The report is among a flurry of studies that have been issued by different organisations about the shape of the world's family offices sector – one that has grown rapidly in recent years.

A survey of more than 600 family office professionals around the world shows that most of them – 84 per cent of respondents – have received a bonus, but recruitment is cautious and just over a third (35 per cent) intend to expand teams. Most family offices manage between $501 million and $1 billion in AuM.

The study, from Agreus Group, a consultancy, and KPMG Private Enterprise, part of KPMG, also finds that family offices are becoming more international.

The report – entitled the 2025 Global Family Office Compensation Benchmark Report – is among a number of studies that are issued during the year, from various groups, about the world's family offices sector. To give just two examples, US-based Botoff Consulting recently drilled down into the compensation data for family offices; another example is from BNY.

In 2023, 30 per cent of family offices operated from a second location; by 2025, that number had risen to 44 per cent. This trend reflects not only the increasing mobility of ultra-high net worth families but also a more international approach to governance, operations, and investment strategies.

“Increasingly we are seeing a growing trend in family offices relocating or expanding their operations into multiple jurisdictions,” Greg Limb, KPMG’s global head of family office and private client, said. “This movement is often prompted by the internationalisation and movement of the families they serve and the drive for operational efficiency by utilising key family office centres (e.g. London, Singapore). The increasing number of family offices operating in at least two locations, as identified in the report, reflects this spread.” 

Sophisticated
Family offices are increasingly adopting structures and practices of “sophisticated organisations,” with a growing emphasis on strong governance frameworks and specialised in-house talent.

“The study demonstrates a notably positive economic outlook for family offices, even in the context of recent global instability and economic challenges – a sentiment echoed by all respondents,” Paul Westall, co-founder of Agreus, said. 

As far as challenges are concerned, the report said competition for top talent is intense. 

Governance is also examined.

“The need for stronger governance remains a key focus area, with family offices investing in structures and systems that safeguard long-term sustainability,” it said.

The report also addresses the imbalance of gender representation within family offices, noting that while awareness is rising, there is still meaningful progress to be made in achieving more equitable leadership teams.