AlTi: APAC Leads Creation of New Family Offices
The Asia Pacific region is the leading engine of wealth creation and, thus naturally, also the establishment of new family offices, according to a report by AlTi Tiedemann Global.
More than three-fourths (78 percent) of family offices in the Asia Pacific region were founded in the last 15 years, according to a report by independent wealth manager AlTi Tiedemann Global and family wealth research organization Campden Wealth. This was nearly double the rate of new family offices creation in Europe and North America.
As expected due to its nascency, there is a significantly higher proportion of APAC family offices being led by first generation wealth holders. 80 percent of families in the region also own an operating business and it is common for their family office to be embedded within.
Tech Adoption
In some ways, Asia is a leader in tech adoption with 50 percent of the region’s family offices using artificial intelligence for various applications. At the same time, tech spend is still limited – mostly an annual amount of $100,000 to $500,000 worldwide – with 36 percent in APAC still relying on spreadsheets.
«Asia-Pacific family offices are leading the charge in wealth creation and the adoption of new technologies,» commented Anthonia Hui, head of Singapore, AlTi Tiedemann Global.
«Many are still led by the first generation, which helps explain why formal succession planning often remains underdeveloped – despite growing recognition of succession as a material risk. With families also increasingly looking at the purpose of their wealth, working with the next gen is paramount to ensuring alignment and engagement.»
The AlTi Tiedemann Global and Campden Wealth 2025 Family Office Operational Excellence Report is in its second year and is based on the inner workings of 146 single family offices in North America, Europe and Asia Pacific.
