The world always has more ultra rich. This is evidenced by the last annual Forbes classification that identified 3,028 billionaires worldwide in 2025 for a total wealth of 16,100 billion dollars. An unprecedented bread and especially blessed for heritage administrators, increasingly asked.
Problem: The increase in the number of great fortunes (and their wealth) is such that the personnel of the assembly management advisors could soon be insufficient to meet the demand, according to CNBC, which transmits a study conducted by McKinsey published last February and entitled “The imminent shortage of advisors in the management of wealth in the United States.”
“Questions remain regarding the adaptation of supply to this high demand,” writes the cabinet. And for a good reason, the personnel of the Assembly Management Advisors have only increased by 0.3% per year in the United States in the last ten years and should even decrease by 0.2% in the coming years due to the most numerous retirees than recruits.
Therefore, the sector could face a shortage of 90,000 to 110,000 advisors for 2034, “or 30 to 37% of the current workforce,” according to McKinsey.
Family offices are struggling to recruit
The trend visibly only refers to the United States. Also in Europe, the difficulties in finding advisors in heritage management are progressing. Not only due to the increase in the number of ultra rich, but also by the skills considered too limited for candidates for 36% of the family offices interviewed by HSBC.
Family offices are really very demanding in recruitment: “In the world of family offices, it is not often the most competent person obtained by the position, but the one we have the most confidence,” explains CNBC Tobias Prestel, CEO of Prestel and associated family office conferences. “If you have $ 500 million, who do you trust? Who are you trusting? This is not an easy decision,” he adds.
The number of family offices is expected to progress in the future. According to Deloitte, there were 8,030 worldwide in 2019, representing 3,100 billion dollars in administered assets. In 2030, the Cabinet table at 10,720 family offices with $ 5,400 billion in assets.
Consequently, the recruitment of assets of Heritage Management will constitute an “important challenge” in the coming years, judges an RBC and Campden Wealth report on the family offices of North America, which will have to recruit the best talents despite the competition of banks, capital investment companies and intertwined funds.
Source: BFM TV
