India’s ultra-high-net-worth population is currently experiencing a significant shift, influenced by generational transitions, major business monetisation events both locally and globally, and a rising demand for advanced wealth management solutions. Central to this evolution is the emergence of family offices — specialised entities that enable affluent families to oversee their assets and facilitate smooth intergenerational wealth transfers.
In recent years, family offices in India have evolved from being mere wealth custodians to dynamic entities driving entrepreneurship, innovation, and economic growth. From just 45 in 2018, the number of family offices in India has surged to over 300 by 2024, collectively managing assets worth approximately $30 billion. This remarkable growth underscores a significant shift in how India’s ultra-high-net-worth individuals (UHNWIs) approach wealth management and legacy planning. As the ranks of high-net-worth individuals (HNWIs) and UHNWIs swell, so does the demand for a specialized, holistic approach to wealth management. Once a niche concept, family offices are rapidly becoming indispensable pillars for India’s wealthiest families.
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