Family Offices tap AI, digital assets for private bets, research reveals

By Puja Sharma

Redefining Wealth: 90% of principals say true wealth is time, health, and relationships—not just money. Nearly 85% define success by helping others and leading with values

• Navigating Uncertainty: 56% cite geopolitical risk as their top concern. Nearly 80% are adopting AI in their personal lives and nearly 70% in their businesses, balancing innovation with human judgment and resilience.
• Evolving Investments: 75% diversify globally, with rising interest in private and specialty assets like sports teams (34%), art (23%), and cars (10%). Over 70% prioritise a dedicated philanthropy team for lasting impact.

J.P. Morgan’s 23 Wall Team has released its 2025 Principal Discussions Report, a landmark study that brings to light the voices, values, and strategies of the world’s most influential families.

“We are honoured to serve these families and learn from their experiences,” said Andrew L. Cohen, Executive Chairman, Global Private Bank. “Their openness and Candor offer invaluable lessons for anyone seeking to build enduring wealth with lasting impact.”

A Global Conversation on Wealth and Purpose

In an era marked by rapid technological change, shifting global dynamics and heightened uncertainty, the world’s wealthiest families are redefining what it means to manage and preserve wealth. The 2025 Principal Discussions Report draws on hundreds of hours of interviews, revealing that financial capital is only one aspect of a much broader story. Principals – the key individuals who guide family wealth – consistently stress that true prosperity is measured in legacy, leadership, and the impact made on others.

Across continents and generations, these leaders highlight the importance of values, relationships, and purposeful engagement. Over 90% believe time, health, and relationships—not money—are the real measures of a meaningful life. Nearly 85% define success by their ability to help others move forward, with a strong emphasis on creative thinking and values-based leadership.

Cohen noted, “Principals remind us that prosperity is about much more than financial capital. Their perspectives challenge us all to rethink what it means to build enduring wealth, placing purpose, connection, and stewardship at the very heart of their journey.”

Growing Risks

Geopolitical tensions are widely seen as the most significant risk facing the world today, with 63% of principals citing it as their top concern. Many highlight the growing risk of global conflict, while others point to market volatility, climate change, and the disruptive potential of artificial intelligence.

These global risks intersect with personal and societal anxieties, from the future of work and wealth disparity to the impact of technology on families and communities.

Artificial Intelligence: Opportunity and Caution

Artificial intelligence is rapidly reshaping both personal and professional spheres for the world’s wealthiest families. 79% of principals report using AI for everyday tasks, from research and writing to travel planning and even creative pursuits like crafting personalised bedtime stories or designing blueprints for new ventures. In business, 69% leverage AI for data analysis, strategic planning, and operational efficiency, with some principals citing significant cost savings and faster insights, such as using AI-generated reports to avoid substantial legal research expenses.

While many principals are enthusiastic about AI’s ability to save time and support better decision-making, others remain cautious, emphasising the enduring need for human judgment and context.

Cohen observed, “AI is opening new doors for families and their enterprises, but true success lies in balancing innovation with discernment. Technology is a powerful enabler, yet it’s human values and judgment that create lasting impact. This reflects J.P. Morgan Private Bank’s approach: driving innovation and efficiency while keeping trusted relationships and expertise at the core of our offering.”

Evolving Investment Views: The Power of Passion

Investments in specialty assets are increasingly shaping the portfolios of the world’s wealthiest families.

These choices are driven not only by financial strategy, but by genuine passion and a desire to make a lasting impact. Among these assets, teams and arenas stand out, with 34% of principals including them in their holdings. For many, involvement in this sector is more than a business decision—it’s an expression of personal values and a powerful way to contribute to and connect with their communities.

Other specialty assets are also gaining prominence. Art (23%) and cars (10%) are increasingly recognised not just for personal enjoyment, but for their strategic and financial value. Luxury collectibles, once held purely for pleasure, are now sometimes used as collateral to meet liquidity needs, reflecting a more dynamic and pragmatic approach to wealth management.

Cohen noted, “Ownership has evolved from a hobby into a sophisticated business and a unifying force for families, offering both financial returns and opportunities for community impact. Even luxury collectibles, once held purely for enjoyment, are now sometimes used as collateral to meet liquidity needs.”

This evolution in investment views highlights how families are seeking not only financial returns, but also meaningful engagement, legacy, and impact—demonstrating that passion and purpose are as important as profit in today’s wealth management landscape.

A New Era of Stewardship

For today’s principals, true wealth is measured less by financial capital and more by the legacy of values, relationships, and impact they leave behind. Cohen continues, “The most enduring families lead with purpose and principle. They know real wealth is found in the values they pass on and the impact they make.”

Philanthropy is central to this ethos. Most principals are deeply engaged in giving, with over 70% dedicating resources to ensure their philanthropy is structured, accountable, and meaningful. As one principal shared, “When I think about my legacy, I think about giving back.” For many, philanthropy is also a way to unite the family and inspire the next generation, turning giving into a shared journey of purpose and connection.

“Across EMEA, principals are redefining what it means to be leaders. Of those surveyed, 63% are dedicated stewards of multi-generational legacies, while 37% are self-made business owners. This unique combination fuels a forward-thinking mindset: 74% are embracing AI, not just to boost efficiency, but to spark change in their businesses and personal lives. Meanwhile, 20% are breaking new ground by investing in sports ownership, turning personal passions into powerful platforms for business growth and community impact,” said Natacha Minniti Head of 23 Wall International and Global Co-Head of Family Office Practice at J.P. Morgan Private Bank.

“Yet, amid this wave of innovation and diversification, 68% of principals identify geopolitical tensions as their greatest risk. In response, families are doubling down on structured, diversified strategies to protect and grow their wealth.” Minniti concluded, “In this climate, adaptability and entrepreneurship are essential for sustaining legacy and capturing new opportunities.”