The acquisition of the $2.8 billion London-based family office Sandaire by Schroders did not come as a shock to some family office principals who say they anticipate further consolidation as financial institutions seek inroads into the $5.9 trillion family office space and family office principals near retirement age.
However, those principals acknowledged that the very wealthiest of families would always want their own financial services managed directly and discreetly inhouse, regardless of mounting business costs and uncertain investment returns.