economies including Dubai and Saudi Arabia. In addition, new regulations aimed at encouraging foreign investors are likely boost regional growth further. For instance, Foreign Investment Promotion Law (FIPL) was introduced in 2015 with an aim of attracting more foreign investments into UAE economy by offering various incentives like tax benefits and regulatory flexibility within prescribed limits (i.e., 50% limit on investment instruments).
Growth Factors:
- Increasing demand for customized wealth management services: Family offices are increasingly becoming popular among high-net-worth individuals as they offer a wide range of tailored wealth management services that cater to the specific needs and requirements of each family. This has led to an increase in the demand for family offices, thereby driving the growth of this market.
- Rising number of ultra-high-net-worth individuals: The number of ultra-high-net worth individuals is increasing at a rapid pace, which is resulting in an increase in the demand for family office services. According to a study by WealthInsight, the number of ultra high net worth individuals (UHNWIs) is expected to grow at a CAGR of 9% from 2013 to 2018, reaching 3,719 by 2018. This growing population is providing significant opportunities for growth in the family office market.
- Proliferation of digital technologies: The proliferation of digital technologies has enabled families and their advisors to manage their finances more efficiently and effectively through online platforms and mobile apps. This has resulted in increased efficiency and transparency within the family office market, thereby driving its growth.
Scope Of The Report
Report Attributes
Report Details
Report Title
Family Offices Market Research Report
By Type
Single Family Office, Multi Family Office, Virtual Family Office
By Application
Financial, Strategy, Governance, Advisory
By Companies
Atlantic Trust, Hawthorn, Wilmington Trust, BMO Harris Bank, HSBC Private Bank, Stonehage Fleming Family and Partners, BNY Mellon Wealth Management, Northern Trust, Citi Private Bank, UBS Global Family Office Group, Bessemer Trust, Glenmede Trust Company, U.S. Trust Family Office, Abbot Downing, Pictet, Rockefeller Capital Management
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
194
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.
Global Family Offices Market Report Segments:
The global Family Offices market is segmented on the basis of:
Types
Single Family Office, Multi Family Office, Virtual Family Office
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Financial, Strategy, Governance, Advisory
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Atlantic Trust
- Hawthorn
- Wilmington Trust
- BMO Harris Bank
- HSBC Private Bank
- Stonehage Fleming Family and Partners
- BNY Mellon Wealth Management
- Northern Trust
- Citi Private Bank
- UBS Global Family Office Group
- Bessemer Trust
- Glenmede Trust Company
- U.S. Trust Family Office
- Abbot Downing
- Pictet
- Rockefeller Capital Management
Highlights of The Family Offices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Family Office
- Multi Family Office
- Virtual Family Office
- By Application:
- Financial
- Strategy
- Governance
- Advisory
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Family Offices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Family offices are a type of financial institution that specializes in providing services to families, such as estate planning, investment management and banking.
Some of the major players in the family offices market are Atlantic Trust, Hawthorn, Wilmington Trust, BMO Harris Bank, HSBC Private Bank, Stonehage Fleming Family and Partners, BNY Mellon Wealth Management, Northern Trust, Citi Private Bank, UBS Global Family Office Group, Bessemer Trust, Glenmede Trust Company, U.S. Trust Family Office, Abbot Downing, Pictet, Rockefeller Capital Management.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Family Offices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Family Offices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Family Offices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Family Offices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Family Offices Market Size & Forecast, 2018-2028
4.5.1 Family Offices Market Size and Y-o-Y Growth
4.5.2 Family Offices Market Absolute $ Opportunity
Chapter 5 Global Family Offices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Family Offices Market Size Forecast by Type
5.2.1 Single Family Office
5.2.2 Multi Family Office
5.2.3 Virtual Family Office
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Family Offices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Family Offices Market Size Forecast by Applications
6.2.1 Financial
6.2.2 Strategy
6.2.3 Governance
6.2.4 Advisory
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Family Offices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Family Offices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Family Offices Analysis and Forecast
9.1 Introduction
9.2 North America Family Offices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Family Offices Market Size Forecast by Type
9.6.1 Single Family Office
9.6.2 Multi Family Office
9.6.3 Virtual Family Office
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Family Offices Market Size Forecast by Applications
9.10.1 Financial
9.10.2 Strategy
9.10.3 Governance
9.10.4 Advisory
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Family Offices Analysis and Forecast
10.1 Introduction
10.2 Europe Family Offices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Family Offices Market Size Forecast by Type
10.6.1 Single Family Office
10.6.2 Multi Family Office
10.6.3 Virtual Family Office
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Family Offices Market Size Forecast by Applications
10.10.1 Financial
10.10.2 Strategy
10.10.3 Governance
10.10.4 Advisory
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Family Offices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Family Offices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Family Offices Market Size Forecast by Type
11.6.1 Single Family Office
11.6.2 Multi Family Office
11.6.3 Virtual Family Office
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Family Offices Market Size Forecast by Applications
11.10.1 Financial
11.10.2 Strategy
11.10.3 Governance
11.10.4 Advisory
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Family Offices Analysis and Forecast
12.1 Introduction
12.2 Latin America Family Offices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Family Offices Market Size Forecast by Type
12.6.1 Single Family Office
12.6.2 Multi Family Office
12.6.3 Virtual Family Office
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Family Offices Market Size Forecast by Applications
12.10.1 Financial
12.10.2 Strategy
12.10.3 Governance
12.10.4 Advisory
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Family Offices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Family Offices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Family Offices Market Size Forecast by Type
13.6.1 Single Family Office
13.6.2 Multi Family Office
13.6.3 Virtual Family Office
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Family Offices Market Size Forecast by Applications
13.10.1 Financial
13.10.2 Strategy
13.10.3 Governance
13.10.4 Advisory
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Family Offices Market: Competitive Dashboard
14.2 Global Family Offices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Atlantic Trust
14.3.2 Hawthorn
14.3.3 Wilmington Trust
14.3.4 BMO Harris Bank
14.3.5 HSBC Private Bank
14.3.6 Stonehage Fleming Family and Partners
14.3.7 BNY Mellon Wealth Management
14.3.8 Northern Trust
14.3.9 Citi Private Bank
14.3.10 UBS Global Family Office Group
14.3.11 Bessemer Trust
14.3.12 Glenmede Trust Company
14.3.13 U.S. Trust Family Office
14.3.14 Abbot Downing
14.3.15 Pictet
14.3.16 Rockefeller Capital Management
