By Mark Greer, Philanthropic Advisor
Family offices are exploding in popularity and influence. By 2030, the number of family offices in North America is projected to exceed 4,100, nearly doubling since 2019, and they will control roughly $4 trillion, according to a recent study by Fidelity Investments.
As family offices proliferate, they’re evolving from purely financial entities into values-driven ecosystems. Inspired by younger wealth creators and next generation inheritors, today’s family offices are no longer just structures for managing assets – they are also platforms for aligning wealth with purpose, shaping legacy, and investing in a better future.
A consequence of this shift is that philanthropy can no longer be a part-time focus or a side interest of a family office; it is becoming a core pillar of how families define legacy, foster unity, and pursue purpose.
At Phīla Engaged Giving, we believe that with great wealth comes a profound opportunity, not just to preserve assets, but to shape the world, so we welcome this evolution.
Based on our experience working with family offices, wealth advisors, and the individual donors and next gen they represent, here are a few thoughts on how to effectively make philanthropy an integral part of your family office operations.
1. Incorporate Philanthropy From the Outset
Too often, families add philanthropy to the office after everything else is built. But in our work with families across the country, the most successful family offices treat philanthropy as integral to operations, decision-making, and strategic vision. Doing so helps offices:
- Define “The Why” behind the wealth
- Establish shared purpose among stakeholders
- Build long-term investment strategies that align with values
- Engage the next generation with meaning and mentorship
- Reduce internal tension and enhance intergenerational trust
2. Philanthropy as the “Glue” That Unites
In the wake of business sales or liquidity events, families are often awash in complexity. As governance structures and investment frameworks take shape, experts emphasize the importance of establishing a unifying mission. For many families, philanthropy becomes that “glue”, a shared endeavor that transcends generations, lifestyles, and geographies.
At Phīla, we help families articulate their “North Star” by identifying shared values, mapping legacy goals, and designing charitable strategies that align with personal purpose and wealth management plans. Philanthropy provides a non-financial return on investment: family cohesion, identity, community connection, and joy.
3. Strategic Advice Matters – So Does the Timing
Families and their advisors setting up a family office for the first time quickly realize how daunting the experience can be, and how important it is to bring in qualified, strategic partners from the beginning. While legal and investment advisors are often first at the table, philanthropic advisors should be close behind. Families that wait too long to integrate giving into their strategy often find themselves making reactive, disconnected gifts that miss the chance to create lasting impact.
This is especially true for new wealth creators and entrepreneurial families, who are typically focused on deal flow and tax planning. Our approach helps them pause, reflect, and embed philanthropy into the family office structure itself, whether through private foundations, donor advised funds, mission-aligned investing, or all the above.
4. Next Gen Is Leading the Charge
Fidelity’s recent report confirms what we know from working with next gen clients: younger family members are increasingly interested in environmental and societal returns, impact investing, and “leading in love,” not just leading with capital. They want to understand how their families’ resources – both philanthropic and financial – can be used to address issues they care deeply about.
Phīla specializes in working with next-gen wealth holders to equip them with the knowledge, tools, and mentorship needed to engage meaningfully. From donor education to co-creation sessions, we help emerging leaders find their voice and steward their inheritance with confidence and compassion.
The Bottom Line: A New Era of Purpose and Planning
The family office of the future is not just a custodian of wealth, it is a catalyst for change. As family offices become more prevalent, the opportunity to integrate philanthropy as a central pillar of strategy has never been greater. Now is the time to move beyond ad hoc giving and build intentional, values-driven strategies that span generations and systems.
At Phīla Engaged Giving, we don’t just support charitable giving, we design legacy. Whether you’re establishing a new family office, reimagining an old one, or simply exploring how to deepen your impact, we’re here to help you turn wealth into meaningful, measurable good.
