A new report by Ocorian, a provider of services to family offices, zeroes in on factors that are likely to change the family office landscape in the coming years. One of these is the transition to a new generation of family and family office leaders.
The report, “Family Offices and the role of third party service providers,” was based on a survey of over 130 single- and multifamily offices. The survey asked a series of questions about how the next generation is shaping investment strategies for family offices. Almost 90% of respondents said they see a natural succession of wealth and leadership in the families they work with, and 86% said members of the next generation are becoming more involved in developing or reviewing investment strategies.
The survey asked those who said the next generation is becoming more involved for details about this hands-on approach. A majority said they see an increased focused (either a dramatic increase or an increase) on several aspects of the investment strategy:
- Long-term sustainability of the family office (86% see either a dramatic increase or an increase)
- ESG consideration (85%)
- Focus on private markets (78%)
- Exposure to digital assets (74%)
- Increased risk appetite (71%)
- Philanthropy (62%)
