Why are the world's wealthiest families flocking to family offices?

Oct. 8, 2024 - Quartz

In This Story CThe wealthiest families in the world are increasingly investing their portfolios into risk assets rather than cash, a recent survey of more than 338 family offices revealed. Forty-three percent upped exposure to public and private equity,” Citi Private Bank’s (C) 2024 Global Family Office Report read.

When I look at these sophisticated family offices and what they’re looking forward to, they expect it to be another bullish year in the markets.”AdvertisementAs the number of ultra-wealthy people in the world increases, so do family offices.

While family offices are increasingly common, experts note it can be challenging to define exactly what they are or how they function. He noted that family offices deal with a number of concerns —including financial investments, philanthropy, and art collecting.

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