Hong Kong has firmly established itself as the preeminent location in Asia for single family offices (SFOs), a status confirmed by the 2025 Julius Baer Family Barometer, developed in collaboration with PwC Switzerland. Surpassing 2,700 SFOs, the region now outpaces Singapore, which has approximately 2,000, underscoring Hong Kong's renewed prominence as a reliable center for finance and governance. This growth is primarily attributed to its strategic geographical position adjacent to Mainland China, a highly developed financial infrastructure, and extensive market connectivity, all of which are compelling factors for families seeking to capitalize on regional growth opportunities.
Amidst global uncertainties, geopolitical shifts, and the rapid pace of digital transformation, ultra-wealthy individuals across Asia are increasingly professionalizing their approach to wealth management and re-evaluating their family priorities. While Singapore remains a formidable competitor, recognized for its political stability and clear regulatory framework, Hong Kong's extensive network and sophisticated ecosystem make it the preferred choice for managing intricate, multi-jurisdictional family wealth structures. A significant trend highlighted in the report is the growing emphasis among Asian families on cultivating a lasting legacy, fostering family expansion, and aligning values, moving beyond merely focusing on inheritance to defining purpose and creating long-term societal impact.
Despite this shift, a mere 28.6% of ultra-high-net-worth families globally articulate a unified, shared vision, with over half experiencing internal disagreements regarding their strategic direction. In Asia, 74% of families with family offices adopt the single-family office model. However, escalating costs and increasing complexity are driving interest in hybrid and collaborative structures. Consequently, families are increasingly entrusting specialized functions such as liquidity management (73%), investment oversight (63%), and cybersecurity (48%) to external providers, while retaining direct control over crucial areas like succession planning and philanthropic endeavors.
This evolving landscape in wealth management underscores a collective pursuit of purpose-driven prosperity and enduring impact. By embracing adaptability and strategic partnerships, families and financial institutions can collaboratively navigate the complexities of modern wealth, fostering a future where prosperity extends beyond financial gains to encompass meaningful legacies and positive societal contributions.