Geopolitical issues are causing rifts over investments in family offices

• Succession planning and moving assets to new jurisdictions are the biggest sources of disagreements

• Global study shows US tariffs have increased volatility and losses for family offices and accelerated a switch in allocations to private markets

Current geopolitical issues including the polices of the US administration are causing disagreements over investment policies among family members and fund managers to family offices, 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, shows.

Ocorian’s study among family members, senior family office employees and intermediaries working for family offices with total wealth of $68.26 billion found almost all (99%) family members say there has been a rise in disagreements about managing investments and family wealth.

That drops slightly to 91% among family office employees with 6% even saying there has been no increase in disagreements over investment policy and 3% not expressing an opinion.

The two groups questioned in the study across 13 countries or territories including the UK, UAE, Singapore, Switzerland, Hong Kong, South Africa, Saudi Arabia, Mauritius and Bahrain are split about what the biggest source of disagreement is.

Around three out of four (77%) of family office investment managers identified the issue of moving investments to new jurisdictions or ones that are regarded as more stable, while for family members succession planning was identified by 84% as the main source of disagreement.

Up to 73% of family office investment managers pointed to succession planning as a reason for disputes while nearly three out of four (72%) family members said moving investments to new jurisdictions or ones that are regarded as more stable was a major source of disagreements.

Up to 60% of family office investment managers say volatility has increased as result of Trump’s tariffs while 58% say their family office’s investments have suffered significant losses. More than two out of five (42%) say tariffs have cut their family office's appetite for risk while 44% say tariffs have had an impact on their investment strategies.

They are taking action as a result – 79% have moved or are moving allocations to private markets from fixed income and equities while 37% have moved or are moving from equities to fixed income. Around a third (32%) have moved or are moving more into digital assets which have been championed by the Trump administration.

The table below shows the differing views of family members and family office investment managers on what is causing disagreements in the current geopolitical environment.

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Simona Watkis, Head of Private Client – Cayman, at Ocorian said “Family offices today are navigating much more than investment strategies. With ongoing geopolitical tensions and constant regulatory shifts across jurisdictions, it's natural for there to be disagreements, especially when multiple generations are involved. The scale of these disagreements can be surprising, and I’ve seen first-hand how easily investment philosophies or succession plans can become points of friction.

“Coming from the Caribbean, I understand the deep value placed on legacy, family harmony, and respectful dialogue. As trustees, our role goes beyond administration. We help bring clarity and balance to decision-making, ensuring every family member has a voice and that solutions are found that honour both the family’s values and long-term vision.”

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.

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 more than 8,000 clients, including financial institutions, large-scale international organisations, and high-net-worth individuals. To find out more, please visit www.ocorian.com.