A recent report reveals that Asia has now surpassed Europe in the number of family offices, with 2,290 offices compared to Europe’s 2,020. This shift marks Asia’s growing prominence in financial asset management, and projections suggest that by the end of the decade, Asia could surpass Europe in this area. The Deloitte report forecasts a nearly 75% increase in assets under management in the region, signaling strong growth in the years ahead.
The United States currently leads the world in the number of family offices, but by 2030, Asia is expected to overtake the U.S. as well. According to the report, the number of global family offices has risen from 6,130 in 2019 to 8,030 today. These offices collectively manage around $5.5 trillion in wealth, a significant jump from $3.3 trillion in 2019. By 2030, this figure could rise to $9.5 trillion, representing a 189% increase in managed assets. This growth is largely fueled by concentrated wealth, successful generational wealth transfers, and a growing demand for personalized investment strategies.
Another significant finding of the report is the increasing role of women in family office leadership. The report predicts that by 2030, 15% of executive positions in family offices globally will be held by women, reflecting a broader trend towards gender equality in the financial sector. Additionally, family offices manage a mix of wealth across generations. Currently, 41% of family offices handle first-generation wealth, while 30% manage second-generation, and 19% focus on third-generation and beyond.
Looking ahead, the family office sector is expected to see rapid expansion. There will likely be more offices worldwide, greater professionalization and institutionalization, as well as diversification in both asset classes and geographic investments. The sector is poised for continued growth as it adapts to the evolving needs of wealthy families and the financial landscape.
