JP Morgan Private Bank Global Family Office Report 2026: 333 Family Offices with Average $1.1 Billion AUM & $1.6 Billion Net Worth, Average Cost of Family Office with $500 Million AUM at $2.45 Million Per Year, Top 3 Priorities are Liquid Financial Assets 89%, Estate / Tax Planning 76%, Direct investments 72%, Portfolio Allocation – Public Equities 38.4%, Fixed Income 14.8%, Private Markets 30.8%, Cash 7.8%, Hedge Funds 4.7%, Commodities 1.3%, Arts / Collectibles 1%, Crypto / Digital Assets 0.4%, Top 8 Investment Themes – Artificial Intelligence, Healthcare Innovation, Infrastructure Assets, Cybersecurity, Global Security & Defence, Automation & Robotics, Food & Agricultural Innovation, Smart Mobility, Top 6 Investment Risks – Geopolitics, Liquidity, Trade Policy & Tariffs, Asset Valuations, Economic Growth, Portfolio Concentrations
19th February 2026 | Hong Kong
JP Morgan Private Bank has released the JP Morgan Global Family Office Report 2026, providing key insights of 333 single family offices globally with average $1.1 billion AUM (Assets under Management) & $1.6 billion net worth. Total family offices surveyed – 333. United States – 197 family offices. International – 136 family offices. Average AUM – $1.1 billion. Total AUM – $518 billion. Average Net worth – $1.6 billion. Family Office setup in last 10 years – 52%. Family Office setup more than 10 years ago – 48%. No. of Generations served in family office – 1st generation 13% / 2nd generation 44% / 3rd generation onwards – 44%. Annual average cost of running family office with $500 million AUM – $2.45 million. Annual average cost of running family office with > $1 billion AUM – $6.6 million. Annual average cost of running family office with $501 m to $999 million – $3.2 million. Annual average cost of running family office with $250 m to $500 million – $1.7 million. Annual average cost of running family office with $250 million or less – $875,000. Top 5 Primary Strategic Priorities of Family Office – Liquid financial assets 89%, Estate / tax planning 76%, Direct investments 72%, Financial administration & accounting 71%, Preserving family values, governance & legacy 57%. Top 6 Investment Risks – Geopolitics, Liquidity, Trade Policy & Tariffs, Asset Valuations, Economic Growth, Portfolio Concentrations. Portfolio Allocation – Public Equities 38.4%, Fixed Income 14.8%, Private Markets 30.8%, Cash 7.8%, Hedge Funds 4.7%, Commodities 1.3%, Arts / Collectibles 1%, Crypto / Digital Assets 0.4%. Private Markets Allocation (30.8% of Portfolio) – Private Equity 9.8%, Secondaries 1.1%, Growth Equity & Venture Capital 3.3%, Private Credit 2.4%, Real Estate 7.4%, Infrastructure, Transportation & Real Assets 0.7%, Control-oriented Private Investments 6.1%. Hedge Funds Allocation (4.7% of Portfolio) – Diversified / fund-of-fund 70%, Long / short 74%, Global macro 84%, Relative value / credit 87%, Event-driven 93%. Top 10 increase in allocation in next 12 to 18 months – Private Equity 37%, Europe & UK Equities 33%, Real Estate 30%, Private Credit 29%, Growth Equity & Venture Capital 29%, United States Large-Cap Equities 28%, Secondaries 28%, Infrastructure, Transportation & Real Assets 24%, United States Mid / Small-Cap Equities 21%, Investment Grade Fixed Income 19%. Top 8 Investment Themes – Artificial Intelligence, Healthcare Innovation, Infrastructure Assets, Cybersecurity, Global Security & Defence, Automation & Robotics, Food & Agricultural Innovation, Smart Mobility. International family offices evaluating portfolio in USD – Yes 67% / No 33%. Investment portfolio outsourced or managed / advised by 3rd-party – Yes 80% / No 20%. Top 5 Outsourced Asset Class – United States Public Equities, Private Equity, Fixed Income, International Public Equities, Cash / Liquidity Management. With Investment committee (family & non-family members) – 42%. Executive Roles in family office with CEO / President – 36% to 42%. Executive Roles in family office with Chief Financial Officer – 20% to 32%. Executive Roles in family office with Chief Investment Officer – 24% to 31%. Top 3 outsourced services – Legal services, Trading & market execution, Cybersecurity. Type 3 in-house services – Family office staffing & compensation, Financial administration, Balance sheet aggregation & reporting. Top 3 family office structures / frameworks – Investment committees, Formal investment policy statements, Family office boards of directors. Top 4 Gaps in family office – Legacy, succession & philanthropy 54%, Administration, reporting & operations 49%, Risk management 49%, Financial assets management 36%. Engagement in 1st generation family office – Regular whole family meetings 24%, Family assembly 21%, Written family history or regular family “storytelling” 12%. Engagement in 2 generations family office – Regular whole family meetings 40%, Family assembly 34%, Family retreat 29%. Engagement in 3 or more generations family office – Regular whole family meetings 50%, Family assembly 41%, Family retreat 39%. See below for key findings & summary | View report here
“ JP Morgan Private Bank Global Family Office Report 2026: 333 Family Offices with Average $1.1 Billion AUM & $1.6 Billion Net Worth, Average Cost of Family Office with $500 Million AUM at $2.45 Million Per Year, Top 3 Priorities are Liquid Financial Assets 89%, Estate / Tax Planning 76%, Direct investments 72%, Portfolio Allocation – Public Equities 38.4%, Fixed Income 14.8%, Private Markets 30.8%, Cash 7.8%, Hedge Funds 4.7%, Commodities 1.3%, Arts / Collectibles 1%, Crypto / Digital Assets 0.4%, Top 8 Investment Themes – Artificial Intelligence, Healthcare Innovation, Infrastructure Assets, Cybersecurity, Global Security & Defence, Automation & Robotics, Food & Agricultural Innovation, Smart Mobility, Top 6 Investment Risks – Geopolitics, Liquidity, Trade Policy & Tariffs, Asset Valuations, Economic Growth, Portfolio Concentrations “
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JP Morgan Private Bank Global Family Office Report 2026: 333 Family Offices with Average $1.1 Billion AUM & $1.6 Billion Net Worth, Average Cost of Family Office with $500 Million AUM at $2.45 Million Per Year, Top 3 Priorities are Liquid Financial Assets 89%, Estate / Tax Planning 76%, Direct investments 72%, Portfolio Allocation – Public Equities 38.4%, Fixed Income 14.8%, Private Markets 30.8%, Cash 7.8%, Hedge Funds 4.7%, Commodities 1.3%, Arts / Collectibles 1%, Crypto / Digital Assets 0.4%, Top 8 Investment Themes – Artificial Intelligence, Healthcare Innovation, Infrastructure Assets, Cybersecurity, Global Security & Defence, Automation & Robotics, Food & Agricultural Innovation, Smart Mobility, Top 6 Investment Risks – Geopolitics, Liquidity, Trade Policy & Tariffs, Asset Valuations, Economic Growth, Portfolio Concentrations
JP Morgan has released the JP Morgan Private Bank Global Family Office Report 2026, providing key insights into 333 single family offices globally with average $1.1 billion AUM (Assets under Management) & $1.6 billion net worth. See below for key findings & summary | View report here
JP Morgan Private Bank Global Family Office Report 2026
Summary Profile
- Total family offices surveyed – 333
- United States – 197 family offices
- International – 136 family offices
- Average AUM – $1.1 billion
- Total AUM – $518 billion
- Average Net worth – $1.6 billion
- Family Office setup in last 10 years – 52%
- Family Office setup more than 10 years ago – 48%
- No. of Generations served in family office – 1st generation 13% / 2nd generation 44% / 3rd generation onwards – 44%
- Annual average cost of running family office with $500 million AUM – $2.45 million
- Annual average cost of running family office with > $1 billion AUM – $6.6 million
- Annual average cost of running family office with $501 m to $999 million – $3.2 million
- Annual average cost of running family office with $250 m to $500 million – $1.7 million
- Annual average cost of running family office with $250 million or less – $875,000
- Top 5 Primary Strategic Priorities of Family Office – Liquid financial assets 89%, Estate / tax planning 76%, Direct investments 72%, Financial administration & accounting 71%, Preserving family values, governance & legacy 57%
Investment Summary
- Top 6 Investment Risks – Geopolitics, Liquidity, Trade Policy & Tariffs, Asset Valuations, Economic Growth, Portfolio Concentrations
- Portfolio Allocation – Public Equities 38.4%, Fixed Income 14.8%, Private Markets 30.8%, Cash 7.8%, Hedge Funds 4.7%, Commodities 1.3%, Arts / Collectibles 1%, Crypto / Digital Assets 0.4%
- Private Markets Allocation (30.8% of Portfolio) – Private Equity 9.8%, Secondaries 1.1%, Growth Equity & Venture Capital 3.3%, Private Credit 2.4%, Real Estate 7.4%, Infrastructure, Transportation & Real Assets 0.7%, Control-oriented Private Investments 6.1%
- Hedge Funds Allocation (4.7% of Portfolio) – Diversified / fund-of-fund 70%, Long / short 74%, Global macro 84%, Relative value / credit 87%, Event-driven 93%
- Top 10 increase in allocation in next 12 to 18 months – Private Equity 37%, Europe & UK Equities 33%, Real Estate 30%, Private Credit 29%, Growth Equity & Venture Capital 29%, United States Large-Cap Equities 28%, Secondaries 28%, Infrastructure, Transportation & Real Assets 24%, United States Mid / Small-Cap Equities 21%, Investment Grade Fixed Income 19%
- Top 8 Investment Themes – Artificial Intelligence, Healthcare Innovation, Infrastructure Assets, Cybersecurity, Global Security & Defence, Automation & Robotics, Food & Agricultural Innovation, Smart Mobility
- International family offices evaluating portfolio in USD – Yes 67% / No 33%
- Investment portfolio outsourced or managed / advised by 3rd-party – Yes 80% / No 20%
- Top 5 Outsourced Asset Class – United States Public Equities, Private Equity, Fixed Income, International Public Equities, Cash / Liquidity Management
- With Investment committee (family & non-family members) – 42%
Family Office Summary
- Executive Roles in family office with CEO / President – 36% to 42%
- Executive Roles in family office with Chief Financial Officer – 20% to 32%
Executive Roles in family office with Chief Investment Officer – 24% to 31% - Top 3 outsourced services – Legal services, Trading & market execution, Cybersecurity
Type 3 in-house services – Family office staffing & compensation, Financial administration, Balance sheet aggregation & reporting - Top 3 family office structures / frameworks – Investment committees, Formal investment policy statements, Family office boards of directors
- Top 4 Gaps in family office – Legacy, succession & philanthropy 54%, Administration, reporting & operations 49%, Risk management 49%, Financial assets management 36%
- Engagement in 1st generation family office – Regular whole family meetings 24%, Family assembly 21%, Written family history or regular family “storytelling” 12%
- Engagement in 2 generations family office – Regular whole family meetings 40%, Family assembly 34%, Family retreat 29%
- Engagement in 3 or more generations family office – Regular whole family meetings 50%, Family assembly 41%, Family retreat 39%
JP Morgan Private Bank Global Family Office Report 2026
1) Family Office Survey Profile
Family Office Profile
- Total family offices – 333
- United States – 197 family offices
- International – 136 family offices
- Average AUM – $1.1 billion
- Total AUM – $518 billion
- Average Net worth – $1.6 billion
Geography
- United States – 59%
- EMEA – 16%
- APAC– 11%
- South America – 16%
Family Office AUM (Assets under Management)
- AUM $500 million & below – 57%
- AUM $501 m to $999 million – 16%
- AUM > $1 billion – 28%
Family Office Age:
- Last 5 Years – 29%
- 6 to 10 years – 23%
- 11 to 20 years – 26%
- More than years – 22%
No. of family members:
- 1 to 4 members – 31%
- 5 to 9 members – 30%
- 10 to 14 members – 16%
- 15 to 29 members – 17%
- More than 30 members – 6%
No. of Generations served in family office:
- 1 generation – 13%
- 2 generations – 44%
- 3 or more generations – 44%
No. of Households served in family office:
- 1 household – 25%
- 2 to 3 households – 27%
- 4 households – 12%
- 5 or more households – 36%
2) Portfolio Allocation & Investments in Family Office
Top 6 Investment Risks:
- Geopolitics – 20%
- Liquidity – 12%
- Trade Policy & Tariffs – 12%
- Asset Valuations – 11%
- Economic Growth – 10%
- Portfolio Concentrations – 10%
Family Office Portfolio Allocation:
- Public Equities – 38.4%
- Fixed Income – 14.8%
- Private Markets – 30.8%
- Cash – 7.8%
- Hedge Funds – 4.7%
- Commodities – 1.3%
- Arts / Collectibles – 1%
- Crypto / Digital Assets – 0.4%
- Other – 9%
Private Markets Allocation (30.8% of Portfolio):
- Private Equity – 9.8%
- Secondaries – 1.1%
- Growth Equity & Venture Capital – 3.3%
- Private Credit – 2.4%
- Real Estate – 7.4%
- Infrastructure, Transportation & Real Assets – 0.7%
- Control-oriented Private Investments – 6.1%
Hedge Funds Allocation (4.7% of Portfolio):
- Diversified / fund-of-fund – 70%
- Long / short – 74%
- Global macro – 84%
- Relative value / credit – 87%
- Event-driven – 93%
To increase allocation in next 12 to 18 months:
- Private Equity – 37%
- Europe & UK Equities – 33%
- Real Estate – 30%
- Private Credit – 29%
- Growth Equity & Venture Capital – 29%
- United States Large-Cap Equities – 28%
- Secondaries – 28%
- Infrastructure, Transportation & Real Assets – 24%
- United States Mid / Small-Cap Equities – 21%
- Investment Grade Fixed Income – 19%
Family Office Top Investment Themes:
- Artificial Intelligence – 65%
- Healthcare Innovation – 50%
- Infrastructure Assets – 41%
- Cybersecurity – 35%
- Global Security & Defence – 34%
- Automation & Robotics – 33%
- Food & Agricultural Innovation – 23%
- Smart Mobility – 22%
- Climate Technology & Solutions – 20%
- Crypto & Digital Assets – 17%
- Re-Shoring / On-Shoring 16%
- Sports – 15%
- Space Exploration – 14%
- Water Scarcity – 13%
- Media & Entertainment – 12%
Family offices with No (Zero) allocation in portfolio:
- Crypto / Digital Assets – 89%
- Infrastructure, Transportation & Real Assets – 79%
- Secondaries – 76%
- Gold – 72%
- Private Credit – 58%
- Growth Equity & Venture Capital – 57%
- Emerging Market Equities (Including China) – 53%
- Hedge Funds – 51%
- Real Estate – 40%
- International Developed Market Equities – 37%
International family offices evaluating portfolio in USD:
- Yes – 67%
- No – 33%
Type of Private Investment Allocation:
- Drawdown / closed-end funds – 67%
- Direct company control or minority ownership – 64%
- Direct company control or majority ownership – 49%
- Fund of funds investments – 40%
- Evergreen / open-ended funds – 35%
Investment portfolio outsourced or managed / advised by 3rd-party:
- 100% of portfolio – 5%
- 50.1% to 99.9% of portfolio – 29%
- 0.1% to 50% of portfolio – 47%
- None – 20%
Top 10 Outsourced Asset Class:
- United States Public Equities – 68%
- Private Equity – 66%
- Fixed Income – 62%
- International Public Equities – 56%
- Cash / Liquidity Management – 56%
- Direct Investments – 52%
- Private Credit – 50%
- Real Assets – 48%
- Multi-Asset Portfolio – 47%
- Hedge Funds – 44%
3) Investment Management
Investment Management in family office:
- Investment committee (family and non-family members) – 42%
- Formal investment policy statement – 35%
- External advisors review portfolio periodically – 37%
- Investment committee (family members only) – 22%
- Investment decisions made by CIO who is not a family member – 20%
4) Cost of Running Family Office
Annual average cost of running family office with $500 million AUM – $2.45 million
Average Annual cost of family office by AUM:
- AUM > $1 billion – $6.6 million
- AUM $501 m to $999 million – $3.2 million
- AUM $250 m to $500 million – $1.7 million
- AUM $250 million or less – $875,000
5) Family Office Setup
Executive Roles in family office:
- CEO / President – 36% to 42%
- Chief Financial Officer – 20% to 32%
- Chief Investment Officer – 24% to 31%
- Chief Operating Officer – 15% to 23%
- Chief Legal Officer / General Counsel – 7% to 16%
Role percentage range segmented from family offices setup: in last 5 years, 6 to 10 years, 11 to 20 years, and more than 20 years.
Top 5 Primary Strategic Priorities of Family Office:
- Managing liquid financial assets of the family – 89%
- Structuring & coordinating estate / tax planning – 76%
- Sourcing & managing direct investments – 72%
- Financial administration & accounting – 71%
- Preserving family values, governance & legacy – 57%
Top 3 outsourced services:
- Legal services – 52%
- Trading & market execution – 45%
- Cybersecurity – 38%
Type 3 in-house services:
- Family office staffing & compensation – 72%
- Financial administration – 64%
- Balance sheet aggregation & reporting – 54%
Top 5 Risks to Continuity of Family Office:
- Financial market disruption impacting long-term goals – 46%
- Regulatory / tax / compliance complexity – 38%
- Over reliance on providers or individuals – 33%
- Family conflict or misalignment on strategy / values – 33%
- Lack of succession plan for decision makers – 33%
Top 5 family office structures / frameworks:
- Investment committees – 64%
- Formal investment policy statements – 35%
- Family office boards of directors – 32%
- External advisors who conduct periodic portfolio reviews – 27%
- Family office mission statements or handbook – 26%
Investment Management in family office:
- Investment committee (family and non-family members) – 42%
- Formal investment policy statement – 35%
- External advisors review portfolio periodically – 37%
- Investment committee (family members only) – 22%
- Investment decisions made by CIO who is not a family member – 20%
Governing Boards in family office:
- Board of directors – 32%
- Charitable grants committee – 14%
- Advisory board – 13%
- Distribution committee – 10%
Policies & Processes in family office:
- Family office mission statement / handbook – 26%
- Formal employment policy – 22%
- Defined succession planning process for key roles – 14%
6) Family Office Insights
Top 4 Gaps in family office:
- Legacy, succession & philanthropy – 54%
- Administration, reporting & operations – 49%
- Risk management – 49%
- Financial assets management – 36%
Top 4 Gaps in Legacy, succession & philanthropy:
- Family wealth education – 31%
- Family governance & succession planning – 27%
- Estate planning – 18%
- Matrimonial & family planning – 10%
Top 4 Gaps in Administration, reporting & operations:
- Balance sheet aggregation & reporting services – 19%
- Accounting & taxes – 17%
- Concierge & lifestyle services – 12%
- Family office staffing & compensation – 9%
Top 3 Gaps in Risk management:
- Cybersecurity services – 32%
- Legal services – 16%
- Insurance management – 14%
Top 4 Gaps in Financial assets management:
- Private investments – 22%
- Trading & markets execution – 11%
- Investment banking services – 10%
- Investment management – 10%
7) Next Generation, Succession Planning, Governance
Engagement in 1st generation family office:
- Regular whole family meetings – 24%
- Family assembly – 21%
- Written family history or regular family “storytelling” – 12%
- Family council – 10%
- Family retreat – 7%
- Family constitution – 5%
- Family bank – 5%
- Chief Learning Officer – 2%
Engagement in 2 generations family office:
- Regular whole family meetings – 40%
- Family assembly – 34%
- Family retreat – 29%
- Family council – 26%
- Written family history or regular family “storytelling” – 24%
- Family constitution – 19%
- Family bank – 8%
- Chief Learning Officer – 3%
Engagement in 3 or more generations family office:
- Regular whole family meetings – 50%
- Family assembly – 41%
- Family retreat – 39%
- Written family history or regular family “storytelling” – 39%
- Family constitution – 37%
- Family council – 37%
- Family bank – 14%
- Chief Learning Officer – 7%
Families preparing for next generation:
- Invite younger family members to meet with professional advisors – 39%
- Encourage philanthropic endeavors with the larger family and/or of their own particular interest – 35%
- Invite younger family members to attend family meetings – 29%
- Require professional experience outside the family operating business or family office – 28%
- Encourage entrepreneurial spirit by providing access to capital for startups &/or direct investments – 26%
- Shield individuals from the extent of family’s wealth – 25%
- Develop family wealth education plan for younger family members – 23%
- Involve younger family members in operating business – 23%
- Require younger family members to meet minimum educational standards – 22%
- Involve younger family members in non-voting roles on formal family governance structures – 21%
Family with operating businesses more likely to have:
- Formal governance structures
- Engage with external advisors
- Prioritize family values and legacy preservation
8) Family Office Guide
3 Key Elements for families to maximize chances of continuity & cohesion:
- Establishing a common mission & vision
- Investing in family development (Eg. clear communication, family meetings, family councils, constitutions, protocols)
- Fostering individual growth
5 Best practices for family office engagement:
- Establish a clear sense of purpose and shared vision
- Invest in the development of the family as an organizational system. As businesses invest in team growth and development, so too should families with shared enterprise assets.
- Recognize and manage the inherent tension between individual interests and those of the family as a whole, creating avenues for members to contribute in ways aligned with their talents and passions.
- Develop decision-making frameworks that enable effective collaboration on shared assets and responsibilities.
- Foster a learning community across generations, encouraging knowledge sharing and active engagement beyond top-down guidance.
Family Office Strategic & Operational Planning:
- Cost Management
- Service Model
- Succession Planning
- Staffing Decision
- Risk Management
- Technology & Cyber
JP Morgan Private Bank – J.P. Morgan Private Bank provides customized financial advice to help wealthy clients and their families achieve their goals through an elevated experience. Clients of the Private Bank work with dedicated teams of specialists that bring their investments and financial assets together into one comprehensive strategy, leveraging the global resources of J.P. Morgan across planning, investing, lending, banking, philanthropy, family office management, fiduciary services, special advisory services and more. The Private Bank oversees more than $3.5 trillion in client assets globally (as of 12/31/2025).
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