In recent years, the idea of a family office has gained significant momentum in India. As first-generation entrepreneurs create new wealth and multi-generational families diversify their portfolios, the demand for more structured, institutional-style wealth management has become evident.
Yet, when compared to mature markets such as the U.S., the U.K., and Singapore, Indian family offices are still evolving, particularly in areas of governance, diversification, and long-term strategy. To understand how far the model can go, it helps to look at the global landscape.
According to The Family Office Insights Series – Asia Pacific Edition report, a survey of 354 single-family offices worldwide (including 89 from the Asia-Pacific region) conducted between September and December 2023 found that global family offices, on average, manage about US$2.0 billion in assets, with total family wealth averaging US$3.8 billion. In the Asia-Pacific region, the averages stand at US$1.0 billion and US$2.1 billion, respectively.
These figures highlight the scale and sophistication global family offices have achieved, and the opportunity for Indian counterparts to evolve beyond traditional wealth management into structured, multi-generational legacy planning.
Professionalising management beyond the family
One of the biggest takeaways from global family offices is the importance of professionalisation. In many Western and Asian economies, family offices hire experienced fund managers, legal experts, and estate planners who operate independently from family influence.
This ensures fair decision-making and disciplined financial management. Family offices can follow a similar approach by handing over regular operations to professionals while the family concentrates on long-term strategy and legacy planning.
This balance helps combine emotions with practical and well-informed decisions.
Emphasising structured estate and succession planning
Global family offices consider estate planning as a continuous and evolving process rather than a one-time legal exercise. They use structures like family trusts, holding companies, and philanthropic foundations to ensure smooth intergenerational wealth transfer.
Families in India can adopt similar models to prevent disputes and tax complications. Having clearly documented succession plans and governance frameworks ensures that transitions happen seamlessly, protecting both family harmony and business stability.
Diversifying across asset classes and geographies
Unlike most Indian family offices that typically concentrate heavily on real estate and business reinvestment, global family offices follow a well-balanced approach to investment management. They diversify throughout equities, bonds, private equity, venture capital, and even global markets.
This not only spreads risk but also enhances long-term returns. Family offices can learn to allocate a part of their portfolios to emerging sectors like technology, renewable energy, and international opportunities while maintaining prudent risk controls.
Prioritising governance and transparency
Strong governance is the backbone of successful global family offices. They establish clear decision-making hierarchies, investment committees, and reporting systems to maintain full transparency.
For families where emotional and generational differences impact financial choices, implementing governance structures is important. Periodic audits, transparent communication, and performance assessments can prevent misunderstandings and align everyone toward shared goals.
Governance also helps younger generations understand their roles and responsibilities early on.
Focusing on impact investing and philanthropy
Around the world, family offices are shifting focus from pure profit-making to purpose-driven investing. They fund sustainable businesses, social enterprises, and climate-related projects that align with their family values.
Family offices in India can take inspiration by channelling a portion of their wealth into impact investing and structured philanthropy. This not only contributes to nation-building but also creates a meaningful family legacy that extends beyond financial success.
Ending note
Family offices are evolving into dynamic institutions that combine enduring family principles with forward-looking global practices. By undertaking professional management, structured estate planning, global diversification, strong governance, and purposeful investing, they can evolve into future-ready institutions.
Learning from global counterparts is not about imitation, it is about adapting proven strategies. A resilient family office that not only protects wealth but also strengthens family bonds and societal impact for generations to come.