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

Download the Report

Family Office Data

August '24 Family Office Platform Additions

Last month, our data and research team added 38 new family offices, nearly 580 family office contacts and over 200 direct investment transactions to our Family Office Dataset. 

• - New Family Offices: 38
• - New Family Office Contacts: 458
• - Newly Tracked Family Office Investments: 134
• - Family Office Assets Added to FINTRX: $68.575 billion
•  

Updated Family Office Entities

Alongside 630 new platform additions, FINTRX implemented 2,450 updates to our family office dataset, including 540+ firm updates and more than 1,900 contact updates.

• - Updated Family Offices: 540
• - Updated Family Office Contacts: 1,909

Single Family Offices vs. Multi-Family Offices

Throughout August, 79% of newly added firms are single family offices while the remaining 21% are multi-family offices.

• - New Single Family Office Additions: 30
• - New Multi-Family Office Additions: 8

Assets Under Management (AUM) Breakdown

• - $50M - $100M: 6%
  
• - $100M - $400M: 44%
  
• - $400M - $1B: 38% 
  
• - $1B - $2B: 6%
  
• - $2B - $5B: 6%

Asset Class Interest Breakdown

Nearly 90% of firms are actively engaged in direct investments in private companies, with real estate investments following at 74%. Other notable asset classes include private equity, venture capital and long-only equities.

• - Direct Investments: 87%
  
• - Real Estate: 74%
  
• - Private Equity: 63%
• - Venture Capital: 47%
  
• - Long Only: 37%
  
• - Debt: 24%
  
• - Hedge Funds: 21%
  

Family Office Geographical Breakdown

The majority of family offices added to the FINTRX dataset are based in North America, accounting for 86% of all firms. European offices follow at 8%, with Latin America/Caribbean and Oceania each representing 3%. This highlights the ongoing dominance of North American firms in the industry.

• - Europe: 8%
  
• - Latin America/Caribbean: 3%
  
• - Oceania: 3%

Newly Tracked Family Office Investments

Top 10 Sectors of Interest

According to FINTRX family office data, the majority of newly tracked family office investments were directed toward private technology companies, accounting for 48% of the total—a 4% increase from last month. Other key sectors of interest included healthcare and biotechnology, financial services and business services, among others.

• - Technology: 48%
• - Healthcare & Biotech: 28%
• - Financial Services: 20%
  
• - Business Services: 14%
  
• - Manufacturing: 13%
• - Consumer Goods: 9%
• - Energy & Utilities: 7%
  
• - Real Estate & Construction: 5%
• - Media & Entertainment: 5%
• - Transportation: 4%
• - Other Sectors: 14%

Registered Investment Adviser & Broker Dealer Data

• - Total Registered Entities: 280+
• - Total Registered Contacts: 10,360+
• - Total Accounts: 1,200+
• - Firms Using Alternatives: 58%
• - Total AUM Added by New Firms: $26.4 Billion

Accounts Breakdown

Among the newly added advisory firms, 83% of accounts are discretionary, marking a 10% decrease from last month, with the remaining 17% being non-discretionary. This ongoing preference for discretionary accounts highlights the firms' focus on retaining control over investment decisions.

• - Total Accounts Added: 1,206

Contact Breakdown by Rep Type

Of the newly added reps, 86% are registered as broker-dealers, reflecting an 11% increase from last month. Meanwhile, 7% are registered as investment advisors, 4% are designated as owner-only representatives and the remaining 3% hold dual registrations.

• - Broker-Dealers: 8,882
• - Investment Advisors: 761
• - Owners: 410
• - Dually Registered: 316
  

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 August additions revealed that 88% of the client base consists of institutional clients, while individual and family clients make up the remaining 12%.

Firm Size by Assets Under Management (AUM)

70% of firms are classified as 'Mid-Size,' managing between $100 million and $500 million in client assets—an increase of 15% from last month.

• - Micro ($1-$25M): 12%
• - Small ($25M-$100M): 4%
  
• - Mid-Size ($100M-$500M): 70%
  
• - Large ($500M-$5B): 12%
  
• - Jumbo ($5B+): 2%

Services Provided

Portfolio management for individuals and small businesses continues to be the most prominent service, offered by 52% of firms. Financial planning services followed at 38%. Other notable offerings, each representing 21% or less, include portfolio management for pooled investment vehicles, portfolio management for businesses and institutions, advisor selection and several others. It's important to note that firms typically offer various services to accommodate their clients' diverse needs.

Top Services Provided:

1. - Portfolio Management for Individuals/Small Businesses: 52%
2. - Financial Planning Services: 38%
3. - Portfolio Management for Pooled Investment Vehicles: 21% 
4. - Portfolio Management for Businesses/Institutions: 15%
5. - Selection of Other Advisors: 14%
6. - Pension Consulting Services: 11%
   
7. - Educational Seminars/Workshops: 4%
8. - Publication of Periodicals/Newsletters: 2%
9. - Portfolio Management for Investment Companies: 1%

Alternative Investments Utilized

The majority (66%) 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 hedge funds, among other asset classes.

• - Real Estate: 66%
• - Private Equity: 37%
  
• - Private Placements: 31%
• - Hedge Funds: 25%
• - Commodities: 22%
• - Venture Capital: 22%
• - Oil & Gas: 18%
  
• - Corporate Debt: 11%
• - REITs: 7%
• - Digital Currency: 6%
  
• - Private Debt: 5%
  
• - Collateralized Debt: 4%

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 4,100+ 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.