Bank of America Family Office Study: Next Generation Set to Reshape Family Offices
PR Newswire•20/10/2026•09:00 ET
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Key Highlights
- ➤79% expect alternative investments to take a larger portfolio share with next-generation principals
- ➤83% have identified a successor, but only 27% have trust distribution policies
- ➤59% plan to increase private-equity exposure over the next three years
- ➤77% expect the next generation to show greater interest in using credit to build wealth
- ➤42% report regular employee AI use, while 80% see potential to improve investment returns
Expert Statements
Elizabeth Thiessen, Head of Family Office at Bank of America Private Bank
“Today's family offices are building for the future while balancing continuity and changes today,”
Elizabeth Thiessen, Head of Family Office at Bank of America Private Bank
“The families best positioned in this transition recognize that preparation goes well beyond identifying the next leader. It requires strong governance, a shared vision and the ability to adapt to changing opportunities and priorities across generations.”
Bank of America Family Office Study: Next Generation Set to Reshape Family Offices PR Newswire
A quarter have seen a transition within the last decade, and among those offices, only 37% said their incoming principal was very prepared.
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