Succession planning still needs planning
Last year we reported that family offices’ number one ranked priority was to create a succession plan, as 69% expected to undergo a generational transition within the next 15 years. This year we found that nearly half (47.3%) of family offices claim to have some form of succession plan in place, while 45.7% still do not…
Growing philanthropic support for environmental and poverty causes
The average family office gave $5.7 million to philanthropy over the last 12 months. The number of those that gave to environmental causes climbed 9.4% to 41.7% between 2016 and 2017, while the proportion that gave to poverty alleviation rose 7.0% to 41.7%.
Impact Investing – allocations increasing
One-quarter (28.3%) of family offices are currently engaged in impact investing. Over half of these are engaged via direct private investment (62.5%) or private equity funds (56.3%), while the most popular sectors to invest in are education (54.3%), environmental conservation (45.7%) and energy/ resource efficiency (50.0%).