Every month, the FINTRX Wealth Management Data & Research Platform adds and updates thousands of family offices, investment advisory firms, contacts/reps, and an array of investment information to our dataset. In an effort to highlight this continuous growth, we've compiled this monthly Family Office & RIA/Broker Dealer Data Report for July 2024, showcasing key metrics such as new and updated firms and contacts, AUM breakdowns, alternative investments utilized, geographic distributions and more.
Last month, our dedicated Data & Research team added 31 new family offices, nearly 580 family office contacts and over 200 direct investment transactions to our Family Office Dataset.
Alongside 785+ new platform additions, FINTRX also implemented nearly 2,300 updates to our family office data, including 480+ firm updates and more than 1,800 contact updates.
Throughout July, 77% of newly added firms are single family offices while the remaining 23% are multi-family offices.
44% of newly added firms manage client assets ranging from $100M to $400M, while 38% are family offices overseeing assets between $400M and $1B.
The majority of newly added firms (84%) are actively involved in real estate investments. Direct investments into private companies followed at 74%. Other prominent asset classes include private equity, long only equities and venture capital, among others.
The majority of family offices added to FINTRX are headquartered in North America, making up 94% of firms—an increase of 19% from last quarter. European and Asian offices follow, each representing 3% of the total. This underscores the continued dominance of North American firms.
FINTRX data reveals that the majority of newly tracked family office investments were directed toward private technology companies, representing 44% of the total. Other sectors of interest included financial services, consumer goods, healthcare, and biotechnology, among others.
Among the newly added advisory firms, 93% of their accounts are discretionary, leaving just 7% as non-discretionary. This strong preference for discretionary accounts reflects the firms' emphasis on maintaining control over investment decisions.
75% of newly added contacts registered as broker-dealers while 14% registered as investment advisors. Just 8% are designated as owner-only representatives and a mere 3% are dually registered.
71% of the newly added representatives are male while 29% are female, ultimately maintaining similar ratios month after month.
The July additions revealed that 87% of their client base comprises institutional clients, with individual and family clients accounting for the remaining 13%.
55% of RIAs fall under the 'Mid-Size' category, managing between $100 million and $500 million in client assets.
Portfolio management for individuals and small businesses remains the leading service, making up 58% of newly added firms. Following this, financial planning services account for 45%. Other key offerings, each representing 17% or less, include portfolio management for businesses and institutions, as well as adviser selection. It’s important to note that firms typically provide a variety of services to cater to their clients' diverse needs.
A majority (82%) of the newly added investment advisory firms displayed some allocation to real estate within their investment portfolios. Smaller fractions displayed interest in commodities, private placements, private equity, and oil & gas, among others.
FINTRX is a unified data and research platform, offering extensive data intelligence on 850,000+ wealth management firm & contact records, designed to enhance industry professionals’ ability to access, map and engage with the global wealth management ecosystem. With an extensive database of 4,100+ family offices, 23,000+ family office contacts, 40,000+ registered wealth management firms and 750,000+ reps and associated contacts, the FINTRX data intelligence solution offers unparalleled access to accurate & actionable information on the wealth management space.
FINTRX is designed to be user-friendly, with a variety of features including custom list building, news alerts and notifications, real-time updates and customizable reporting options. Additionally, new AI-powered features such as natural language search capabilities and advanced relationship intelligence empower users to leverage the most accurate and relevant family office and investment advisor data to prospect more efficiently, book more meetings and close more deals.