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Alternative Market Briefing

North America dominates the family office market with more than 92,000 wealthy individuals

Wednesday, January 26, 2022

Laxman Pai, Opalesque Asia:

North America holds nearly two-thirds of family offices globally, where investments are made through Single Family Office (SFO) and Multi-Family Office (MFO), said a study.

North America dominates the family office market with more than 92,000 wealthy individuals. The US alone contributes to half the global UHNWIs with more than 89,000 individuals, according to the latest report from

Key countries such as Italy, France, Germany, the UK, Spain, Western Europe account for the majority of the share of the family office market in Europe in terms of revenue. The family office market in Western Europe is mainly driven by traditional family businesses that invest in multiplying their wealth and hold their family legacy and values through their mission.

"The growing number of UHNWIs (private wealth advisory firms) are driving the demand for family office services. Today, wealthy families rely on family offices to manage their wealth as they hold fragile trust in private banks and increasingly prefer family offices," said the report.

However, the business encounters many regulatory, technological, and operational challenges that are expected to hamper the market's growth. Direct investments are stand-alone investments and have good returns compared to private equity. More than 65% of high-net-worth individuals invest their funds through direct investments. It helps the market grow diverse across the globe and allows them to ......................

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