November '23 Family Office & RIA Monthly Data Report

Each month, FINTRX Family Office & Registered Investment Advisor (RIA) Platform adds and updates thousands of family office, investment advisor, contact, tracked investment and asset datapoints to our dataset. To showcase this model of growth and provide a high-level synopsis of the private wealth landscape, we have compiled our monthly Family Office & Registered Investment Advisor Data Report for November 2023. This report offers an inside look at all FINTRX platform updates and additions made throughout the last month with metrics such as assets under management (AUM), alternatives utilized, fee structures, geographic breakdowns, separately managed accounts, family office direct transactions, RIA services provided and more. 

November '23 FINTRX Family Office & RIA Data Report

Download the Report

November '23 Family Office Data

Family Office Platform Additions

The FINTRX Data & Research team added 55 new family offices, 470+ family office contacts and 680 direct investment transactions to our Family Office Dataset. 

• - New Family Offices: 55
• - New Family Office Contacts: 477
• - Newly Tracked Family Office Investments: 680

Updated Family Office Entities

In addition to 1,210+ platform additions, FINTRX made nearly 4,980 family office updates including 490 firm updates and 4,580+ contact updates. 

• - Updated Family Offices: 390
• - Updated Family Office Contacts: 4,589

Single Family Offices vs. Multi-Family Offices

67% of newly added firms in October were single family offices (SFOs) while 32% were multi-family offices (MFOs).

• - New Single Family Office Additions: 67%
• - New Multi-Family Office Additions: 32%

Assets Under Management (AUM) Breakdown

A majority (57%) of family offices added in November manage less than $400 million in assets on behalf of their clients. Only 6% of added firms manage more than $5 billion.

• - $50M - $100M: 18%
  
• - $100M - $400M: 39%
  
• - $400M - $1B: 12% 
  
• - $1B - $2B: 9%
  
• - $2B - $5B: 15%
  
• - $5B+: 6%

Asset Class Interest Breakdown

]For the newly added family offices, direct investment into private companies remained the top asset class at 82% of firms. Private equity followed at 44% and real estate was third at 36%.

• - Direct Investments: 82%
  
• - Private Equity: 44%
  
• - Real Estate: 36% 
  
• - Long Only: 27%
  
• - Venture Capital: 22%
  
• - Debt: 15%
  
• - Hedge Funds: 7%
  
• - Fund of Funds: 7%

Family Office Geographical Breakdown

European firms accounted for the majority of family offices added in November at 51% of offices, followed by North American offices at 43%. The remaining regions, Asia & Middle East and Latin America/Caribbean, made up the remaining family offices.

• - North America: 43%
• - Asia & Middle East: 4%
  
• - Latin America/Caribbean: 2%

Newly Tracked Family Office Investments

Top 10 Sectors of Interest

The large majority of new family office investments tracked in November were made into Technology companies, accounting for more than 350 direct transactions. Other top sectors of interest included financial services, business services, healthcare & biotechnology and consumer goods.

• - Technology: 52%
• - Financial Services: 24%
  
• - Business Services: 17%
• - Healthcare & Biotech: 14%
• - Consumer Goods: 10%
  
• - Media & Entertainment: 8%
• - Manufacturing: 7%
• - Real Estate & Construction: 5%
• - Transportation: 4%
• - Education: 4%
  
•  

November '23 Registered Investment Advisor (RIA) Data

• - Total Registered Entities (including Dually Registered): 157
• - Total Registered Contacts: 4,460+
• - Total Accounts: 2,940+
• - Firms Using Alternatives: 107 or 68%
• - Total AUM Added by New Firms: $12.2 Billion

Accounts Breakdown

The FINTRX RIA dataset continued to se a significant addition of discretionary accounts in November, making up 99% of new accounts added.

• - Total Accounts Added: 2,940+

Contact Breakdown by Rep Type

A majority (81%) of newly added RIA representatives are registered as broker-dealers. Smaller segments included those registered as investment advisors at 11%, while owners and contacts dually registered as IAs & broker dealers made up a combined 8%.

• - Broker-Dealers: 3,625
• - Investment Advisors: 501
• - Owners: 255
• - Dually Registered: 85
  

Rep Gender Breakdown

The gender breakdown of RIA representatives refers to the proportion of male and female registered advisors. As you can see below, 71% of reps added in November were male while 29% were female. 

• - Male Reps: 71%
• - Female Reps: 29%

RIA Client Base Breakdown

There was an even distribution of institutional clients (50%) versus individuals (50%) amongst the RIA firms added to FINTRX in November.

• - Institutional Clients: 50%
  
• - Individual & Family: 50%

Firm Size by Assets Under Management (AUM)

The size of an RIA firm can be measured by its assets under management (AUM), or the total value of assets the firm oversees on behalf of its clients. November saw a dramatic shift towards smaller firms, with a majority (54%) of new RIAs classified as 'Micro' groups, with assets under management between $1 and $25M.

• - Micro ($1-$25M): 54%
• - Small ($25M-$100M): 8%
  
• - Mid-Size ($100M-$500M): 8%
• - Large ($500M-$5B): 23%
  
• - Jumbo ($5B+): 7%
  

RIA Services Provided

Of the new RIA firms incorporated into the FINTRX dataset, 72% offer portfolio management for individuals and small businesses, while 58% provide financial planning services. It is important to note that RIA firms typically offer more than one service.

Top RIA Services Provided:

1. 1. Portfolio Management for Individuals/Small Businesses: 72%
2. 2. Financial Planning Services: 58%
3. 3. Selection of other Advisors: 25% 
4. 4. Portfolio Management for Businesses/Institutions: 22%
5. 5. Educational Seminars/Workshops: 14%
6. 6. Portfolio Management for Pooled Investment Vehicles: 14%
7. 7. Pension Consulting Services: 10% 
8. 8. Publication of Periodicals/Newsletters: 2%
9. 9. Portfolio Management for Investment Companies: 1%
10. 10. Market Timing Services: 1%

Alternative Investments Utilized

The most popular alternative investment amongst newly-added RIA firms in November was real estate, with 68% including it in their investment portfolios. A smaller portion displayed interest in private placements (45%), hedge funds (37%) and private equity (23%). November also saw an increase in allocation toward commodities, with 22% of firms displaying interest.

• - Real Estate: 68%
• - Private Placements: 45%
  
• - Hedge Funds: 37%
• - Private Equity: 23%
• - Commodities: 22%
• - Venture Capital: 18%
• - Oil & Gas: 18%
  
• - REITs: 16%
• - Digital Currency: 11%
• - Corporate Debt: 11%
• - Fund of Funds: 5%
  
• - Private Debt: 4%
• - Collateralized Debt: 3%
• - Managed Futures: 2%
  
•  

FINTRX Overview

FINTRX is a unified data & research platform providing comprehensive data intelligence on 850,000+ family office & investment advisor records, each designed to help asset-raising professionals identify, access & map the global private wealth ecosystem. FINTRX data intelligence covers nearly 4,000+ family offices, 21,000+ family office contacts, 40,000+ registered investment advisor entities, and 746,000+ registered reps. Data for every record within FINTRX is pooled from 10+ public & private sources.

Equipped with 375+ search filters and numerous customization options, FINTRX allows you to seamlessly track where family office & investment advisor capital is flowing, uncover allocation trends, break down investments by sector & size, understand future investment plans and much more.