What services do family offices most commonly outsource versus insource? And what are the reasons for these choices?
The “Global Family Office Report 2025” from UBS lists the most likely services to be outsourced:
- Legal services: 71%
- Tax planning: 63%
- Cybersecurity: 55%
It also asked survey respondents which services they do in-house:
- Strategic asset allocation: 86%
- Financial reporting: 75%
- Portfolio risk management: 73%
- Philanthropy: 68%
- Bookkeeping and accounting: 67%
- Portfolio management and administration: 67%
- Succession planning: 57%
The report delves into the reasons for these decisions. At least half of the respondents gave these reasons for performing a service in house instead of outsourcing:
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- Have expertise to perform function in-house: 67%
- Prefer to have operational control over function in-house: 63%
- Protect family’s privacy: 63%
- Be able to customize services: 54%
- More cost effective to do in-house: 52%
- Faster to do in house: 50%
And a majority gave these reasons for choosing to outsource some functions:
- Don’t currently have expertise to perform function in-house: 64%
- Don’t have technical resources to perform function in-house: 56%
- More cost effective to outsource: 56%
