ESG is ‘part of fiduciary duty’ for family offices, says new research

91% of family office professionals say there will be an increase in focus on ESG principles from a fiduciary perspective over the next three years

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 that a focus on ESG principles will be elevated into family offices’ fiduciary responsibilities over the next three years. 

Its international study with more than 130 family office professionals responsible for around $62.425 billion assets under management found 93% agree that ESG principles are a key consideration when it comes to family office investment priorities, with 40% strongly agreeing. 

The research from Ocorian, which works with more than 60 family offices around the world, shows that more than nine out of 10 (91%) believe ESG is part of family office’s fiduciary duty and 88% predict an increasing focus on ESG principles from a fiduciary perspective over the next three years. Nearly two out of five (37%) predict a dramatic increase. Just 11% believe it will stay the same as today and only 1% think it will decrease.

Amy Collins, Head of Family Office at Ocorian, said: “Our research shows that the majority of family office professionals already see ESG as part of fiduciary responsibilities, but there is set to be an increasing focus from a fiduciary perspective over the next few years. We're seeing many family offices, particularly those with a heavy influence from younger generations bringing in new ideas and values which increasingly align with sustainable investing principles." 

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.

*Ocorian commissioned independent research company PureProfile to interview 134 family office investment managers working for family offices which use third-party private client services providers to support in the preservation and protection of their clients’ wealth. The investment managers interviewed are responsible for assets under management of $62.45 billion and include 63 working for multi-family offices. The global study interviewed family offices in the US, UK, Canada, China, Germany, India, Norway, Saudi Arabia, Singapore, South Africa, Sweden Switzerland, UAE, Denmark, France and Japan.

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