61% of North American family offices report that their key concern is cyber-attacks.

Source:  Campden Wealth North America Family Office Report 2023

REPORT

CAMPDEN WEALTH: NORTH AMERICA FAMILY OFFICE REPORT 2023

Highlights include:

• 46% of family offices are planning to implement growth as their primary investment strategy by 2028.
• Data breach / cyber-attack is the most frequently cited concern for family offices, with 61% listing it as a top worry.
• Private markets have become the largest asset class in terms of allocations.
• 92% of respondents agree that successful succession planning involves early introduction of next generations to family values.

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REPORT

CAMPDEN WEALTH: EUROPE FAMILY OFFICE REPORT 2023

Highlights include:

• The two largest asset classes in European family office portfolios are equities and private markets (private equity, venture capital, and private debt) both averaging 28% of AUM.
• An investment committee is the prevalent governance structure found in 85% of European family offices.
• European family offices exhibit a strong commitment to philanthropy - 65% of the surveyed family offices reported making philanthropic donations.
• 51% of respondents cited cybersecurity as their primary concern.

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REPORT

CAMPDEN WEALTH: APAC FAMILY OFFICE REPORT 2023

Highlights include:

• Equities (27%) constitute the largest asset class within the typical APAC family office portfolio.
• Only 49% of family offices have any form of succession plan. 11% have a formal, written plan that is legally enforceable.
• 32% of respondents are actively looking to increase their engagement in artificial intelligence.
• 75% of APAC family offices engage in philanthropic donations.

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TRENDS

KEY CONSIDERATIONS FOR SFOs

Key considerations include creating strategic plans for succession, the use of technology for real-time reporting and streamlined data gathering, investing in private markets, and decision-making based on formal governance structures. (Illias Georgopoulos for WealthManagement.com)

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INSIGHTS

FOCUS AREAS FOR FAMILY OFFICES FROM THE WORLD OF WILLY WONKA

Areas to focus on: Innovation and Creativity, Legacy and Mentorship, Dreams and Aspirations, Imperfection and Managing Conflict, and Social Commentary & The Moral Compass. (Francois Botha for Forbes)

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Asora is a SAAS solution for single and multi-family offices to track and oversee assets, automating data capture and providing digital on-demand reporting on the web and mobile. Time-consuming manual handling of data and report creation are replaced with automated data feeds, comprehensive data cleansing and enrichment and digital on-demand reporting.

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