2025 Wealth Management Outlook: Spotlight on Investment Careers

The wealth management landscape is undergoing a seismic shift as single- and multi-family offices grow in scale, sophistication, and influence. No longer just vehicles for wealth preservation, these entities are now dynamic investment powerhouses, managing diverse portfolios, integrating cutting-edge technologies, and embracing sustainable investing.

For investment professionals, this evolution presents a unique opportunity: the chance to hone and leverage their expertise in a space that prioritizes long-term strategy, client-centric solutions, and innovative financial approaches. As family offices continue to expand, those who understand their complexities will be well-positioned to lead the next era of wealth management.

Single-family offices are the fastest-growing segment in wealth management. According to Deloitte, the number of single-family offices worldwide surged by 31% to 8,030 in 2023, up from 6,130 in 2019, with projections that there will be 10,720 single-family offices by 2030. Alongside this expansion, assets under management are expected to grow to $5.4 trillion by 2030. For CFA charterholders in particular, this evolution represents a pivotal moment to leverage their expertise and play an instrumental role in the family office space.

Transforming the Role of Family Offices

Once primarily focused on wealth preservation, family offices have evolved into dynamic organizations that manage diverse portfolios, support intergenerational wealth transfer, and embrace innovative investment strategies.

Single-family offices, often structured like private hedge funds, cater to ultra-high-net-worth families with bespoke financial services. Multi-family offices, meanwhile, serve multiple families, offering wealth management, tax optimization, estate planning, and more.

The transformation of single- and multi-family offices to dynamic organizations aligns seamlessly with the core competencies of CFA charterholders. Long-term planning, client-centric approaches, and alternative investments are in high demand. Furthermore, as seasoned wealth managers retire, multi-family offices are acquiring their books of business, presenting leadership opportunities for those seeking to expand their client base and assume leadership roles.

Strategic Planning for Intergenerational Wealth

Family offices increasingly focus on managing wealth transitions between generations. To excel in this space, investment professionals must complement their technical expertise with interpersonal and strategic skills including:

• Understanding family dynamics: This requires navigating complex relationships and mitigating conflicts to maintain harmony during wealth planning.
• Environmental, social, and governance (ESG) and impact investing expertise: Younger generations prioritize investments aligned with their values, driving demand for sustainable investing strategies. Global ESG assets are projected to exceed $40 trillion by 2030, presenting an unparalleled opportunity for investment professionals to specialize and set themselves apart.
• Legacy and succession planning skills: This requires designing and implementing comprehensive strategies that ensure seamless wealth transitions while honoring the family’s long-term goals.

Digital Assets: A Unique Niche

Cryptocurrency is emerging as a significant asset class for family offices, driven by a desire to engage younger generations and diversify portfolios. Given their ability to hold illiquid assets for extended periods of time, family offices are uniquely positioned to capitalize on the long-term potential of digital assets.

Investment professionals who acquire expertise in blockchain technologies, regulatory frameworks, and risk management can carve out a niche as advisors in this rapidly growing market. Understanding crypto’s broader implications — from portfolio diversification to fostering intergenerational engagement — further enhances a practitioner’s value proposition.

Leveraging Wealth Tech

Technology is reshaping how family offices operate, with innovations ranging from AI-driven investment platforms to advanced compliance tools. Mastering wealth tech is critical to improving operational efficiency and delivering personalized client experiences.

Staying ahead in this domain requires:

• A deep understanding of how technology enhances client lifecycle management
• Insights into integrating digital tools into family office practices, from streamlining workflows to optimizing portfolio reporting

Practitioners who embrace these advancements can position themselves as forward-thinking professionals who elevate both the efficiency and sophistication of family office operations.

The Multifamily Office Advantage

Multi-family offices offer a wealth of opportunities to refine skills and broaden impact. With a diverse client base, multi-family offices expose investment professionals to a wide array of financial scenarios, enabling them to:

• Develop expertise in alternative investments, tax optimization, and cross-border wealth management. These are in-demand skills in today’s global economy.
• Expand their roles beyond investment management into areas such as philanthropic advising, succession planning, and family governance.
• Lead initiatives to attract and retain high-net-worth clients, demonstrating their strategic and leadership capabilities.

For those seeking dynamic and exciting careers, the multi-family office sector offers tremendous opportunities.

Future-Proofing Your Career

As family offices continue to evolve, investment professionals who adapt to their unique demands will find significant opportunities for growth and leadership. The future of wealth management lies in a holistic approach — one that blends technical expertise with strategic foresight, relationship management, and adaptability to emerging trends like sustainable investing, digital assets, and wealth technology.

CFA charterholders are uniquely positioned to capitalize on these trends. But any investment professionals who embrace this transformation will not only enhance their careers but also play a pivotal role in shaping the next generation of family office success.