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Laxman Pai, Opalesque Asia:

Global family offices are opening more physical offices in different jurisdictions as family members move abroad or live in different countries and the trend is set to increase in the next five years, said a study.

Ocorian's international study among more than 300 family office professionals collectively responsible for around $155 billion assets under management found that 78% have opened more offices in different jurisdictions over the past five years.

According to the research, the main reason for opening more offices is because family members are increasingly moving abroad or living in different countries cited by 79%. But 57% said more offices were needed as investment portfolios have diversified or become more sophisticated and 41% have done so in response to risk posed by geopolitical issues.

Around 40% opened more offices for tax and regulatory issues while 11% said they've already opened more offices in different jurisdictions because of a skills shortage.

Michael Harman, Commercial Director, Private Client at Ocorian said: "There has been a significant increase in the numbers of physical offices opened by high-net-worth families in the last five years, and our research shows that this has been driven primarily by a market trend which sees clients setting up their own family offices, wherever they happen to be, rather than using an existing family office. People want to live internationally and also have their investmen......................

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