Sheffield Haworth: Opportunity for US Multi-Family Offices to Tackle Asia
Private wealth rose globally in 2012 by approximately 135 trillion USD (7.8%) from the previous year. Asia (excluding Japan) had the largest increase of approximately 28 trillion USD (17%). Sheffield Haworth found that private wealth is projected to double by approximately 48.1 trillion USD by 2018.
To meet the demands, over the past few years bankers have been setting up ‘family or private officers’ and ‘multifamily offices’ in Asia to provide sophisticated advice on their clients’ portfolios. Increasingly Asia’s ultra-high net worth (UHNW) population is growing fast and passing from the first to second generation. The rapid growth of Asian UHNW population and the multi-family office industry provides a huge advantage for U.S. companies to extend their capabilities.
The full report is published on Sheffield Haworth’s website. Read the full report.