According to The 2023 Global Family Office Compensation Benchmark Report from KPMG Private Enterprise and Agreus, a resourcing and recruiting firm that works with family offices, the most common answer is that a family office manages two generations of wealth.
Over two-thirds of family offices globally manage the wealth of just one or two generations of family member. Family offices that manage money for four or more generations are relatively rare:
Percentage of family offices managing wealth of:
- 1 generation: 29%
- 2 generations: 38%
- 3 generations: 22%
- 4 or more generations: 10%
These numbers do not paint an accurate picture of the situation in every part of the world, however. The survey found considerable regional variation in the percentage of family offices managing just one generation’s wealth:
- UK: 44%
- Europe: 37%
- US: 22%
- Asia: 32%
- Australia: 40%
- Middle East: 15%
