Family office space set for exponential growth in next 5-10 yrs in India

A third of families still do not use wealth management services

The family office space is likely to explode in 5-10 years as wealth grows exponentially and wealthy families feel the need to add a layer of professionalism to their family business and investment structures, ensure smooth transfers of wealth over generations, and embark on co-investment opportunities.

At present there are about 45 standalone single-family offices in India compared to 2,300 in the US, 1,900 in Europe and about 900 in Asia, a joint report by Edelweiss Private Wealth Management and Campden Family Connect, a membership network for the ultra-wealthy community, observes. 

“India has witnessed the generation of vast sums