So think about this, how many Family Offices today that are still running Excel and QuickBooks and there is going to be ~25% growth just in the number of Family Offices by 2030 for North America. Worldwide, ~10,720 Family Offices by 2030!
North America is leading the family office revolution. Family office wealth in North America is expected to grow by 258% between 2019 and 2030, compared with 208% in the Asia-Pacific region. North America’s 3,180 single-family offices are expected to balloon to 4,190 by 2030, accounting for about 40% of the world’s total. Asia-Pacific has about 2,290 family offices today, expected to grow to 3,200 by 2030.
Today there is an incredible change in the realms of technology, family office practice, investment management, cybersecurity, philanthropy, and other areas that have made the operation of a Family Office different than what was required 5, 10, 15 years ago.
Excel and QuickBooks are not specialized business platforms specific to the Family Office business practice. Current and new Family Offices will need to select specialized providers and solutions to develop the right technology package and services to provide a solution to these individuals to focus on themselves and their families for generations to come!
The following article dives into the details of the rise of the shear AUM of family offices and the metrics of growth that are projected up to 2030.
https://www.cnbc.com/2024/09/05/family-offices-hedge-funds-5-trillion-assets.html