Family offices, the private investment firms managing the wealth of ultra-high-net-worth families, are poised for unprecedented growth. A report from Deloitte Private estimates that by 2030, family offices will hold over $5.4 trillion in assets, up from $3.1 trillion today. This rapid growth, driven by increasing wealth concentration and evolving wealth management strategies, is expected to elevate family offices to a position of greater financial clout than hedge funds.
The number of single-family offices, typically serving families worth $100 million or more, is projected to rise from 8,000 today to 10,720 by 2030. These family offices manage not only investments but also offer tailored services across legal, tax, and lifestyle areas, providing wealthy families with a more personalized and dedicated approach than traditional wealth management firms.
According to Rebecca Gooch, Global Head of Insights for Deloitte Private, “The growth has been explosive, particularly over the past decade, reshaping the wealth management landscape.”
Family offices are also becoming a key source of capital for private equity, venture capital, and private companies. With nearly half of their portfolios invested in alternative assets, they are increasingly being courted by major financial firms and private equity players for direct investments. Family offices now have more assets invested in private equity than in traditional stocks and bonds.
North America leads the global family office revolution, with the region’s total family office wealth expected to grow by 258% by 2030, reaching $4 trillion. The number of single-family offices in North America is set to increase from 3,180 to 4,190 over the same period.
This surge in assets and influence has sparked intense competition among wealth management firms, consulting companies, and other service providers to capture family office business. Many traditional firms are expanding their offerings, while family offices themselves are institutionalizing—hiring more staff, adopting advanced technology, and diversifying their services to meet the growing demands of ultra-wealthy families.
As family offices continue to grow in size and complexity, they are poised to become a dominant force in the global financial landscape.