also known as the Square Mile, on January 20, 2017 in London, England. Following the announcement by Britain's Prime Minister Theresa May that Britain will leave the single market, financial organisations such as UBS and Goldman Sachs have reported that they are seriously considering either cutting staff or moving them from London.
This laser focus on the family's best interests, unencumbered by the need to sell products or satisfy external investors, gives family offices a unique edge in the market.The sheer scale of wealth managed by family offices is staggering. Deloitte's report reveals that the total wealth held by families with family offices is expected to reach an eye-watering $9.5 trillion by 2030, more than doubling over the decade.
This long-term perspective allows family offices to weather market volatility and capitalize on opportunities that might be too risky or illiquid for other investors. It also makes them attractive partners for private companies looking for stable, committed investors.The influence of family offices extends far beyond North America. Asia Pacific has emerged as a hotbed of family office activity, with 2,290 family offices today—surpassing Europe's 2,020.