Australia in fastest-growing region for family offices

Australia accounts for only a tiny proportion of family offices globally, but the Asia Pacific region is the fastest-growing in terms of family office establishments.

According to a new global report on family offices, Australia and Hong Kong are home to the most family offices in the region.

The Family Office Operational Excellence Report 2025 compiled by UK-based Campden Wealth and AITI Tiedemann Global said the pace of high-net-worth wealth creation is fastest in APAC, noting that 78% of family offices in the region have been founded in the last 15 years.

It said this is nearly double the rate of new family office creation in Europe and North America and helps explain why a significantly higher proportion of family offices in the region are still led by first-generation wealth holders.

“The importance of family business cannot be overstated in Asia-Pacific,” the report said. “80% of families own an operating business which is often the original source of wealth and still a major contributor to it.”

“It’s common for their family offices to be embedded in these businesses and consequently Asia-Pacific families have the smallest per centage of traditional standalone family offices.” The report said.

Unsurprisingly, the report makes clear that family offices are generally larger and longer-established in North America while Europe and the Asia-Pacific are skewed towards smaller family offices.

The survey more broadly found that talent remains the single largest operating expense and a top priority for family offices.

“While more than 80% of family members express satisfaction with their dedicated staff, and three out of four believe that in-house teams deliver the most timely and high-quality results, finding and retaining qualified professionals is increasingly difficult,” the report said.

“The pool of experienced candidates continues to shrink, leaving family offices vulnerable to retirements and departures, with 70% of family offices reporting difficulty hiring, while 65% are concerned about retaining key staff.”

Looking at wealth planning, the report said estate planning in family offices is characterised by close collaboration between in-house staff and external professionals.

“Families also frequently engage with tax accountants and, to a lesser extent, life insurance advisors, reflecting a holistic approach to wealth transfer and protection of assets,” it said.

“There is a strong desire to outsource even more estate planning work due to evolving regulatory environments and a growing focus on formalising governance through well-documented plans.: