Something has been happening quietly in the background of Australia’s wealth scene: the rise of the family office. If you haven’t heard much about them, you’re not alone. These private firms, set up to manage the fortunes of very wealthy families, tend to keep a low profile. But they’re now some of the most influential players in the investment world.

So, what is a family office?

Think of it as a private company that looks after everything for a wealthy family: investments, tax, philanthropy, even succession planning. Unlike big super funds or banks, family offices don’t answer to the public or report quarterly results. They can move quickly and take a genuinely long-term view.

Where is the wealth coming from?

Australia’s millionaire population keeps growing. Much of it comes from property, which has roughly doubled in value over the past decade, along with business sales and transfers between generations. Superannuation adds to the pool too, with total super assets above $4 trillion. That’s a lot of capital looking for a home.

Who’s running the show?

Traditionally family offices were run by the founders who made the money. Now the next generation is stepping up, bringing international experience and a strong interest in impact investing and technology. Deloitte’s research suggests most family offices in our region have only existed for around 15 years, and the sector is growing fast.

How are they investing?

Family offices aren’t sticking to shares and property. They’re active in private equity, direct deals and technology, with global surveys showing a large majority now involved in private deals and many investing in artificial intelligence. They’re also using cloud platforms and data tools to run complex portfolios, though plenty admit they could use technology better.

The succession gap

Succession planning is the hot topic. Only a minority of Australian family businesses have a formal plan for handing over the reins, even though almost everyone agrees it matters. The next generation is also pushing for investments that reflect their values, so the family’s wealth does good as well as grows.

Why does this matter to you?

Family offices are long-term thinkers with one person, or one team, looking at the whole picture. You don’t need a nine-figure fortune to borrow that approach. You need clear governance, a coordinated set of structures and an adviser who sees across all of them.

General information only. It does not take into account your objectives, financial situation or needs.