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Dublin, Feb. 01, 2022 (GLOBE NEWSWIRE) — The “Family Office Market – Global Outlook & Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The demand for an alternative asset class which includes hedge funds and private equity shares is expected to grow with a share of 49.96% during the forecast period 2020-2026 and is expected to surge at a growth rate of 6.90%.
The growing number of UHNWIs (private wealth advisory firms) are driving the demand for family office services. Today, wealthy families rely on family offices to manage their wealth as they hold fragile trust in private banks and increasingly prefer family offices.
However, the business encounters many regulatory, technological, and operational challenges that are expected to hamper the market’s growth. Direct investments are stand-alone investments and have good returns compared to private equity.
More than 65% of high-net-worth individuals invest their funds through direct investments. It helps the market grow diverse across the globe and allows them to leverage their investments.
SEGMENTATION ANALYSIS
Due to the growing technology and digital services, family offices provide services digitally such as a virtual family office. VFO can either be a single office where the family looks forwards to the out-source of a family office in order to have low staff and high flexibility.
MFO demand offers greater opportunities for career development, and exposure to various planning situations can foster the development and sharing of best practices with all clients, which can collectively improve results and outcomes in the market.
Embedded family office markets are highly operated in India as Indians believe their financial conversations are confidential and prefer close advisors to manage their wealth. Thereby, expecting a boom in the number of embedded offices with an increase in entrepreneurs …
Full story available on Benzinga.com
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