Family offices around the world are becoming more deliberate and resilient in their investing, risk management and long-term strategies amid the current uncertainty, a new report has found.
Citi Wealth’s 2026 Global Family Office Report reveals that public equities have re-emerged as the primary destination for incremental capital, although private markets remain a strategic pillar of family office portfolios. Meanwhile, artificial intelligence is moving from experimentation toward implementation, cross-border complexity in family offices is rising, and leadership succession and next-generation preparedness have become a priority.
“Succession emerged as one of the defining themes of Citi Wealth’s survey this year,” says Ajay Kamath, North America head of the family office advisory for Citi Wealth. Kamath notes that some one-third of family offices expect a leadership transition in the family, family office or family business within the next five years. “At the same time, preparedness remains uneven. Only 17 per cent of respondents describe themselves as well prepared for leadership succession.”
The report was compiled by Citi Wealth’s Global Family Office Group, which works with more than 1,900 family offices worldwide. The survey consisted of some 50 questions that sought to understand family office clients’ investment sentiment, portfolio actions, operational practices and family governance.
The themes of capital, capability, integration, trust, family and continuity provide a strong framework for the conversations we’re having with families.
Yannick Archambault
The survey was conducted from June 3 to July 14, 2026, and includes responses from 351 family offices in more than 40 countries. Kamath notes that North American family offices represent 41 per cent of respondents, the largest regional cohort in the survey.
Navigating uncertain markets with long-term vision
The report shows that family offices globally are building long-term strategies underpinned by key themes of capital, capability and continuity. They are investing with confidence—becoming more institutional in how they invest, more sophisticated in how they manage risk, and more intentional in how they prepare for the future.
Yannick Archambault, market executive for Canada for Citi Private Bank, says many of those priorities are seen among Canadian family offices and enterprising families: navigating increasingly complex global public and private market portfolios, institutionalizing how wealth is managed and preparing for significant generational transitions. “The themes of capital, capability, integration, trust, family and continuity provide a strong framework for the conversations we’re having with families about building and preserving wealth across generations,” Archambault says.
North American respondents to the survey showed relatively strong interest in real estate, leadership succession planning, family unity and continuity, and philanthropy, the report found. They were also more likely to cite unclear succession plans and future vision as key transition challenges.
Kamath says that one of the most notable differences between the current survey results and those in the past is the change in what family offices are worried about this year. In 2025, trade disputes and tariffs were the dominant concerns, while in 2026 inflation emerged as the clear leading concern, cited by 63 per cent of respondents, followed by interest rates and financial system stability. Concern about trade disputes and tariffs fell sharply, from 60 per cent to 18 per cent.
Another significant shift occurred in portfolio positioning. Public equities became the leading destination for incremental capital, with 46 per cent of respondents increasing allocations and just 12 per cent reducing them. Public equities also recorded the largest year-over-year improvement in net allocation increases.
Risk management appears to be evolving from a defensive exercise into a capability that allows family offices to stay invested.
Ajay Kamath
“Perhaps the most interesting finding is that confidence remained strong despite uncertainty,” Kamath points out. Almost 88 per cent of respondents reported positive portfolio performance year-to-date, and most family offices maintained a long-term investment approach rather than making major portfolio changes in response to geopolitical events.
Growing sophistication in investments and risk management
The survey suggests family offices are adopting practices traditionally associated with institutional investors, Kamath says. “Investment committees, formal due-diligence processes, portfolio reviews, investment policy statements and risk-management frameworks have become increasingly common.”
For example, 63 per cent of global family offices report having an investment committee and 60 per cent have a robust due-diligence process. Direct investing is also widespread, with 75 per cent of respondents investing directly in companies, often supported by dedicated internal sourcing teams and formal investment processes.
“These capabilities help family offices evaluate opportunities more systematically, manage risk more effectively and remain disciplined during periods of market uncertainty,” Kamath explains.
In managing risk, the survey suggests that family offices are responding to uncertainty through active management and risk mitigation rather than broad portfolio retrenchment, he notes. Following market volatility related to geopolitical developments in the Middle East, for instance, 41 per cent made no major strategy changes. Those that reacted were more likely to use active management (34 per cent) or hedging strategies (27 per cent) than wholesale portfolio repositioning.
“The report also shows a growing adoption of formal governance and risk-management structures,” Kamath says. Nearly half of the family offices surveyed report having a formal risk-management framework in place, “while many others are actively developing one. Overall, risk management appears to be evolving from a defensive exercise into a capability that allows family offices to stay invested while navigating uncertainty.”
The challenge of transition
The urgency around succession and generational transition is particularly noteworthy, Kamath says. The most commonly cited challenges include an unclear succession plan, insufficient preparedness of future leaders and lack of clarity about future roles.
“The survey suggests families increasingly recognize that succession is not a single event, but an ongoing process requiring governance, communication, leadership development and next-generation engagement,” he adds. Common strategies include participation in family meetings, involvement with advisors, governance observation, coaching and structured education programs.
Mary Gooderham is a writer, editor and communication advisor based in Ottawa. She leads Cohen Gooderham Communications and has worked as a journalist for more than 40 years at The Globe and Mail, as a recording officer at the International Monetary Fund and as a custom content creator for online and print media. She’s been a contributing writer at Canadian Family Offices for four years, focusing on investment strategy, trusts, philanthropy, women in finance and estate planning.
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