Generational differences are starting to show in family offices

• Global study shows 97% family offices will widen their reach of trusted advisors compared to the founding generation

• 88% of family offices believe that the private client industry needs to improve to better serve its clients

New global research* from Ocorian, the specialist global provider of services to high-net-worth individuals and family offices, financial institutions, asset managers and corporates, reveals the generational differences between family office members are starting to show, with the younger generation planning on widening their reach of trusted advisors compared to the founding generation.

Ocorian’s study among family members, senior family office employees and intermediaries working for family offices with total wealth of $68.26 billion found 96% believe the approach and priorities of the next generation of family members differs from the founding generation, with 28% saying it differs ‘significantly’. Just 3% say there is no difference between the founding and next generation.

Almost all (97%) say the next generation of family members will widen their reach of trusted advisors compared to the founders, with 10% saying that this will widen significantly. At the same time, the majority of family office members (92%) say they are only slightly aware of the full scope of offering provided by the third-party private client service firm that they use.

Despite the planned changes 95% agree that the next generation of family members have strong relationships with the private client professionals that the founding generation already work with. Of these, 64% say they already have strong relationships and 31% say that they are starting to establish strong relationships.

When specifically asking family office members about their relationship with private client service providers, over three quarters (78%) say that they are somewhat involved in decision-making around their wealth, but generally they take the advice of professionals. Just over one in ten (11%) say they are actively involved in managing their wealth and the professionals are there for governance and regulation reasons only. A further 11% are less active, saying they make no day-to-day decisions about their wealth and leave those to their service providers, but instead shape the strategy around their wealth management.

The global study reveals that while family offices are very happy with the quality of their banking intermediaries, with 48% rating them ‘excellent’ and 50% rating them good, they are slightly less happy with their tax advisers and law firms. Just 27% of family offices rated their tax advisers as ‘excellent’, 39% rated them ‘good’, and 29% rated them as ‘above average’. This compares to just 10% of family offices who rated their law firm as ‘excellent’, 47% ‘good’, 30% ‘above average’ and 13% rated them as only ‘average’.

These findings point to some unease among family office members about the service they are receiving. More than half (51%) believe that the private client industry needs to significantly improve to better serve its clients. A further 37% say it needs to slightly improve. Just 12% say there are no further improvements that can be made.

Andrew Ho, Regional Head, Private Clients, APAC at Ocorian said: “With many family offices preparing for or undergoing a succession of wealth, our research shows that the next generation may well decide to do things differently.  It’s a period when many are likely to lean on their professional support more than ever, but at the same time they will also be looking to establish new relationships, strategies and ways of working.”

Jack Koo, Managing Partner and Head of Wealth Management at Merliance Capital, said: “We are seeing first-hand how rising generations are reshaping the advisory landscape. They value continuity, but they also expect broader perspectives, greater transparency and a more collaborative approach from their professional partners. As family offices redefine how they work with advisers, the firms that thrive will be those able to combine long-standing trust with innovation and a truly global view.”

Ocorian’s award winning dedicated family office team provides a seamless and holistic approach to the challenges and opportunities families face. Its service is built on long-term personal relationships that are founded on a deep understanding of what matters to family office clients. Its global presence means Ocorian can provide bespoke structures and services for international families no matter where they live.

Key services include formation and administration of family offices, HR support services, support with lifestyle and luxury assets, family governance, resident and relocation services and specialist support with immigration, visas, payroll, marine and aircraft crew management and financial reporting.

* In June 2025, Ocorian commissioned independent research company PureProfile to interview 200 people in the family office sector including family members, full-time employees of family offices and specialist intermediaries such as lawyers, wealth managers, private bankers and tax advisers working for family offices of UHNW family businesses. The total value of wealth managed or owned by the families was $68.26 billion and respondents were based in the UK, UAE, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius, Bahrain, Bermuda, Cayman, British Virgin Islands and Jersey,

About Ocorian

Ocorian is a global leader in fund services, corporate and trust services, capital markets, and regulatory and compliance support. Ocorian has more than 30 years of experience in fund administration, accounting, investor services and regulated AIFM and depositary solutions and supports managers across all major asset classes of private markets such as private equity, real estate, infrastructure, debt and venture capital. Ocorian manages over 17,000 structures on behalf of 8,000+ clients, including financial institutions, large-scale international organisations, and high-net-worth individuals. To find out more, please visit www.ocorian.com.

About Merliance Capital