The survey reveals only 37% of recent successor principals were considered very prepared despite widespread plans to expand direct and alternative holdings.

Family offices are entering a pivotal period of transformation as incoming leadership prepares to overhaul investment strategies, risk management and operational technology, according to the ‘Bank of America Family Office Study: Building for Generations,’ released on 20 October. The paper argued that rising leaders were approaching wealth management through a distinct structural lens The survey was conducted by Escalent in January and February across 355 family office decision ma