While hedge funds and private equity firms grab headlines, family offices—the private wealth management firms serving ultra-high-net-worth families—are quietly revolutionizing the financial landscape. With trillions of dollars under management and the freedom to operate beyond the glare of public scrutiny, these silent titans are reshaping markets and economies on a scale that few fully appreciate.

The Rise of the Family Office

Family offices have experienced explosive growth in recent years. According to a recent report by Deloitte Private, the number of single-family offices worldwide is expected to surge from 8,030 in 2024 to a staggering 10,720 by 2030—a remarkable 75% increase in just six years. Even more impressive is the projected growth in assets under management (AUM). Family offices currently manage an estimated $3.1 trillion, a figure set to skyrocket to $5.4 trillion by 2030—a 73% increase.

“The growth has been explosive,” says Rebecca Gooch, global head of insights for Deloitte Private. “It’s really the past decade that has seen an acceleration in growth in family offices.”

This rapid expansion is reshaping the wealth management industry and creating a powerful new force in the financial landscape. Family offices are projected to surpass hedge funds in terms of assets under management in the coming years, becoming the new darlings of fundraising. Venture capital firms, private equity interests, and private companies are all vying for a slice of this growing pie.

The Power of Discretion

Unlike their more visible counterparts in the hedge fund and private equity world, family offices operate with a level of discretion that borders on invisibility. They have no obligation to report earnings, no pressure to justify fees, and no need to anxiety over quarterly performance metrics. This freedom from public scrutiny allows family offices to make bold, long-term investment decisions that can have far-reaching consequences for global markets.

Eric Johnson, Deloitte’s private wealth leader and family office tax leader, explains the appeal: “There are some organizations that don’t have products to pitch, but a lot of them do. And, lo and behold, if you engage them, what you’re going to have to buy is kind of what they’re selling, which might not be the best for the family.”

This laser focus on the family’s best interests, unencumbered by the need to sell products or satisfy external investors, gives family offices a unique edge in the market.

The Numbers Don’t Lie

The sheer scale of wealth managed by family offices is staggering. Deloitte’s report reveals that the total wealth held by families with family offices is expected to reach an eye-watering $9.5 trillion by 2030, more than doubling over the decade. To put this in perspective, the entire hedge fund industry managed approximately $4.3 trillion in assets as of Q2 2023, according to Hedge Fund Research.

North America is leading the charge in this family office revolution. The region’s 3,180 single-family offices are expected to grow to 4,190 by 2030, accounting for about 40% of the world’s total. The total wealth held by families with family offices in North America has more than doubled since 2019, reaching $2.4 trillion. By 2030, this figure is projected to hit $4 trillion.

A New Investment Paradigm

Family offices are not just growing in size; they’re also revolutionizing how ultra-high-net-worth individuals approach investing. Gone are the days of staid 60-40 stock and bond portfolios. Today’s family offices are aggressively moving into alternative assets, including private equity, venture capital, real estate, and private credit.

According to the J.P. Morgan Private Bank Global Family Office Report, family offices now allocate a whopping 46% of their total portfolio to alternative investments. The largest chunk of this—19%—goes to private equity. But family offices aren’t content with just investing in funds; they’re increasingly doing direct deals, investing directly in private companies.

A survey by BNY Wealth found that 62% of family offices made at least six direct investments last year, and 71% plan to make the same number of direct deals this year. This shift towards direct investing is sending shockwaves through the private equity and venture capital industries, as family offices become formidable competitors for deals.

The Long Game

One of the key advantages family offices have over traditional investment firms is their ability to take a long-term view. Without the pressure of quarterly earnings reports or the need to return capital to outside investors, family offices can hold investments for decades or even generations.

“Family offices can be very solid, strong partners to invest with,” notes Rebecca Gooch. “I think a lot of the private companies are very grateful for their long-term patient capital and their dedication to this space.”

This long-term perspective allows family offices to weather market volatility and capitalize on opportunities that might be too risky or illiquid for other investors. It also makes them attractive partners for private companies looking for stable, committed investors.

The Global Footprint

The influence of family offices extends far beyond North America. Asia Pacific has emerged as a hotbed of family office activity, with 2,290 family offices today—surpassing Europe’s 2,020. By 2030, Asia Pacific is expected to host 3,200 family offices, reflecting the rapid wealth creation in the region.

This global expansion is not just about numbers; it’s about diversification and opportunity. Over a quarter (28%) of family offices now have more than one branch, and 12% plan to establish another. North America and Asia Pacific are the most attractive destinations, with 34% of family offices targeting each of these regions.

The Next Generation

As wealth transfers to the next generation, family offices are evolving to meet new demands and priorities. Women now serve as the principals of 15% of family offices worldwide, signaling a shift in leadership and potentially in investment strategies.

The average age of family office principals is 68, and 4 in 10 family offices will go through a succession process in the next decade. This generational shift is likely to bring new perspectives on issues like sustainable investing, technology, and global diversification.

The Future of Finance

As family offices continue to grow in size and sophistication, their impact on global finance is only set to increase. A majority of industry insiders expect the number of family offices worldwide to expand (73%), become more institutionalized and professionally managed (66%), and adopt greater asset class and geographic investment portfolio diversification (55%).

Wolfe Tone, Deloitte Private Global leader at Deloitte Global, sums up the situation: “As they continue to navigate ongoing economic challenges and geopolitical uncertainty, family offices are expanding their services, maturing their structures, focusing on their talent strategies, and carefully managing their investments to ensure sophisticated and efficient operations for the future.”

The Bottom Line

While hedge funds and private equity firms may capture more headlines, family offices are the true titans reshaping global finance. With trillions in assets, a long-term perspective, and the freedom to operate away from public scrutiny, these institutions wield enormous influence over markets and economies.

As their assets continue to grow and their strategies evolve, family offices are poised to play an even more significant role in shaping the future of global finance. For investors, policymakers, and financial professionals, understanding the power and potential of family offices is no longer optional—it’s essential.

In a world where financial power is increasingly concentrated, family offices stand as the silent giants, moving markets and reshaping economies on their own terms. As we look to the future of global finance, it’s clear that the real action isn’t in the spotlight—it’s in the shadows, where family offices quietly pull the strings of the world economy.

A young Aussie saving up for her first home has shared exactly how much money she has in her bank account. Talking about money and how much you earn or have in savings has long been considered taboo, but more and more Aussies are now breaking the stigma.

Natalie Hale has been openly sharing her finances online and bringing people along on her journey to save up for her first home. The 23-year-old told Yahoo Finance she wanted to learn about budgeting and managing money but struggled to find relatable content online.

“I decided to start openly sharing my finances online because there wasn’t a lot of representation for young people learning how to budget and how to manage money when I was starting my journey,” she said.

“I wanted to learn more but I couldn’t really find anything relatable so I created it.”

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In a recent TikTok video, Hale shared she had around $40,000 in her savings account spread across multiple savings accounts. That included $31,064 saved up for a home deposit, $1,071 for emergency expenses, $1,150 for car expenses and $1,250 for business expenses.

Hale, who works as an independent disability support worker in Queensland’s Fraser Coast, said she was currently trying to put half of her income towards saving up for her first home and the rest towards other expenses that were important to her.

Her income fluctuates but she revealed she earned six figures last financial year. For example, in the last few months, she made $2,330 in one week and $5,521 in another.

“I’m currently prioritising putting as much as I can into my house, I keep my expenses small, I don’t have many subscriptions which is the number one killer of young people’s bank accounts and I don’t go out on weekends,” Hale said.

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“Making small changes where I can because every bit of money adds up. It’s not always easy but it’s important to take the steps now while I’m young so future me doesn’t have to worry.”

After meeting with a mortgage broker, Hale aimed to save a $38,000 deposit for a home.

She noted there were a range of government grants available to first-home buyers that could also help towards her goal.

‘Start simple’: Budgeting tips

Hale has more than 20 savings accounts with her bank, ANZ Plus, which she uses to allocate her cash towards different specific expenses and goals.

“I currently budget my money by dividing the bill by my pay cycle and allocating it to that savings jar in my ANZ plus account,” she told Yahoo Finance.

Hale recommended other Aussies “start simple” and break their budget down in a way that works for their lifestyle.

“Ultimately saving for something big comes with some sacrifices so it’s just deciding what you can sacrifice and where you can earn some extra money, I do affiliate marketing and online surveys to make some extra money,” she said.

“I have a ‘round up’ feature on my bank account so every time I spend it rounds it up to my savings account and keep my money in a high-interest account so my money works for me.”

While Hale said she received a few negative comments online, she said the positive comments made “it all worth it”.

How much does an average Australian have in savings?

The average Australian has $37,915 in savings, according to Finder data.

Men have more savings than women, with an average of $47,398 in savings compared to $27,492 for women.

Savings also vary greatly depending on age, with Gen X having the most in savings at $57,794, while Gen Z had the least at $28,372.

It’s important to note these are just averages. Finder also found a staggering 47 per cent of Aussies could only survive off their savings for one month or less, with just 22 per cent confident they could last six months or more.

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With crypto continuing to remain a front-and-center issue in U.S. political circles, including the nomination of a pro-crypto challenger to Senator Elizabeth Warren, it should come as no surprise that policymakers are wading more directly into the sector. Specifically, former President (and current candidate) Donald Trump has been making public and forceful forays to the crypto sector, seemingly a reflection of the massive spending that the crypto industry has invested into current races. The latest example of this is the coming launch of World Liberty Financial, a crypto project founded, supported, and endorsed by the current Presidential candidate.

While specifics remain somewhat difficult to pin down, with some versions the whitepaper becoming available, there is still plenty to digest and work through as the project comes to light. As with most thing involving former President Trump, however, there has been some controversy and drama around the launch of the project. Specifically the X account of Laura Trump, daughter in-law of the former President and Republican National Committee co-chair, appeared to be hacked and disseminated false information regarding the launch of the project as well as malicious links to a coin claiming to the be the official coin of the project. Setting aside these hiccups and drama, however, it is indicative of the strength inf the crypto sector that a Presidential candidate from a major U.S. political party is launching a project in the middle of a campaign.

Let’s take a look at items crypto investors should keep in mind as the project continues to move forward to launch.

Security Should Be A Top Concern

Any project that is led by such as high-profile figure, such as the former President, is bound to attract substantial amounts of attention from investors and policymakers, but also criminal actors looking to exploit weaknesses in the underlying infrastructure and cybersecurity. Analysis of the components and versions of the whitepaper that have been leaked to date indicate that the technical underpinnings of World Liberty Financial are very similar to those that supported Dough Finance. In July 2024 Dough Finance was hacked via exploiting flash loan transactions focusing on vulnerable smart contracts. Although the founding team, including members of the Trump family as well as the technical team, have emphasized that security will be front-and-center for this venture, the technical similarities should be cause for further examination.

Additionally the fact that details and pieces of information are being continuously leaked prior to the project launch leaves the team and project itself open to the array of hacking and impersonation scams that have already occurred.

Centralization Will Be Front And Center

Mirroring many of the crypto products and services that have deployed since 2022 a defining characteristic of World Liberty Financial, according to the whitepaper that has been circulated, is that 70% of WLFI – the governance token – will be held by the founders, team, and service providers. Centralization and this level of concentrated control is, of course, the opposite of the original ideas behind the crypto movement, but do track with the centralization that has occurred in the staking, stablecoin, and ETF slices of the crypto landscape. For context, Ethereum’s Genesis block reserves a combined 16.6% of ether for the Ethereum Foundation and early contributors, Cardano founders retained 20% of ADA and Satoshi Nakamoto holds approximately 5% of total bitcoin supply.

While the final whitepaper and tokenomics are yet to be disclosed, the level of centralization of governance tokens is worth noting for investors looking to both invest and/or exercise voting power through acquisition of WLFI tokens.

Stablecoins Feature Prominently

Since the final tokenomics and whitepaper have yet to be publicly disclosed the mission and business model of World Liberty Financial remains a matter of speculation versus fact. That said, both the former President and project representatives have reiterated the goal of establishing the United States as the crypto capital of the planet. One avenue that has been publicly disclosed as part of that goal is the aspiration of the project to embrace stablecoins alongside the WLFI governance token.

Building on comments from former President Trump regarding the position of the U.S. as an economic leader and crypto hub, combined with the fact that over 90% of stablecoins are backed on a 1:1 basis by the dollar and these statements seem in alignment. Specifics related to which stablecoins will be integrated are forthcoming, but it is yet another indication of the growing importance of stablecoins to the crypto space.

Regardless of how World Liberty Financial works out, this project will continue to elevate crypto in terms of mainstream coverage and investor understanding.