Global Family Office Sector Gains Momentum Amid Growth and Organization Efforts

A Paris-based group is working to establish the International Federation of Family Office (IFFO) to unite the growing industry of family offices. A study by Deloitte indicates that single family offices are an emerging economic powerhouse, projected to grow from over 8,000 in 2024 to approximately 10,700 globally by the end of the decade. The IFFO has secured national associations from Belgium, France, Lithuania, and Canada, and has established contacts in Germany, Italy, Switzerland, and Singapore.

The effort to create a global organization signals a potential opening of the traditionally secretive family office sector. The rapid expansion of family offices, which handle investment, banking, and governance for ultra-wealthy families, is driving this organizational push.