Hong Kong surpasses 2,700 family offices

Strong financial infrastructure and China access drive growth.

Hong Kong has surpassed 2,700 single family offices (SFOs), reinforcing its position as Asia’s top destination for managing ultra-high-net-worth (UHNW) wealth, according to the 2025 Julius Baer Family Barometer, developed with PwC Switzerland.

The region's over 2,700 SFOs now outnumber Singapore’s 2,000, reflecting the city’s resurgence as a trusted financial and governance hub.

Its proximity to Mainland China, established financial infrastructure, and deep market connectivity continue to attract families seeking regional growth opportunities.

The report, based on insights from nearly 2,500 experts worldwide, shows that Asia’s ultra-wealthy are responding to global uncertainty, geopolitical risk, and digital disruption by professionalising wealth management and redefining their family priorities.

Whilst Singapore remains a strong competitor, valued for political stability and regulatory transparency, Hong Kong’s scale and ecosystem depth position it as the preferred base for complex, multi-jurisdictional family wealth structures.

The report noted that Asian families are increasingly prioritising legacy building, family growth, and values alignment—moving beyond inheritance to defining purpose and long-term impact.

Only 28.6% of UHNW families globally report having a clear, shared vision, while over half face internal disagreements on direction.

Across Asia, 74% of families with family offices use the single-family office model, but rising costs and complexity are fueling interest in hybrid and collaborative structures.

Families are outsourcing specialised functions such as liquidity management (73%), investment management (63%), and cybersecurity (48%), while maintaining control over core areas like succession and philanthropy.