Over one-quarter (28%) of family offices have multiple branches, according to “Family Office Insights Series – Global Edition: Defining the Family Office Landscape, 2024,” a survey from Deloitte Private.
Whether a family office’s second branch is in the same region or around the globe depends on several factors. Nearly all family offices based in Europe (89%) and North America (88%) that set up second branches do so in the same region — and the percentage of family offices saying they will stay close to home has increased in both those regions since 2018.

Family offices based in Asia Pacific were more likely to set up a secondary office abroad — in North America (38%) or Europe (23%). These figures illustrate how rapidly these family offices are internationalizing: In 2018, just 20% set up secondary offices in North America and 20% in Europe.
There are a number of reasons for family offices to look at global expansion, says Rebecca Gooch, Global Head of Insights with Deloitte Private.
“Families are becoming more globalized — a lot of families are now living in different countries. So, the family office wants to reflect where the family lives. That’s one aspect,” Gooch says.
Another reason is to facilitate the diversification of investment portfolios.
“A lot of family offices are saying, ‘We can see fantastic investment opportunities coming out of Asia, or coming out of different regions or different countries.’ They want to capitalize on that, so they set up branches in those local areas to have better access to deals,” Gooch says.
For family offices based outside the U.S. that want to expand in the U.S., there can be varied motivations, says Eric L. Johnson, Deloitte’s U.S. Family Office Tax Leader.
“Either they’re looking to set up an investment office because of the opportunities and stability of the U.S. investment world, or alternatively, they have family members that have that have a footprint in the U.S. — they’re going to school here, or they’re establishing a residence here, and they need to be able to provide services to those family members,” Johnson says.
U.S.-based family offices that expand into other regions are generally doing it for investment reasons, he says.
“They’re looking to establish on-the-ground relationships in order to provide better access to deal flow,” Johnson says. “And you can’t do that if you’re not there.”
Looking to the future, 12% of family offices plan to set up another branch. Of those, about one-third plan to do so in North America and one-third in Asia Pacific. About one-quarter chose Europe.