Richard C. Wilson on the Future of Single Family Offices

Richard C. Wilson speaks from downtown Singapore before a private equity conference, sharing his view of the single family office industry.

Richard C. Wilson discusses where he thinks the single family office industry is heading. He draws on his work with family offices and describes how the sector may develop as wealth management structures spread and take different forms.

In this video: Richard C. Wilson (Family office consultant and adviser)

What they said

1. Growth across regions. Wilson says family office use is growing in Singapore, while Turkey, Brazil and Indonesia are behind. He says the United States and Europe lead in formally formed single family and multifamily offices. (at 1:21)
2. Wilson's growth forecast. In 5 to 7 years, Wilson expects the industry to be three times larger than it is now. In 15 to 20 years, he expects it to be 10 times larger. (at 1:48)
3. Smaller operating models. Wilson says the number of single family offices using a virtual model or an outsourced Chief investment officer is going up. He says offices with only $40 to $50 million and one full-time person, often a son running the money, are also increasing. (at 2:14)
4. Visibility and deal flow. Wilson describes a sixth generation family office that has a professional website and brand and is looking for joint ventures. He says this office sees a public profile as a way to get more deal flow and do co-investments or Club deals. (at 4:34)

In their words

"it shouldn't be hard to learn the very basics of just about anything nowadays"

"there'll always be some that are very discreet and very private"

Why it matters if you are building or preserving great wealth

For an office weighing a public website, Wilson's example suggests a brand can help source joint ventures and co-investments. It can also bring more exposure to sales pitches, the concern he says has kept some offices private.