Search Ocorian

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

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

13 June, 2023
Private Clients Family Office

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.

Pre-register for the report today