Shift in Priorities For Family Offices and UHNW Clients Highlighted in Global Survey

business-team-work-brainstroming-meeting-in-page

Interest in private market investments show no signs of decline and continue to hold the first spot among Ultra-High Net-Worth(UHNW) families according to the recently released 2nd Annual Family Barometer 2021 by Global wealth manager Julius Baer. 

“We commissioned a survey of more than 800 industry experts to shed light on the topics that families are discussing right now, from investment to governance, to learn where their concerns lie, and to explore how they make important decisions,” said Guy Simonius, the head of the family office at Julius Baer.

The survey reported that sustainable, impact, and Environment, Social and Governance(ESG)-related investment areas showed the most growth in importance(at 17 percent) over the past 5 years. 

Family wealth and governance-related topics held the top spot among “beyond investments” discussions at 26 percent and 25 percent respectively. This is in contrast to the fact that only 1 in 10 UHNW families has established a formal governing body. “Health” has replaced “Regulatory Aspects” to secure the third position with 19 percent of wealth managers citing it as the most important topic of discussion for their clients – a direct result of the influence of COVID-19 on the financial markets. 

The survey also concluded that in every second family, decisions were made by a single person while the overwhelming majority of financial specialists dealt with only the patriarch or the matriarch of the family. 

Reiterating the importance of engaging in meaningful dialogues with families and experts regarding wealth management issues, Simonius concluded, “Experience shows that doing so can bring greater peace of mind and contentment, and can also help to mitigate conflict and bring a family closer together.”

New priorities for family offices and UHNW clients revealed in global survey‘- Mark Battersby, International Investment

Share this post

More latest news