October '24 Family Office & RIA/Broker Dealer Data Report

Every month, the FINTRX 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 growth, we've compiled a monthly Family Office & RIA/Broker Dealer Data Report for October 2024, showcasing key metrics such as new and updated firms and contacts, AUM breakdowns, alternative investments utilized, geographic distributions and more.

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Family Office Data

October '24 Platform Additions & Updates

Throughout October, our data and research team added 70+ new family offices, nearly 870 family office contacts and over 220 direct investment transactions to our Family Office Dataset. 

• - New Family Offices: 75
• - New Family Office Contacts: 869
• - Newly Tracked Family Office Investments: 228
• - Family Office Assets Added to FINTRX: $158.75 billion
• - Updated Family Offices: 2,740
• - Updated Family Office Contacts: 2,525

Single Family Offices vs. Multi-Family Offices

Throughout October, 63% of newly added firms are single family offices while the remaining 37% are multi-family offices.

Assets Under Management (AUM) Breakdown

Asset Class Interest Breakdown

Direct investments in private companies continue to dominate as the leading asset class for newly added family offices month after month, with private equity, real estate, and venture capital consistently following close behind.

Family Office Geographical Breakdown

The FINTRX family office dataset saw the majority of new family office additions headquartered in North America, representing 51% of all firms. Asian family offices followed, making up 27% of new additions. Middle Eastern offices accounted for 9%, while European offices held steady at 8%. The remaining additions were distributed across Latin America and the Caribbean at 4% and Oceania at just 1%.

Newly Tracked Family Office Investments

Top 10 Sectors of Interest

FINTRX data reveals that 50% of the newly tracked family office investments were directed toward private technology companies. Healthcare and life Sciences followed with 29% of tracked investments. Additional sectors of interest include Consumer Discretionary, Financial Services, and Business & Professional Services.

Registered Investment Advisor & Broker Dealer Data

• - Registered Entities: 180+
• - Registered Contacts: 4,800+
• - Total Accounts: 2,650+
• - Firms Using Alternatives: 68%
• - Total AUM Added by New Firms: ~$40.2 Billion

Accounts Breakdown

Among the newly added advisory firms, 98% of accounts are discretionary,  with the remaining 2% being non-discretionary. This ongoing preference for discretionary accounts highlights the firms' focus on retaining control over investment decisions.

Contact Breakdown by Rep Type

Among the newly added representatives, 81% are registered as broker-dealers, representing a 5% decline from Q3. Additionally, 10% are registered as investment advisors, 6% are classified as owner-only representatives, and the remaining 3% hold dual registrations.

Rep Gender Breakdown

71% of the newly added representatives are male while 29% are female, ultimately maintaining similar ratios month after month. 

Client Base Breakdown

The October additions revealed that 70% of the client base consists of institutional clients, while individual and family clients make up the remaining 30%.

Firm Size by Assets Under Management (AUM)

42% of newly added firms are categorized as 'Mid-Size,' managing $100 million to $500 million in client assets.

• - Micro ($1-$25M): 25%
• - Small ($25M-$100M): 8%
  
• - Mid-Size ($100M-$500M): 42%
  
• - Large ($500M-$5B): 21%
  
• - Jumbo ($5B+): 4%

Services Provided

Portfolio management for individuals and small businesses remains the leading service, offered by 71% of firms—a 19% increase from Q3. Financial planning services follow closely, provided by 56% of firms, marking an 18% rise from the previous quarter.

Other noteworthy offerings, each representing 23% or less, include portfolio management for businesses and institutions, advisor selection, portfolio management for pooled investment vehicles, and more. This diversity highlights the industry's commitment to delivering various services tailored to meet clients' evolving needs.

Alternative Investments Utilized

The majority (67%) of newly added investment advisory firms allocated a portion of their portfolios to real estate. Smaller segments showed interest in private equity, private placements and commodities, among other asset classes.

FINTRX Overview

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 4,200+ family offices, 24,000+ family office contacts, 40,000+ registered wealth management firms and 760,000+ reps and associated contacts, FINTRX offers unparalleled access to accurate & actionable information on the global wealth management ecosystem. 

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.