Citi Global Family Office Report 2025: 346 Family Offices with Average $2.1 Billion Net Worth & 47% with > $500 Million AUM, Top Family Office Primary Focus – Investment Management, Top 5 Family Office Services – Reporting, Investment Management, Philanthropy, Accounting & Wealth Planning, Top 5 Family Risks – Investment, Operational, Family, Liquidity & Geopolitical, Family Offices with Chief Investment Officer (CIO) Yes 55% / No 45%, Portfolio Allocation – Public Equities 27%, Fixed Income 15%, Cash & Equivalents 13%, Real Estate Direct 12%, Private Equity Funds 11%, Private Equity Direct 9%, Hedge Funds 5%, Private Credit 3%, Real Estate Funds 2%, Art 1%, Commodities 1%, Digital Assets 1%, Top 5 Most Bullish Asset Classes – Global Developed Equities 29%, Hedge Funds 29%, Private Equity Direct 28%, Emerging Market Equities 26%, Private Credit 26%, Top 5 Private Equity Allocation – Growth Equity 28%, Buyout 21%, Venture Capital 19%, Funds of Funds 12%, Secondary 10%, Direct Investments – Yes 70% / No 30%, Top 6 Investment Risks – Trade Disputes / Tariffs, United States / China Relations, Inflation, Interest Rate Evolution, Market Volatility, Stability of Global Financial System
9th October | Hong Kong
Citi has released the Citi Global Family Office Report 2025, providing key insights into 346 family offices with average $2.1 billion net worth (47% with AUM > $500 million). Generation in Control of Wealth – 1st Gen 51%, 2nd Gen 34%, 3rd Gen 15%. Region – North America 41%, Europe, Middle East & Africa (EMEA) 23%, APAC 29%, Latin America 7%. No. of Employees – 1 to 3 employees 39%, 4 to 6 employees 24%, 7 to 9 employees 13%, > 10 employees 24%. Cost of family office – Less than 0.5% of AUM 36%, 0.5% to 1% of AUM 36% > 1% of AUM 15% (0.5% cost equivalent to $500k cost per $100 million AUM, $5 million per $1 billion AUM). Family offices with Chief Investment Officer (CIO) – Yes 55% / No 45%. Family offices with External Investment Advisors – Yes 60% / No 40%. Top 3 External Investment Advisors services – Investment management, Research & Trade execution. Top 3 Family Office Investment decision making – In-house investment professionals 27%, Investment committee 26%, 1 family member 26%. Portfolio Allocation – Public Equities 27%, Fixed Income 15%, Cash & Equivalents 13%, Real Estate Direct 12%, Private Equity Funds 11%, Private Equity Direct 9%, Hedge Funds 5%, Private Credit 3%, Real Estate Funds 2%, Art 1%, Commodities 1%, Digital Assets 1%. Portfolio Allocation (APAC family offices) – Public Equities 32%, Cash & Equivalents 18%, Fixed Income 15%, Private Equity Funds 9%, Real Estate Direct 7%, Private Equity Direct 7%, Hedge Funds 4%, Private Credit 3%, Real Estate Funds 2%, Commodities 1%. Portfolio Allocation to Region – North America 60%, Europe 17%, APAC ex-China 13%, China 5%, Latin America 3%, Africa & Middle East 2%. Portfolio Allocation to Region (APAC family offices) – North America 41%, Europe 7%, APAC ex-China 38%, China 14%, Africa & Middle East 0%. Top 5 Increased Asset Allocation (Global) – Private Equity 36%, Public Equity 34%, Fixed Income 32%, Cash 32%, Real Estate 25%. Top 5 Most Bullish asset classes in next 12 months – Global Developed Equities 29%, Hedge Funds 29%, Private Equity Direct 28%, Emerging Market Equities 26%, Private Credit 26%. Top 5 Private equity allocation – Growth Equity 28%, Buyout 21%, Venture Capital 19%, Funds of Funds 12%, Secondary 10%. Direct Investments – Yes 70% / No 30%. Direct Investments Stage Preference – Growth (Series C / D) 52%, Early stage (Series A / B) 37%, Secondary transactions 30%. Have Controlling Stakes in operating businesses – Yes 76%, No 24%. Preferred EBITDA for potential acquisitions – Less than $5 million 31%, $5 m to $25 million 41%, $25 m to $75 million 20%, > $75 million 9%. Concentrated Positions in Public or Private Companies – Yes 68% / No 31%. Portfolio Value Change in 2025 YTD (June) – 59% with Increased 0% to +10% return, 20% with +10% to 20% return. Top 6 Investment Risks – Trade Disputes / Tariffs, United States / China Relations, Inflation, Interest Rate Evolution, Market Volatility, Stability of Global Financial System. Art Advisor for Art Collection – Yes 16% / No 75% / Considering 9%. Digital Assets investments – Yes 18% / No 69% / Considering 13%. Top 2 Preferred Digital Assets investments – Crypto-linked investment funds 29%, Direct cryptocurrencies 25%. Sustainable Investments allocation in next 5 years – Likely 52% / Not likely 48%. Top 2 Philanthropy changes in next 5 years – Engaging younger generations in leadership positions 68%, Changing or adding programmatic focus areas of interest 30%. Top 5 Family Office Primary Focus – Investment Management 92%, Accounting, reporting, tax, admin services 62%, Fostering family unity & continuity 33%, Philanthropy 21%, Lifestyle management 18%. Top 5 Family Office Services – Reporting, Investment Management, Philanthropy, Accounting, Wealth Planning. Top 4 Family Decision-Making Process – Investment function, Family, Family office beyond investing, Philanthropic activities. Family assets held in multiple countries – 57%. Family members with different citizenships or residences – 49%. Top 3 Family Primary Concern – Preserving value of assets, Preparing next generation to be responsible wealth owners, Ensuring shared goals & vision for future together. Top 4 Family office primary challenges – Needs & expectations of family members, Changing market conditions, Costs, Talent. Top 4 Family Office Setup – Family office separate from family business, Annual review for employees, Annual budgeting process, Clear processes & internal controls. Top 3 Metrics for Family Offices – Investment performance relative to benchmarks, Discretionary assessment, Management of family office costs. Top 5 Family Risks – Investment, Operational, Family, Liquidity, Geopolitical. Top 4 Family Risks that are managed well – Reputation, Liquidity, Investment, Operational. Top 4 Opportunities for next generation – Education about family wealth, Mentoring, Professional experience outside of family enterprise, Professional experience in family enterprise. Top 3 Gaps in family office services & needs – Next generation preparedness, Family unity & continuity, Family education. Top 3 Priorities for technology adoption in family office – Investment management & data analytics platform, Consolidated reporting, Cybersecurity & data protection. Top 3 Challenges for technology adoption in family office – Internal expertise, Awareness of options, Cybersecurity / privacy. See below for key summary & findings | View report here
“ Citi Global Family Office Report 2025: 346 Family Offices with Average $2.1 Billion Net Worth & 47% with > $500 Million AUM, Top Family Office Primary Focus – Investment Management, Top 5 Family Office Services – Reporting, Investment Management, Philanthropy, Accounting & Wealth Planning, Top 5 Family Risks – Investment, Operational, Family, Liquidity & Geopolitical, Family Offices with Chief Investment Officer (CIO) Yes 55% / No 45%, Portfolio Allocation – Public Equities 27%, Fixed Income 15%, Cash & Equivalents 13%, Real Estate Direct 12%, Private Equity Funds 11%, Private Equity Direct 9%, Hedge Funds 5%, Private Credit 3%, Real Estate Funds 2%, Art 1%, Commodities 1%, Digital Assets 1%, Top 5 Most Bullish Asset Classes – Global Developed Equities 29%, Hedge Funds 29%, Private Equity Direct 28%, Emerging Market Equities 26%, Private Credit 26%, Top 5 Private Equity Allocation – Growth Equity 28%, Buyout 21%, Venture Capital 19%, Funds of Funds 12%, Secondary 10%, Direct Investments – Yes 70% / No 30%, Top 6 Investment Risks – Trade Disputes / Tariffs, United States / China Relations, Inflation, Interest Rate Evolution, Market Volatility, Stability of Global Financial System “
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Citi Global Family Office Report 2025: 346 Family Offices with Average $2.1 Billion Net Worth & 47% with > $500 Million AUM, Top Family Office Primary Focus – Investment Management, Top 5 Family Office Services – Reporting, Investment Management, Philanthropy, Accounting & Wealth Planning, Top 5 Family Risks – Investment, Operational, Family, Liquidity & Geopolitical, Family Offices with Chief Investment Officer (CIO) Yes 55% / No 45%, Portfolio Allocation – Public Equities 27%, Fixed Income 15%, Cash & Equivalents 13%, Real Estate Direct 12%, Private Equity Funds 11%, Private Equity Direct 9%, Hedge Funds 5%, Private Credit 3%, Real Estate Funds 2%, Art 1%, Commodities 1%, Digital Assets 1%, Top 5 Most Bullish Asset Classes – Global Developed Equities 29%, Hedge Funds 29%, Private Equity Direct 28%, Emerging Market Equities 26%, Private Credit 26%, Top 5 Private Equity Allocation – Growth Equity 28%, Buyout 21%, Venture Capital 19%, Funds of Funds 12%, Secondary 10%, Direct Investments – Yes 70% / No 30%, Top 6 Investment Risks – Trade Disputes / Tariffs, United States / China Relations, Inflation, Interest Rate Evolution, Market Volatility, Stability of Global Financial System
Citi has released the Citi Global Family Office Report 2025, providing key insights into 346 family offices with average $2.1 billion net worth (47% with AUM > $500 million). See below for key summary & findings | View report here
Citi Global Family Office Report 2025
Summary – Profile
- No. Family Offices in Survey – 346
- Below $500 million AUM – 53%
- More than $500 million AUM – 47%
- Average Net Worth – $2.1 billion
- Generation in Control of Wealth – 1st Gen 51%, 2nd Gen 34%, 3rd Gen 15%
- Region – North America 41%, Europe, Middle East & Africa (EMEA) 23%, APAC 29%, Latin America 7%
- No. of Employees – 1 to 3 employees 39%, 4 to 6 employees 24%, 7 to 9 employees 13%, > 10 employees 24%
- Cost of family office – Less than 0.5% of AUM 36%, 0.5% to 1% of AUM 36% > 1% of AUM 15% (0.5% cost equivalent to $500k cost per $100 million AUM, $5 million per $1 billion AUM)
Summary – Investment
- Family offices with Chief Investment Officer (CIO) – Yes 55% / No 45%
- Family offices with External Investment Advisors – Yes 60% / No 40%
- Top 3 External Investment Advisors services – Investment management, Research & Trade execution
- Top 3 Family Office Investment decision making – In-house investment professionals 27%, Investment committee 26%, 1 family member 26%
- Portfolio Allocation – Public Equities 27%, Fixed Income 15%, Cash & Equivalents 13%, Real Estate Direct 12%, Private Equity Funds 11%, Private Equity Direct 9%, Hedge Funds 5%, Private Credit 3%, Real Estate Funds 2%, Art 1%, Commodities 1%, Digital Assets 1%
- Portfolio Allocation (APAC family offices) – Public Equities 32%, Cash & Equivalents 18%, Fixed Income 15%, Private Equity Funds 9%, Real Estate Direct 7%, Private Equity Direct 7%, Hedge Funds 4%, Private Credit 3%, Real Estate Funds 2%, Commodities 1%
- Portfolio Allocation to Region – North America 60%, Europe 17%, APAC ex-China 13%, China 5%, Latin America 3%, Africa & Middle East 2%
- Portfolio Allocation to Region (APAC family offices) – North America 41%, Europe 7%, APAC ex-China 38%, China 14%, Africa & Middle East 0%
- Top 5 Increased Asset Allocation (Global) – Private Equity 36%, Public Equity 34%, Fixed Income 32%, Cash 32%, Real Estate 25%
- Top 5 Most Bullish asset classes in next 12 months – Global Developed Equities 29%, Hedge Funds 29%, Private Equity Direct 28%, Emerging Market Equities 26%, Private Credit 26%
- Top 5 Private equity allocation – Growth Equity 28%, Buyout 21%, Venture Capital 19%, Funds of Funds 12%, Secondary 10%
- Direct Investments – Yes 70% / No 30%
- Direct Investments Stage Preference – Growth (Series C / D) 52%, Early stage (Series A / B) 37%, Secondary transactions 30%
- Have Controlling Stakes in operating businesses – Yes 76%, No 24%
- Preferred EBITDA for potential acquisitions – Less than $5 million 31%, $5 m to $25 million 41%, $25 m to $75 million 20%, > $75 million 9%
- Concentrated Positions in Public or Private Companies – Yes 68% / No 31%
- Portfolio Value Change in 2025 YTD (June) – 59% with Increased 0% to +10% return, 20% with +10% to 20% return
- Top 6 Investment Risks – Trade Disputes / Tariffs, United States / China Relations, Inflation, Interest Rate Evolution, Market Volatility, Stability of Global Financial System
- Art Advisor for Art Collection – Yes 16% / No 75% / Considering 9%
- Digital Assets investments – Yes 18% / No 69% / Considering 13%
- Top 2 Preferred Digital Assets investments – Crypto-linked investment funds 29%, Direct cryptocurrencies 25%
- Sustainable Investments allocation in next 5 years – Likely 52% / Not likely 48%
- Top 2 Philanthropy changes in next 5 years – Engaging younger generations in leadership positions 68%, Changing or adding programmatic focus areas of interest 30%
Summary – Family Office
- Top 5 Family Office Primary Focus – Investment Management 92%, Accounting, reporting, tax, admin services 62%, Fostering family unity & continuity 33%, Philanthropy 21%, Lifestyle management 18%
- Top 5 Family Office Services – Reporting, Investment Management, Philanthropy, Accounting, Wealth Planning
- Top 4 Family Decision-Making Process – Investment function, Family, Family office beyond investing, Philanthropic activities
- Family assets held in multiple countries – 57%
- Family members with different citizenships or residences – 49%
- Top 3 Family Primary Concerns – Preserving value of assets, Preparing next generation to be responsible wealth owners, Ensuring shared goals & vision for future together
- Top 4 Family office primary challenges – Needs & expectations of family members, Changing market conditions, Costs, Talent
- Top 4 Family Office Setup – Family office separate from family business, Annual review for employees, Annual budgeting process, Clear processes & internal controls
- Top 3 Metrics for Family Offices – Investment performance relative to benchmarks, Discretionary assessment, Management of family office costs
- Top 5 Family Risks – Investment, Operational, Family, Liquidity, Geopolitical
- Top 4 Family Risks that are managed well – Reputation, Liquidity, Investment, Operational
- Top 4 Opportunities for next generation – Education about family wealth, Mentoring, Professional experience outside of family enterprise, Professional experience in family enterprise
- Top 3 Gaps in family office services & needs – Next generation preparedness, Family unity & continuity, Family education
- Top 3 Priorities for technology adoption in family office – Investment management & data analytics platform, Consolidated reporting, Cybersecurity & data protection
- Top 3 Challenges for technology adoption in family office – Internal expertise, Awareness of options, Cybersecurity / privacy
Citi Global Family Office Report 2025
1) Family Office Profile
Profile:
- No. Family Offices in Survey – 346
- Below $500 million AUM – 53%
- More than $500 million AUM – 47%
- Average Net Worth – $2.1 billion
Region:
- North America – 41%
- Europe, Middle East & Africa (EMEA) – 23%
- APAC – 29%
- Latin America – 7%
Generation in Control of Wealth:
- 1st Gen – 51%
- 2nd Gen – 34%
- 3rd Gen – 15%
No. of Employees:
- 1 to 3 employees – 39%
- 4 to 6 employees – 24%
- 7 to 9 employees – 13%
- More than 10 employees – 24%
Cost of family office:
- Less than 0.5% of AUM – 36% of family office
- 0.5% to 0.75% of AUM – 22%
- 0.75% to 1% of AUM – 14%
- 1% to 1.25% of AUM – 7%
- 1.5% to 1.75% of AUM – 1%
- More than 2% of AUM – 7%
Notes
- 0.5% equivalent to $500k cost per $100 million AUM, $5 million per $1 billion AUM
- 0.75% equivalent to $750k cost per $100 million AUM or $7.5 million per $1 billion AUM
- 1% equivalent to $1 million cost per $100 million AUM or $10 million per $1 billion AUM
2) Family Office Investment Team
Family offices with Chief Investment Officer (CIO):
- Yes – 55%
- No – 45%
Family offices with External Investment Advisors:
- Yes – 60%
- No – 40%
Top 7 External Investment Advisors services:
- Investment management – 73%
- Research – 57%
- Trade execution – 51%
- Asset allocation – 46%
- Performance analysis & reporting – 43%
- Due diligence & access to managers – 41%
- Risk analysis & reporting – 32%
Top 5 Family Office Investment decision making:
- In-house investment professionals – 27%
- Investment committee – 26%
- 1 family member – 26%
- A few family members (Informal) – 16%
- External investment advisors – 4%
- Other – 1%
Professionalization of Investment function:
- Periodic review – 76%
- Due diligence – 54%
- Investment committee – 53%
- Investment policy statement (IPS) – 45%
- 3rd party software – 43%
- Risk management – 42%
3) Family Office – Portfolio Asset Allocation
Portfolio Allocation (Global):
- Public Equities – 27%
- Fixed Income – 15%
- Cash & Equivalents – 13%
- Real Estate Direct – 12%
- Private Equity Funds – 11%
- Private Equity Direct – 9%
- Hedge Funds – 5%
- Private Credit – 3%
- Real Estate Funds – 2%
- Art – 1%
- Commodities – 1%
- Digital Assets – 1%
- Other – 1%
Portfolio Allocation (APAC family offices):
- Public Equities – 32%
- Cash & Equivalents – 18%
- Fixed Income – 15%
- Private Equity Funds – 9%
- Real Estate Direct – 7%
- Private Equity Direct – 7%
- Hedge Funds – 4%
- Private Credit – 3%
- Real Estate Funds – 2%
- Commodities – 1%
- Art – 0%
- Digital Assets – 0%
- Other – 2%
Portfolio Allocation to Region:
- North America – 60%
- Europe – 17%
- APAC ex-China – 13%
- China – 5%
- Latin America – 3%
- Africa & Middle East – 2%
Portfolio Allocation to Region (APAC family offices):
- North America – 41%
- Europe – 7%
- APAC ex-China – 38%
- China – 14%
- Latin America – 0%
- Africa & Middle East – 0%
Top 5 Increased Asset Allocation (Global)
- Private Equity – 36%
- Public Equity – 34%
- Fixed Income – 32%
- Cash – 32%
- Real Estate – 25%
Top 5 Increased Asset Allocation (APAC family offices)
- Public Equity – 40%
- Fixed Income – 38%
- Private Equity – 35%
- Cash – 35%
- Real Estate – 19%
Most Bullish asset classes in next 12 months:
- Global Developed Equities – 29%
- Hedge Funds – 29%
- Private Equity Direct – 28%
- Emerging Market Equities – 26%
- Private Credit – 26%
- Private Equity Funds / Fund of Funds – 24%
- Commodities – 22%
- Real Estate – 22%
- Cash – 20%
- Digital Assets – 18%
- Global Developed Investment Grade Fixed Income – 17%
- Global Developed Corporate High Yield Fixed Income – 15%
- Emerging Market Fixed Income – 11%
- Art – 7%
4) Private Equity / Direct Investments
Private equity allocation (Global):
- Growth Equity – 28%
- Buyout – 21%
- Venture Capital – 19%
- Funds of Funds – 12%
- Secondary – 10%
- Mezzanine – 5%
- Distressed – 4%
- Hybrid – 2%
Private equity allocation (APAC):
- Growth Equity – 30%
- Buyout – 19%
- Venture Capital – 13%
- Funds of Funds – 14%
- Secondary – 10%
- Mezzanine – 7%
- Distressed – 6%
- Hybrid – 2%
Direct Investments:
- Yes – 70%
- No – 30%
Changes in Direct Investments:
- Increased significantly – 10%
- Increased – 30%
- Same – 41%
- Decreased – 14%
- Decreased significantly – 6%
Direct Investments Stage Preference:
- Growth (Series C / D) – 52%
- Early stage (Series A / B) – 37%
- Secondary transactions – 30%
- Pre-IPO – 22%
- Startup / Incubation / Seed funding – 20%
- Leveraged buyouts – 14%
Have Controlling Stakes in operating businesses:
- Yes – 76%
- No – 24%
Preferred EBITDA for potential acquisitions:
- Less than $5 million – 31%
- $5 m to $25 million – 41%
- $25 m to $75 million – 20%
- More than $75 million – 9%
5) Family Office – Public & Private Companies
Concentrated Positions in Public or Private Companies:
- Yes – 68%
- No – 31%
Strategies to consider to manage risks (Concentrated Positions in Public or Private Companies):
- None – 70%
- Selling outright – 10%
- Put options or hedges – 10%
- Other – 8%
- Covered calls – 6%
- Enhanced selling strategies such as decumulators – 5%
- Collars or variable prepaid forwards – 4%
Using leverage:
- None – 50%
- Less than 10% leverage – 25%
- 10% to 20% leverage – 10%
- 20% to 30% leverage – 7%
- More than 30% leverage – 8%
To use financing in next 12 months:
- No – 46%
- Real estate – 28%
- Private equity limited partner investments – 24%
- Operating businesses – 18%
- Concentrated equity position – 12%
- Other – 8%
- Art – 2%
6) Family Office Portfolio Returns
Portfolio Value Change in 2025 YTD (June):
- Increased by >20% – 5%
- Increased 10% to 20% – 20%
- Increased 0% to 10% – 59%
- No change – 10%
- Decreased 0% to 10% – 4%
- Decreased 10% to 20% – 1%
- Decreased by >20% – 1%
Expected Portfolio Return for next 12 months:
- More than 15% return – 8%
- 10% to 15% return – 30%
- 5% to 10% return – 45%
- 0% to 5% return – 14%
- Flat – 2%
- 0% to 5% losses – 1%
- 5% to 10% losses – 1%
7) Family Office – Investment Outlook
Top 9 Investment Risks:
- Trade Disputes / Tariffs – 60%
- United States / China Relations – 43%
- Inflation – 37%
- Interest Rate Evolution – 30%
- Market Volatility – 30%
- Stability of Global Financial System – 29%
- Currency Risk – 15%
- Middle East Conflict – 14%
- Russia Ukraine War – 9%
Response to 2025 April market volatility & United States tariffs:
- Active Management – 39%
- No Action – 37%
- Defensive Asset Classes – 25%
- Defensive Geographies – 15%
- Hedging Strategies – 14%
- Defensive Sectors – 13%
- Others – 7%
8) Family Office – Art, Digital Assets,Sustainable Investment, Philanthropy
Art Advisor for Art Collection:
- Yes – 16%
- No – 75%
- Considering – 9%
Digital Assets investments:
- Invested > 10% of investible assets – 1%
- Invested 5% to 10% of investible assets – 2%
- Invested < 5% of investible assets – 15%
- Considering – 13%
- Not priority / No interest – 69%
Preferred Digital Assets investments:
- Undecided – 58%
- Crypto-linked investment funds – 29%
- Direct cryptocurrencies – 25%
- Tokenized securities – 6%
- Stablecoins – 4%
- Crypto-linked derivatives – 4%
- Digital art / collectibles / NFTs – 4%
Sustainable Investments allocation in next 5 years:
- Likely – 52%
- Not likely – 48%
Top Challenges for Sustainable Investments:
- Limited availability of investment opportunities with competitive returns – 28%
- Unsure how to transform sustainability objectives into investment strategy – 24%
- Lack of compelling investment opportunities that reflect sustainability aims – 20%
- Concern over greenwashing claims – 14%
- Need data or reporting to support investment thesis – 13%
- Differing internal views – 10%
- Need for sustainable investing roadmap to guide investment decisions – 8%
- Other – 8%
- None of the above – 37%
Philanthropy changes in next 5 years:
- Engaging younger generations in leadership positions – 68%
- Changing or adding programmatic focus areas of interest – 30%
- Granting to organisations outside of home country or region – 16%
- Shirting investment practices towards achieving positive social impact – 14%
- Sunsetting the philanthropic operations – 9%
Use Philanthropic assets for cataylic capital
- Not a consideration – 66%
- Scaling commercial projects that generate social impact to facilitate growth – 21%
- Seed funding for startups to generate social impact that will become commercial – 16%
- Sustaining organizations that will never generate market returns – 15%
- Success payments for positive outcome on impact-linked bonds issued capital markets – 4%
9) Family Office Insights
Family Office Primary Focus:
- Investment Management – 92%
- Accounting, reporting, tax, admin services – 62%
- Fostering family unity & continuity – 33%
- Philanthropy – 21%
- Lifestyle management – 18%
Family Office Services (Internal):
- Reporting – 63%
- Investment Management – 60%
- Philanthropy – 55%
- Accounting – 52%
- Wealth Planning – 48%
- Lifestyle Management – 43%
- Family Education – 36%
- Trusteeship – 25%
- Tax – 23%
- Insurance Management – 16%
- Cybersecurity – 16%
- Legal Services – 11%
APAC Family Office Services (Internal):
- Reporting – 52%
- Investment Management – 66%
- Philanthropy – 35%
- Accounting – 48%
- Wealth Planning – 45%
- Lifestyle Management – 40%
- Family Education – 29%
- Trusteeship – 23%
- Tax – 34%
- Insurance Management – 15%
- Cybersecurity – 17%
- Legal Services – 17%
10) Family Office Setup
Family Decision-Making Process:
- Investment function – 67%
- Family – 43%
- Family office beyond investing – 40%
- Philanthropic activities – 38%
Family Worldwide:
- Assets held in multiple countries – 57%
- Family members with different citizenships or residences – 49%
- Not international – 32%
- Family members moving to different country or changing citizenship in near-term – 22%
- Planning to move assets to other countries – 12%
Top Family Primary Concern:
- Preserving value of assets – 70%
- Preparing next generation to be responsible wealth owners – 62%
- Ensuring shared goals & vision for future together – 43%
- Managing leadership transitions – 29%
- Strengthening family governance – 25%
- Managing family spending – 17%
- Enhancing philanthropic impact – 15%
Top Family office primary challenges:
- Needs & expectations of family members – 54%
- Changing market conditions – 50%
- Costs – 33%
- Talent – 31%
- Technology solutions – 29%
- Regulatory compliance – 27%
- Confidentiality & privacy – 16%
- Networking with peers – 13%
Family Office Setup:
- Family office separate from family business – 72%
- Annual review for employees – 64%
- Annual budgeting process – 63%
- Clear processes & internal controls – 62%
- Job descriptions for employees – 55%
- Strategic plan – 53%
- Governing board – 49%
- Cybersecurity controls – 42%
- Risk management plan – 42%
- Client service agreement – 31%
- Leadership succession plan – 26%
Family Office Process:
- Secure online access to financial information – 56%
- Document management system – 48%
- Cost / benefit analysis to optimize outsourcing decisions – 39%
- Documented client service agreements – 39%
- Documented client goals – 37%
- State-of-the-art financial reporting tools – 37%
- Disaster recovery plan – 33%
Metrics for Family Offices:
- Investment performance relative to benchmarks – 65%
- Discretionary assessment – 59%
- Management of family office costs – 58%
- Performance relative to non-investment annual goals – 45%
- Client satisfaction surveys – 14%
Family Governance:
- Family meetings / retreats – 48%
- Family assembly – 26%
- Family leadership succession plan – 26%
- Family committees – 25%
- Family constitution or charter – 24%
- Family education program – 22%
- Family council – 21%
Top 10 Family Risks:
- Investment – 70%
- Operational – 37%
- Family – 33%
- Liquidity – 31%
- Geopolitical – 31%
- Legal & regulatory – 28%
- Economic – 25%
- Reputation – 22%
- Cybersecurity – 18%
- Personal security – 17%
Top 10 Top Family Risks that are managed well:
- Reputation – 84%
- Liquidity – 81%
- Investment – 83%
- Operational – 81%
- Legal & regulatory – 76%
- Economic – 74%
- Family – 66%
- Personal security – 56%
- Geopolitical – 55%
- Cybersecurity – 48%
Opportunities for next generation:
- Education about family wealth – 65%
- Mentoring – 48%
- Professional experience outside of family enterprise – 45%
- Professional experience in family enterprise – 39%
- Philanthropic activities – 25%
- Capital for entrepreneurial ventures – 21%
- Capital for direct investing – 16%
Top 8 Gaps in family office services & needs:
- Next generation preparedness – 58%
- Family unity & continuity – 38%
- Family education – 36%
- Investment performance – 31%
- Cybersecurity – 23%
- None – 17%
- Philanthropic impact – 12%
- Sustainability impact – 10%
Top Priorities for technology adoption in family office:
- Investment management & data analytics platform – 50%
- Consolidated reporting – 39%
- Cybersecurity & data protection – 37%
- AI & machine learning – 28%
- Document & record management – 24%
- Accounting – 24%
- Family member education tools – 18%
- Active trading – 10%
- Alternatives investment management – 10%
- CRM – 3%
- Procurement & vendor management – 1%
- None – 9%
Top 7 Challenges for technology adoption in family office:
- Internal expertise – 57%
- Awareness of options – 34%
- Cybersecurity / privacy – 28%
- Uncertainty on ROI (Return on Investment) – 25%
- Budget constraint – 22%
- Difficulty integrating legacy systems – 18%
- Family members resistance – 17%
- None – 16%
Family Office Using Generative AI:
- Automation of some operational tasks – 22%
- Investment analysis or forecasting – 22%
- Family presentations – 17%
- Investment performance reporting – 16%
- Portfolio construction or optimization – 13%
- Risk management, legal or compliance – 10%
Citi Global Family Office Report 2025
The Survey – This year’s survey was initiated during Citi Wealth’s tenth annual Family Office Leadership Summit in June 2025. The event was attended by over 150 family office leaders from more than 25 countries, with an average family net worth of $3.8 billion. The 56-question survey was subsequently opened to the wider population of family office clients globally.
Global Family Office Group – Citi Wealth’s Global Family Office Group serves single family offices, private investment companies and private holding companies, including family-owned enterprises and foundations, around the world. The team offers clients comprehensive private banking and advisory services, institutional access to global opportunities and connections to a community of like-minded peers.
Citi – Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Caproasia Users
- Manage $20 million to $30 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2026 Investment Day
- March - Hong Kong
- March - Singapore
- April - Hong Kong
- April - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
