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Bank of America Family Office Study: Next Generation Set to Reshape Family Offices

BAC
  • A quarter of family offices have undergone leadership transitions in the last decade, with only 37% of incoming principals considered very prepared.
  • Private markets, direct investments, & sports ownership are shaping future portfolios, with 79% of offices predicting alternative investments will grow.
  • 59% of family offices plan to increase private equity exposure over the next three years, while 38% cite direct investment ownership stakes as a top wealth-generation opportunity.
  • Four in 10 family offices currently hold sports investments, a trend most prevalent among offices with Gen Z or Millennial principals.
  • Most family offices have identified a successor (83%), yet only 27% have established trust distribution policies or guiding principles.
  • While 91% agree governance & education keep families aligned, fewer than half (40%) have formal family education programs.
  • 77% of family offices expect the next generation to use credit more strategically to build wealth, particularly among business-owning families.
  • Family offices primarily use credit for real estate investments (45%) & bridging liquidity needs, though only 27% use leverage consistently for long-term strategy.
  • AI adoption is common, with 42% of offices reporting regular employee use for data analysis, meeting summaries, & automation.
  • 83% of family members expect new technology implementations, & 88% of offices with next-generation involvement believe AI will improve investment returns.
  • The study surveyed 355 U.S. family office decision makers between January & February 2026, covering assets ranging from $25M to over $5B.