The Growing Influence of Women in Family Offices

Family offices, private wealth management firms serving ultra-high-net-worth families, have traditionally been male-dominated. However, there has been a notable increase in women assuming leadership roles within these organizations in recent years.

As women continue to shatter the glass ceiling in finance and entrepreneurship, their growing influence in family offices is changing the industry landscape and bringing new perspectives and approaches to wealth management.

This trend is not only a reflection of the shifting gender dynamics within the industry. But also a recognition of the unique strengths and insights that women can bring to this field. In this context, it is important to examine the factors driving this change, the challenges women still face, and the opportunities for female leaders in family offices.

The Changing Landscape of Family Offices

The landscape of family offices is undergoing significant changes, driven by factors such as increased wealth, portfolio diversification, and global finance.

Growth in the Number and Size of Family Offices

Over the past few decades, there has been significant growth in the number and size of family offices. According to a report by EY, the number of family offices has grown by over 38% in the past two years alone.

This growth is primarily due to the increased wealth of high-net-worth families and individuals seeking customized and comprehensive wealth management solutions. Additionally, family offices are becoming more accessible to a broader range of clients, including those with smaller portfolios.

Increased Diversification of Family Offices

Family offices diversify their portfolios beyond traditional investments such as stocks and bonds, to include alternative assets, such as private equity, hedge funds, and real estate. This diversification aims to generate higher returns and reduce risk through increased exposure to non-correlated asset classes. Moreover, family offices increasingly invest in impact and socially responsible investments, aligning their investments with their values.

Growing Importance of Family Offices in Global Finance

Family offices are increasingly important in global finance due to their significant financial resources and long-term investment horizons. Family offices have become important sources of capital for private equity firms, venture capital firms, and other alternative investment managers.

Moreover, family offices are becoming more involved in philanthropy and impact investing, shaping the landscape of social finance. As such, family offices are becoming key players in shaping the future of finance, and their influence is only expect to grow.

The Role of Women in Family Offices – growing influence

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Women are playing an increasingly significant role in family offices, which have traditionally been male-dominated.

Historical Background

Family offices have been male-dominated for decades, with men occupying the majority of leadership roles. However, the trend has been shifting in recent years. And there is an increasing number of women taking up leadership roles in family offices.

This shift can be attribute to various factors, including changing societal attitudes towards gender equality, women’s education and career opportunities, and women’s growing influence in managing family wealth.

Current Status of Women in Family Offices

Despite the progress, women are still underrepresented in family offices. A study by the Family Office Exchange found that only 15% of family offices have a female CEO, and women occupy just 20% of senior leadership positions. Nevertheless, the number of women in family offices is increasing, with many family offices recognizing the unique perspectives, skills, and contributions that women bring to the table.

Factors Driving the growing influence of Women in Family Offices

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Several factors are driving the increasing influence of women in family offices.

  • The demand for diversity in decision-making is increasing in family offices, supported by research indicating that diverse teams make better investment decisions.
  • Women inherit and manage more significant amounts of family wealth, giving them the power to take on leadership roles in family offices.
  • Women have demonstrated strength in relationship-building, emotional intelligence, and collaboration, essential skills in family office management.
  • Family offices recognize the importance of promoting gender diversity and equity in the workplace, including in finance and investment management, contributing to the increasing influence of women in family offices.
  • Increasingly, women are seeking careers in finance and wealth management, leading to a greater pool of talented women in the industry.
  • Women in leadership often bring new perspectives and ideas to family office management, leading to more innovative and successful strategies.
  • Gender diversity in family office leadership can also improve family dynamics. It can promote a better understanding of different family members’ unique needs and goals.

How Women’s Leadership Style Differs from That of Men?

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The leadership styles of men and women differ in various ways, including communication, decision-making, risk-taking, relationship-building, and leadership approach. Recognizing and valuing these differences is important for promoting gender diversity and equity in family offices.

Communication Style

Research indicates that women’s leadership style is more collaborative, while men’s is more direct and assertive. Women are more likely to ask for opinions, provide positive feedback, and build consensus. On the other hand, men are more likely to give directives, negotiate from a position of strength, and provide critical feedback.

Decision Making

Women are more likely to take a consensus-building approach to decision-making. While men may be more likely to make unilateral decisions. Women tend to weigh a broader range of perspectives and take a long-term perspective when making decisions. While men may focus more on short-term outcomes and financial performance.


Studies show that women are more risk-averse than men regarding financial decision-making. Women in growing influence may be more cautious in their investment strategies and more likely to consider downside risks. In contrast, men may be more willing to take on higher risks in pursuit of higher returns.

Relationship Building

Women often excel in relationship building and empathy, which can be highly valuable in family offices. Women may develop and maintain long-term relationships with clients and stakeholders better. They are also more likely to prioritize interpersonal relationships and team cohesion over individual performance.

Leadership Approach

Women may adopt a more transformational leadership approach, emphasizing mentoring and coaching. While men may be more transactional, focusing on goal-setting and performance metrics. Women may be more focused on developing the potential of their team members and building a supportive work environment. While men may prioritize individual achievement and competitive success.

Understanding these differences in leadership styles is critical to promoting gender diversity and equity in family offices. Family offices can build more inclusive and successful teams by recognizing and valuing the unique strengths and perspectives of both men and women.


The family office industry is experiencing a positive shift towards greater gender diversity in leadership roles. This change is being propelled by shifting social norms and the growing recognition of women’s value in managing family wealth and relationships.

As more young women are encouraged to pursue careers in finance and investment, the trend of women assuming leadership positions in family offices is expected to gain further momentum.