The essential sources are the annual reports and surveys. They help FO professionals identify emerging trends in the market, or they serve as a benchmarking tool for industry standards. According to Forbes, there are some leading reports, including the following:
01 Citi Family Office Survey
Over 40 questions on the investment sentiment, portfolio actions, and FO operations of Citi Private Bank make up the content of the 2023 Family Offices Survey report. The 2023 Family Office Survey saw 268 respondents from leading FOs worldwide, representing a total of USD 565 billion in wealth. Are the FOs still interested in direct investing? How are FOs allocating their portfolios? These are only a few questions addressed in the report.
02 Global Family Office Report by UBS
The 2023 edition of the report focuses on 230 of the world’s largest Single-Family Offices and covers a total net worth of USD 495.8 billion, with individual families’ net worth averaging USD 2.2 billion. The covered fields are the biggest shifts in asset allocations for several years, with geopolitics instead of inflation as the top concern or professionalisation beyond investing.
03 Global Family Office Report: Regional Series
Campden Research has been running its series on FO since 2014. Reports are separately focused on three major regions: North America, Asia Pacific, and Europe. In 2022, this world’s leading and most comprehensive study on FOs included 382 participants globally (76 from Asia Pacific, 179 from North America, and 127 from Europe). In addition to rich regional analysis, each report offers an overlay of global data so that family offices can compare themselves to their peers both regionally and worldwide.
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04 Single Family Office Compensation Report
Morgan Stanley’s Single Family Office Advisory Group released its report, which presents survey findings along with trends impacting compensation in FOs. The findings contain responses from over 400 Single-Family Offices, with 77 percent of participant families having a total net worth of over USD 500 million. Reporting data on 1,728 employees, the trusted data is meant to serve as a reference to help shape all-important staffing decisions and strategies for FO clients. And what are the key discoveries? More than half of FOs report recruiting challenges across the board, specifically with accounting, tax, investment, and support roles. Women comprise nearly one-third of executive roles in FOs, and more than three-quarters of FOs report a hybrid workplace, with most staff reporting to the office three days a week.
05 Family Offices Investing in Venture Capital
This 2023 Silicon Valley Bank Capital review is based on an in-depth survey of 139 FOs across 30 countries, as well as 25 interviews with families and venture executives. The report details FO participation in venture capital (VC) and FO views on the future of venture investing. To the key takeaways belong the facts that FO investment in ventures dropped 55% from 2021 to 2020 levels, and the FOs remain bullish on technology and healthcare trends. Furthermore, the FOs are marking down VC portfolios while investing in more established funds.
