Global Family Office Report 2026 (UBS)

Summary

• The report presents findings from 307 family offices across more than 30 markets worldwide, with an average net worth of USD 2.7 billion.p.5
• A record 60% of family offices plan to make changes to their strategic asset allocation over the next 12 months, up from 35% in 2025.p.16
• Confidence in the US dollar is weakening, with 65% of family offices expecting its reserve currency role to soften over the coming year.p.22
• North America continues to dominate global portfolio allocations at 52% in 2026, down slightly from 53% in 2025.p.26
• Artificial intelligence is the top thematic investment priority, with 65% of family offices currently holding capital allocations in AI opportunities.p.34
• Operating costs account for 53% of total family office expenditure, with staffing costs remaining the largest single expense factor.p.38
• While 45% of family offices involve the next generation to some extent, only 27% have an organized process to educate and prepare them for future roles.p.42

Key insights

1. Family offices view global trade war risks as easing, but concerns over sovereign debt levels and recession risk are growing.p.6
2. Family offices planning strategic allocation changes are tilting portfolios toward emerging market equities and infrastructure while reducing real estate.p.6
3. A substantial proportion of family offices describe themselves as over-exposed to the US dollar and are seeking multicurrency diversification.p.6
4. While North American family offices show strong home bias, European and Asian family offices plan to expand allocations in Western Europe and Asia Pacific.p.7
5. Despite overexuberance concerns, family offices continue to invest across the entire AI technology stack, including data centers, software, and semiconductors.p.7
6. Although the 30-to-39 age range is viewed as optimal for active family office decision-making, many heirs remain completely uninvolved.p.7
7. Geographic diversification is widely adopted as a risk management strategy, with 88% of family offices holding bankable assets across two or more jurisdictions.p.12
8. Leverage usage has declined over five years, with 35% of family offices currently avoiding leverage to focus on downside protection.p.31
9. Crypto exposure remains niche at around 1% of portfolios, yet 44% of invested family offices now treat it as part of their strategic asset allocation.p.35