Australia in fastest-growing region for family | Australian Markets

Australia accounts for solely a tiny proportion of family workplaces globally, however the Asia Pacific region is the fastest-growing in phrases of family workplace institutions.

According to a new world report on family workplaces, Australia and Hong Kong are home to probably the most family workplaces in the region.

The Family Office Operational Excellence Report 2025 compiled by UK-based Campden Wealth and AITI Tiedemann Global stated the tempo of high-net-worth wealth creation is quickest in APAC, noting that 78% of family workplaces in the region have been based in the final 15 years.

It stated that is almost double the speed of new family workplace creation in Europe and North America and helps clarify why a considerably greater proportion of family workplaces in the region are nonetheless led by first-generation wealth holders.

“The importance of family business cannot be overstated in Asia-Pacific,” the report stated. “80% of families own an operating business which is often the original source of wealth and still a major contributor to it.”

“It’s common for their family offices to be embedded in these businesses and consequently Asia-Pacific families have the smallest per centage of traditional standalone family offices.” The report stated.

Unsurprisingly, the report makes clear that family workplaces are typically bigger and longer-established in North America whereas Europe and the Asia-Pacific are skewed in the direction of smaller family workplaces.

The survey more broadly discovered that expertise stays the only largest working expense and a high precedence for family workplaces.

“While more than 80% of family members express satisfaction with their dedicated staff, and three out of four believe that in-house teams deliver the most timely and high-quality results, finding and retaining qualified professionals is increasingly difficult,” the report stated.

“The pool of experienced candidates continues to shrink, leaving family offices vulnerable to retirements and departures, with 70% of family offices reporting difficulty hiring, while 65% are concerned about retaining key staff.”

Looking at wealth planning, the report stated property planning in family workplaces is characterised by close collaboration between in-house employees and exterior professionals.

“Families also frequently engage with tax accountants and, to a lesser extent, life insurance advisors, reflecting a holistic approach to wealth transfer and protection of assets,” it stated.

“There is a sturdy want to outsource even more property planning work because of evolving regulatory environments and a growing give attention to formalising governance by means of well-documented plans.: