Last month, Bloomberg reported that despite the abolition of the UK non-dom regime and the looming prospect of wealth taxes, London remains a magnet for family offices.
Over the past decade, family offices have become increasingly international. Many now operate across multiple jurisdictions, both to diversify risks and to tap into opportunities in emerging markets. Yet, despite this global outlook, London has retained its gravitational pull. While some wealthy residents have indeed departed, data shows that very few family offices have actually uprooted their operations. According to Bloomberg, out of 259 single-family offices managing a combined $344 billion, only one has relocated alongside its principal. Even among the 19% of non-dom owners who are preparing to leave the UK, their offices remain firmly based in the capital.
It is not hard to understand why family offices have continued to stay fixed in London – their effectiveness relies on having the right advisers to ensure the family office runs as efficiently as possible, and the UK’s long-standing status as a global financial center, with a robust ecosystem of professional services, plays a huge role in that decision.
So why does London hold on so tightly to this community, even amid political uncertainty?
Several factors stand out:
- Depth of Expertise – Family offices thrive when they can draw on top-tier advisers across law, tax, investment, and governance. London’s professional services sector has built decades of global credibility and continues to offer unparalleled expertise.
- Global Financial Hub – The UK’s long-standing reputation as a stable, well-regulated financial centre makes London an attractive base for intergenerational wealth planning and cross-border structuring.
- Connectivity – With direct links to Europe, the Middle East, Asia, and North America, London provides unrivalled access to global markets and networks of capital.
- Cultural and Lifestyle Appeal – Beyond finance, London’s educational institutions, property market, and cultural life remain strong draws for international families.
Taken together, these advantages create a powerful ‘ecosystem effect’.
It is encouraging to see that London’s family office sector continues to thrive and evolve despite a backdrop of policy changes and uncertainty. For families thinking about their long-term strategies, the message is clear: location matters, and the right infrastructure can often outweigh political changes.
At Dixcart we have over fifty years’ family wealth planning experience and assist clients in running and managing Family Offices. For more insights, see our article on Effective Family Wealth Planning.
If you would like tailored advice on succession planning or a comprehensive approach to managing family wealth, please speak to your usual Dixcart professional or contact a member of our professional team at our UK office: advice.uk@dixcart.com.
