Middle East family offices are thriving – here’s how service providers can stay ahead
By Madalena Thirsk, senior account executive in Capital Markets
Family offices in the Middle East are booming, creating a competitive market for service providers. Success requires a sophisticated marketing and PR strategy tailored to the region’s unique business and cultural dynamics. This blog explores how providers can differentiate, build trust, and leverage thought leadership to secure long-term partnerships.
Family offices (FOs) in the Middle East are booming. From Dubai to Abu Dhabi, Riyadh to Doha, wealth management in the region has rapidly evolved, and FOs are playing an important role in shaping the economics and investment strategies of the region. Alongside Middle Eastern FOs, we’re seeing more international interest too, particularly from North America and Asia, as regulatory, taxation, location and lifestyle benefits make the region an increasingly appealing place to structure. In fact, Deloitte’s 2024 report shows the number of family offices in the Middle East will rise by 20% by 2030.i HSBC’s 2024 MENA Family Office Landscape Report further highlights that 25% of single-family offices in the region were created in the past five years.ii
As the Middle East emerges as a global hub for private capital, competition among service providers is heating up. Whether in investment management, legal and structuring advisory, ESG consulting, succession planning, or wealthtech, the opportunities to engage with this expanding family office pool are vast.
The challenge now for service providers is differentiation – standing out as the go-to partner in an increasingly crowded and competitive space. That’s where the right marketing and PR strategy comes in – and it must be one that is highly targeted to your prospect pool, tailored to regional nuances, and aligned with both industry expertise and the specific needs of FO operations.
Why the right marketing and PR strategy matters
FOs, particularly single FOs – which are set up to manage the wealth and affairs of one family – have unique requirements. To attract and retain family office clients, service providers must communicate a deep understanding of how they operate. FOs typically value discretion, long-term partnerships, and offerings that align with their values, legacy and ambition. Why? Because partnership decisions are directly tied to the family’s image. An impactful communications program takes this into account.
A successful strategy is built on specific goals and objectives, but key considerations include:
- Regionally grounded, globally connected
Understanding the cultural, regulatory, and business nuances of the Middle East is crucial for building trust and credibility with local stakeholders. However, as many FOs in the Middle East and beyond are diversifying their assets globally, showcasing a global footprint positions you well as a long-term, trustworthy partner.
- FO-specific engagement
Family offices are unique in their needs, often operating at the intersection of finance, governance, and legacy planning.iii Strategies to reach them must reflect this complexity, addressing the specific challenges faced by these entities and engaging them where their decision makers consume information.
- Strategic visibility
While FOs often prefer a low-profile approach, prioritising privacy and discretion, their advisors are still expected to demonstrate a strong, proven track record in wealth advisory. It’s not enough to simply have the expertise – advisors must make it known and visible in a thoughtful and strategic way. By doing so, you can foster trust and position your firm as a partner of choice.
The power of thought leadership
Considerations for strategy are certainly important, but how do they come to life in communications? Thought leadershipiv plays a crucial role here. By sharing valuable insights and fresh perspectives, you demonstrate your knowledge and stand out in your field. Done right, it lets you:
- Position as an authority in a crowded market
By addressing the unique challenges and opportunities faced by FOs in the region, thought leadership builds trust and credibility. Rather than talking about just the services you provide, you are evidencing your partnership expertise and knowledge of the FO landscape – that’s how you built stand-out and trust.
- Stay front-of-mind in non-buy mode
Decisions in FOs don’t happen overnight – long term vision is prioritised. Thought leadership keeps companies in the conversation, even during long decision-making processes. By consistently providing valuable content, your firm stays front-of-mind when FOs are ready to act.
- Balance visibility with discretion
Family offices value confidentiality. Often, the best way to attract their attention isn’t through loud, catch-all advertising, but through thoughtful, organic visibility. Through well-placed bylines, expert interviews, and carefully curated brand campaigns, you can enhance your presence while respecting the nuances of the space.
Securing a competitive edge
The rapid expansion of FOs in the Middle East is a major opportunity for the firms that provide essential services to them. But standing out in this competitive space requires a sophisticated, tailored and integrated marketing approach. Get in touch to learn how we can give you that edge.
Key takeaways:
Q. Why are family offices in the Middle East growing so quickly?
A. Middle East family offices are expanding due to favourable tax laws, regulatory frameworks, and increased global investment diversification.
Q. How can service providers stand out in this competitive space?
A. By implementing targeted marketing and PR strategies that align with regional nuances, thought leadership, and strategic visibility.
Q. Why is thought leadership a good strategy for engaging family offices?
A. It positions firms as trusted advisors, keeps them front-of-mind in long decision-making cycles, and balances visibility with the discretion FOs value.
