DBS Private Bank and the Economist Intelligence Unit just published „the family office boom: contrasts between east and west“, with some interesting data points and anecdotes.
And since asset managers are focusing more and more on wealth management and service HNW and UHNW clients, we added some thoughts on how to tap into that family office boom.
EY suggests that the number of family offices worldwide has increased ten-fold since the GFC to around 10,000 in 2024.
As a rule of thumb, European fortunes are generally older and inherited, while in Asia they fall into new and entrepreneurial categories (esp in China).
Investments into private equity and private debt have increased over the last ten years – with a focus on portfolio diversification in Europe, and high-return in Asia.
Total holdings of HNWIs worldwide (defined as more than $50 million in assets), are estimated to be around $74 trillion by Capgemini.
The number of billionaires within that grouping stands around 2,500 to 3,000.
Asia Pacific leads the HNW AUM total with $22.2 trillion, next to North America with $21.7 trillion. Europe is third with $16.7 trillion, followed by LatAm with $8.8 trillion.
Four out of ten family offices globally have been created in the last decade, according to Tamarind Partners founder Kirby Rosplock.
Age and gender distribution of billionaires is : 88% male. 40% over 70 years old, 50% between 50 and 70, and 10% under 50.
In Asia, there are still patriarchal family systems, reverential to older generations. In the West, Rosplock sees more democratic thinking (and, sometimes, litigation).
Succession remains the top priority for wealthy families and their offices.
Warren Enskat Group 
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