Family offices is defined as private wealth management advisory firms which provides ultra-high-net-worth- investors. They are differ from traditional wealth management shops in that they provide total outsourced solution to managing the financial and investment of an individual or family.
Rise in frequency of high network individuals is the key driving factor which is expected to boost the global family office market growth. Furthermore, increase in frequency of HNI due to financial services is fulfilled by wealth management firms and by private banks bur these demands are fulfilled by family offices which expected to propel the market growth during this forecast period. Moreover, rise in demand for family offices in developed countries will have the positive impact on market growth.
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However, limited availability of family offices is the major restraining facto which is expected to hinder the global family office market growth.
Global Family Office Market is segmented into product type such as Single Family Office, Multi-Family Office, and Virtual Family Office. Further, market is segmented into services such as Financial Planning, Strategy, Governance, and Advisory.
Also, Global Family Office Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as BNY Mellon Wealth Management, Bessemer Trust, Northern Trust, Bessemer Trust, Citi Private Bank, HSBC Private Bank, Cambridge Associates, Pictet, Stonehage Fleming Family & Partners, and Glenmede
By Product Type
- Single Family Office
- Multi-Family Office
- Virtual Family Office
- Financial Planning
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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