The top asset classes for investment by single and multifamily offices in the U.S. were private equity and hedge funds, according to a new study.
The study, by New York-based family office data and research firm Fintrx, and commissioned by Schwab Advisor Services, surveyed 11,000 family office professionals from 2,750 family offices globally.
Among those surveyed, the top origins of wealth were private investing at 21.3%, entrepreneurs at 19.3% and inheritances at 14.3%.
Forty-two percent of the family offices tracked by the study had assets of over $1 billion, while 75% had assets over $100 million.
Meanwhile, the top three locations of family offices by state were New York, with 20% of the family offices, California with 15% and Texas with 8%. Among the top 10 cities for family offices were New York at No. 1, followed by Chicago, Dallas and Los Angeles.
Fintrx plans to release two subsequent studies with Schwab on family office-related data and insights later in the year.