Family office growth continues as new generation of super rich seeks professional management

THE trend in a growing number of family offices being formed is likely to continue, as the next generation in high net worth families increasingly seek professional management of their wealth, said Hannes Hofmann, global head of Citi’s Family Office Group.

“You will see a formation of more family offices in the future, because that’s what’s demanded by the second generation,” he said.

More wealth is being generated, and faster than ever before, Hofmann added.