Family offices are changing as they respond to the economic effects of the coronavirus, the rise of ESG investing and make increased use of outside experts. While they may present challenges to traditional asset managers, these changes are creating opportunities for family offices

Many family offices have been slow to adopt the latest digital solutions but they must if they are to remain relevant to a younger client base

Private banks had already been rethinking the way they service global families before coronavirus hit but the crisis means they are focusing more than ever on this key client segment

Matthew Fleming, partner at multi-family office Stonehage Fleming, expects a new cohort of leaders to emerge during the coronavirus crisis and believes the experience will also reinforce the importance of face-to-face contact

There are huge opportunities in servicing families with a global footprint, from managing their assets through to educating the next generation in financial matters 

Family offices across Asia are building networks of like-minded individuals in order to swap ideas and find investment partners   

James Chen has used the wealth generated by his family’s manufacturing business to invest in socially-enriching projects in poorer countries

JP Morgan’s investment and private banking divisions are collaborating to serve family offices, explains Milena Grayde, who heads up a new team targeting this lucrative market