Research from the UK-based financial services firm Ocorian found that family office founders and their next-generation heirs vary greatly on their interest in investing in digital assets.
Investing in digital assets such as bitcoin or other cryptocurrencies was identified by 68% of respondents as the biggest generational difference in investment priorities, followed by 52% highlighting differences in environmental, social and governance principles (ESG) and impact investing. Ocorian surveyed 60 family office professionals working across the U.S., Canada, Bermuda and the Cayman Islands.
“Differences in approach and priorities between founders and the next generation in family offices are inevitable and natural but can lead to issues if not handled with skill and precision,” said Fredrica Evans, head of trust services at Ocorian.
Advisers and family offices that invest in digital assets will typically allocate around 1% to 3% of their clients' portfolios into those assets, Kristen Mirabella of Eaglebrook Advisors recently told Crain Currency. A 2023 report from Goldman Sachs found that 32% of family offices had invested in digital assets, an increase from 16% in 2021.
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