Family offices are expected to add more than $2 trillion in assets by 2030, as an increase in wealth concentration and a revolution in wealth management drive rapid growth in new family offices.
In total, the wealth of families with family offices is expected to top $9.5 trillion in 2030, according to the report — more than doubling over the decade.
"It's really the past decade that has seen an acceleration in growth in family offices."
The rise of family offices is remaking the wealth management industry and creating a powerful new force in the financial landscape.
Family offices are seen as offering more privacy, more customization and more tailored programs for the next generation of the family.
Persons:
Robert Frank, Rebecca Gooch, It's, Gooch, incentivized, Eric Johnson
Organizations:
Deloitte Private, Deloitte, Henley & Partners, Forbes
Locations:
centimillionaires, North America, Asia, Pacific, North