Family Offices: Shaping the Global Economic Landscape. Part 2 of Series on Family Office

In our second installment, we focus on the profound impact of Family Offices on the global economy.

According to the Global Wealth Report 2022 by Credit Suisse and UBS, the total net private wealth is a staggering USD 454.4 trillion, projected to surge by 38% over the next five years. This unprecedented growth, predominantly driven by middle-income countries, signifies a paradigm shift in wealth distribution and management.

Family Offices, which manage a fraction of this wealth, play a crucial role in this expanding economic universe. Currently, there are approximately 7,300 single-family offices worldwide, with a combined net worth of USD 495.8 billion. This represents a mere 0.1% of total Global Wealth, a figure set to grow as more families take the helm of their financial affairs.

This shift towards self-directed wealth management by families and private individuals is not just a trend but a movement – one that is redefining the traditional roles of private banks and wealth managers.

In our next email, we'll explore why this shift is occurring and what it means for the future of wealth management.

 Kind Regards

Ayoob Rawat

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