Every month, the FINTRX Family Office & RIA Database adds and updates thousands of family offices, registered investment advisors (RIAs), decision-makers and an array of investment information to our extensive private wealth dataset. To illustrate this growth, we have compiled the Monthly Family Office & RIA Data Report for February 2024, showcasing key metrics such as assets under management (AUM), alternative investments, fee models, geographic distributions, separately managed accounts, direct transactions by family offices, services offered by RIAs and more.
The FINTRX Data & Research team added 40+ new family offices, 750+ family office contacts and nearly 300 direct investment transactions to our Family Office Dataset.
In addition to 1,090+ platform additions, FINTRX made over 3,700 family office updates including 460+ firm updates and 3,330+ contact updates.
61% of newly added firms in February are single family offices (SFOs) while 39% are multi-family offices (MFOs).
A majority (44%) of family offices added in February manage between $400 million and $1 billion in assets on behalf of their clients. A combined 38% of added firms manage between $50 million - $100 million and $100 million - $400 million.
FINTRX continued to see a majority of firms (70%) allocating via direct investments into private companies. Other prominent asset classes include long only equities, real estate and private equity.
The vast majority of family offices added to the FINTRX Family Office Dataset in February are headquartered in North America, accounting for 61% of total firms. European offices accounted for roughly 27%, up 5% from last month. Asia and Latin America/Caribbean made up 5% of new offices, respectively, with Oceania making up the remaining 2%.
Throughout February, FINTRX continued to see a majority of newly tracked family office investments made into private technology companies, which accounted for 114 direct transactions of the nearly 300 tracked investments. Other top sectors of interest included healthcare & biotechnology, consumer goods and financial services.
The FINTRX RIA dataset saw a significant addition of discretionary accounts to our dataset in February, making up 93% of new accounts added.
A majority (73%) of the newly added RIA representatives have registered as broker-dealers. Additionally, 14% of the additions are registered as investment advisors, while 11% are classified as owner-only representatives. A smaller segment, comprising just 2%, consists of dually registered contacts.
The distribution of genders among RIA representatives indicates the ratio of male to female registered advisors. As depicted below, in February, 72% of the newly added representatives are male, and 28% are female, maintaining the same ratio as last month.
The February additions to the FINTRX RIA dataset revealed a significant 75% of their client base consists of institutional clients, while individual and family clients make up just 25%. This highlights the strong institutional focus of these RIA firms, showcasing their expertise and dedication in serving this segment of the market.
Nearly half (47%) of newly added RIA firms fall under the 'micro' category, managing assets between $1 and $25 million.
Portfolio management for individuals and small businesses remains the leading RIA service, at nearly 80%. Financial planning services followed at 57%. Other popular RIA service options include selection of other advisors, portfolio management for businesses and institutions and portfolio management for pooled investment vehicles, all making up 20% or less, respectively. It is important to note that RIA firms typically offer more than one service.
Nearly 60% of newly-added RIA firms displayed some allocation to real estate within their investment portfolios. Smaller fractions displayed interest in private placements, hedge funds, private equity and commodities, among various other alternative investments.
FINTRX - the leading family office and registered investment advisor (RIA) data intelligence platform - covers 4,000 family offices, 21,000+ family office contacts, 40,000+ RIA entities, 750,000+ registered reps, as well as 16,000+ private wealth groups. Equipped with 375+ advanced search filters and numerous customization features, FINTRX allows you to seamlessly track where family office & investment advisor capital is flowing, uncover allocation trends, break down investments by sector & size, understand future investment plans and much more.
FINTRX offers comprehensive profiles on each family office and investment advisor, enabling financial professionals to gain insights into assets under management, wealth origins, investment preferences, historical investments, favored sectors and industries, among other valuable information. Data for each record is sourced from 10+ public & private sources.