The family office landscape is shifting, and the data makes it clear. Released in February 2026, the J.P. Morgan Private Bank 2026 Global Family Office Report offers one of the most comprehensive looks yet at how the world's wealthiest families are investing, operating, and planning for the future. Drawing on insights from 333 single-family offices across 30 countries, with an average net worth of $1.6 billion per respondent, the findings paint a picture of an industry navigating significant change.

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What Are the Biggest Risks for Family Offices in 2026?

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According to the report, 64% of family offices cite geopolitics as their number one risk. Yet most maintain limited allocations to traditional hedges like gold. The gap between perceived risk and portfolio positioning suggests that family offices are navigating uncertainty without a clear consensus playbook, creating demand for more sophisticated risk visibility and reporting tools.

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Are Family Offices Investing in AI?

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This is one of the report's most striking findings. While 65% of family offices intend to prioritize AI, over 70% currently have zero investments in infrastructure, which is the very backbone AI depends on. Data centers and digital infrastructure are critical to AI's advancement, yet family offices remain significantly underexposed. The ambition is there, but the execution is lagging.

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This gap extends into day-to-day operations as well. As family offices modernize, technology platforms and cybersecurity have become top service needs, with 32% citing cybersecurity as their greatest technology priority.

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How Much Are Family Offices Outsourcing?

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Outsourcing has become a defining operational strategy. The report found that 80% of family offices outsource at least some aspect of portfolio management. For offices managing $1 billion or more in assets, over one-third outsource more than half of their portfolios. The most commonly outsourced functions are legal services (52%), trading and market execution (45%), and cybersecurity (38%).

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Notably, cost reduction is not the primary driver. According to J.P. Morgan's findings, only 28% of offices cited reducing costs as a main reason. The bigger driver is a talent shortage. Family offices simply cannot compete with private equity and hedge funds when building out internal investment teams.

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How Much Does It Cost to Run a Family Office in 2026?

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Family offices with at least $1 billion in assets now spend an average of $6.6 million in annual operating costs, up from $6.1 million in 2024. Investment talent compensation is the largest cost driver, and the competition for that talent is intensifying. As family offices grow more complex, the operational and financial burden of managing wealth is growing alongside them.

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What Role Does Succession Planning Play for Family Offices?

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With generational wealth transfer accelerating, the report identifies succession planning and governance as critical strategic priorities. About six in ten families globally have an operating company running alongside their family office, adding another layer of complexity to an already intricate structure. Overreliance on a single individual or provider was flagged as one of the most commonly cited risks to long-term effectiveness.

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The Bottom Line

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The 2026 J.P. Morgan Family Office Report points to one consistent theme: the gap between ambition and execution is widening. Whether the focus is AI adoption, cybersecurity investment, or succession planning, family offices recognize what needs to be done. The infrastructure, talent, and technology to act on it are still catching up.

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For fintech and wealth management technology providers, that gap is the opportunity.

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