Every so often, a piece of research reinforces trends we observe daily in the Family Office landscape. JPMorgan Private Bank’s latest release, Conversations with The World’s Wealthiest Families: Principal Discussion Report, based on interviews with 111 billionaires around the world, does exactly that.
Working closely with UHNW Family Offices and principals, we at Agreus hear firsthand about their priorities, challenges, and evolving structures. Much of what appears in this report echoes what we see across our global client base: a move towards hands-on investing, professionalising at speed, and stepping more confidently into the private markets. For those building, expanding or refining a Family Office, these insights are particularly instructive.
A More Hands-On Investment Approach
One of the strongest findings is the level of personal involvement billionaires are taking in their investments.
According to the report:
- 70% of principals surveyed prefer an active role in direct investments, often participating directly in governance, operational oversight or holding board seats
- 43% make investment decisions themselves, even when supported by a CIO or dedicated investment team.
- Private investment allocations have doubled in the past year.
Families are increasingly behaving like institutional private equity firms, combining entrepreneurial instincts with more sophisticated investment infrastructure.
Most UHNW families now balance hands-on involvement with professional support:
- Around 80% have a CIO and investment team.
- Nearly 80% have formalised their investment processes.
Yet when a Family Office becomes heavily operational, many principals revert to their trusted personal networks, family members, long-standing advisers and personal contacts. This shows that while professionalisation is accelerating, it is still most advanced within investment functions.
What this means for Family Offices
The demand for investment talent, specialist teams and experienced CIOs continues to rise. Families want the confidence of institutional-grade capabilities without losing founder-driven agility. We are seeing a clear preference for hybrid staffing models that combine professional oversight with principal-level decision-making.
Focus on Good Governance
Governance structures are undergoing their own transformation.
The report highlights a clear pattern:
- First-generation founders tend to retain full control and often operate with informal governance.
- Second- and third-generation families adopt more consensus-driven decision-making supported by formal committees and documented processes.
With 73% of family members involved in the Family Office or operating business, clarity around roles, responsibilities and merit-based involvement has become essential.
Families increasingly seek external expertise to help:
- Define or refine their governance framework
- Clarify purpose, values and long-term vision
- Establish systems that support transparency, trust and alignment
What this means for Family Offices:
Good governance is no longer optional. As families become more complex, they require structured decision-making, succession planning and clear role definitions. This trend directly influences hiring, organisational design and long-term talent planning.
Family Offices as Strategic Anchors
Today’s Family Office has undoubtedly become the central institution supporting UHNW wealth management, stability and long-term vision. For some families it functions primarily as an investment engine. For others it serves as a fully integrated platform managing finance, governance, risk, legal affairs and lifestyle services.
Interestingly, many principals describe their Family Office as the “glue” that holds the family together, enabling them to navigate complexity while remaining focused on what matters most.
For Family Offices this means they increasingly require multi-disciplinary teams capable of supporting broad mandates. This includes operational leaders, governance experts, CFOs, investment specialists and lifestyle managers, each playing a role in reinforcing the family’s purpose and identity.
The Rise of Sports as a Serious Asset Class
A notable trend in the report is the surge of interest in sports ownership. In 2022, only 6% of principals held stakes in sports teams. Today, that figure has jumped to 20%, with additional investment flowing inro stadiums and leagues.
What was once considered a passion project is now treated as a long-term strategic asset capable of:
- Strengthening family identity
- Uniting multiple generations
- Delivering economic and reputational value
This shift is increasingly visible within the Family Office community and among our clients, where sports-related opportunities are becoming a prominent area of focus.
Philanthropy with purpose
Philanthropy continues to play a significant role in UHNW families' identities, but the approach has evolved. Younger generations are more active, hands-on, and impact-focused. Many draw inspiration from personal experiences and prioritise targeted, meaningful initiatives over passive giving.
More than 70% of surveyed families now have a dedicated person or team overseeing philanthropy, showing a clear desire toward professionalisation. Families are also expanding this mindset into sustainability, responsible business practices and purpose-driven investment.
For Family Offices, the strategic philanthropy requires dedicated structures, defined processes and experienced leadership, further strengthening the need for specialist hires within the Family Office.
Leaders Who Think Long Term
The report’s leadership insights reflect an emphasis towards long-term learning, reflection, and resilience. Many principals attribute their success to their willingness to take calculated risks and their ability to manage fear. They consistently emphasise the importance of family, health, and time, elements that often take precedence over financial metrics when defining personal success. And when thinking about legacy, the message is clear: legacy is ultimately about values, more than wealth. Money, as one principal noted, “comes and goes.”
When looking outward, principals share a common set of concerns about the world. Geopolitical tensions, AI and machine-learning disruptions, market volatility, climate risk, and cybersecurity top the list of global threats that influence their strategic decisions.
AI: Transformative, but Divisive
Among all emerging trends, AI stands out for its sheer pace of adoption with:
- Nearly 80% of UHNW principals stated that they now use AI in their personal lives
- 69% use it within their businesses
- Direct investment in AI technologies has also skyrocketed, increasing from 3% in 2022 to 30% today.
Yet even with this rapid adoption, the group remains divided. Some view AI as one of the most exciting opportunities of the decade, while others regard it as a significant risk to security, privacy, and global stability.
What This Means for Family Offices, and How We Help
Taken together, the report points to a future in which Family Offices become more sophisticated, more professionalised, and more strategically important. This evolution creates both opportunities and challenges, particularly around talent, governance and operational structure.
As a specialist Family Office recruitment and consulting firm, Agreus supports UHNW families in building the teams, leadership, and frameworks required for long-term success. Whether you are strengthening your investment capabilities, formalising governance or establishing a Family Office for the first time, we provide the expertise and trusted guidance to help you do it with confidence.
If you would like to discuss how these insights may apply to your Family Office, we would be pleased to help.