What share of family offices have no succession plan?

RSM's survey found that 55% of family offices have no succession plan in place. Among those that do have a plan, only 37% have formalized it in a written document. The remaining family offices with plans rely on drafts, verbal agreements, or informal arrangements.

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RSM Survey Finds 55% of Family Offices Have No Succession Plan

Among the family offices that do have a plan in place, only 37% have formalized the arrangement in a written document.

By the Family Office Real Estate Daily Desk·Thursday, October 8, 2026·1 min read

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What percentage of family offices have no succession plan?

An RSM survey finds 55% of family offices have no succession plan in place. Among the family offices that do have a plan, only 37% have formalized the arrangement in a written document, with the remainder relying on drafts, verbal agreements, or informal arrangements.

Key facts

RSM's survey found that 55% of family offices have no succession plan, according to Family Office Daily.
Among family offices with a succession plan in place, only 37% have formalized the arrangement in a written document, according to RSM's survey.
Family offices with succession plans that lack a formal written document rely on drafts, verbal agreements, or informal arrangements, according to RSM's survey.
RSM is identified as the firm that conducted the survey reporting most family offices lack written succession plans, according to Family Office Daily.

RSM Survey Finds 55% of Family Offices Have No Succession Plan — Image: editorial illustration · Story sourced from familyofficedaily.com

More than half of family offices have no succession plan, according to a survey conducted by accounting and consulting firm RSM. The firm found that 55% of family offices surveyed have made no provision for leadership transition.

Among the family offices that have established a succession plan, 37% have created a formal written document, RSM said. The remaining offices rely on draft plans, verbal agreements or informal arrangements to govern future leadership changes.

The findings come as family office executives across the industry describe persistent hiring pressure for investment, tax and trust roles. Leaders at Michels Family Office, Plante Moran, Bessemer Trust and Deloitte say experienced candidates are hard to find, and some offices want prior family office experience.

Separately, leaders from Still Pond Capital, Mt. Vernon Investments and Krause Group discussed governance challenges as families expand at the ALIGN 2026 conference in Dallas, according to an account by FO Pro. The executives weighed legacy-asset sales and governance structures alongside artificial intelligence adoption.

Morgan Stanley and Botoff published survey results showing that family members hold 12% of family-office executive roles. The research did not specify whether those positions are permanent or transitional.

A separate UBS survey found that staff costs represent almost 70% of pure operating costs at family offices. The finding underscores the personnel-intensive nature of family office operations as offices navigate hiring and succession simultaneously.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

The RSM data argues for a formal, written succession document rather than reliance on verbal agreements or draft frameworks. A verbal understanding offers no legal clarity when the principal dies or becomes incapacitated, and draft documents may never be executed if the family defers the conversation. Direct ownership structures and GP roles compound the risk because operating agreements often require unanimous consent for amendments, making post-crisis fixes impractical.

Offices without written succession plans should treat the governance work as a prerequisite to any new co-GP deployment. If a family office commits capital to a 10-year real estate fund or takes a GP stake in a private equity vehicle, the sponsor will expect continuity in decision-making authority. A succession vacuum mid-investment can freeze distributions, paralyze follow-on decisions, and erode sponsor relationships.

Family governance planning often takes longer than the tax structuring, as multiple industry executives have noted. Principals should allocate at least six months to draft and negotiate a succession framework that names successors, specifies voting thresholds, and addresses trustee powers. The work is interpretive and requires family consensus, not just legal drafting, which is why many offices defer it indefinitely and remain exposed.

Questions this story answers

02How many family offices with a succession plan have it in writing?

According to RSM's survey, only 37% of family offices that have a succession plan have formalized that plan in a written document. The rest rely on drafts, verbal agreements, or informal arrangements rather than a formal written succession plan.

03What are family offices with informal succession plans relying on instead of written documents?

According to RSM's survey, family offices that have a succession plan but have not formalized it in writing rely on drafts, verbal agreements, or informal arrangements.

04Which firm conducted the survey on family office succession planning?

RSM conducted the survey finding that 55% of family offices have no succession plan, and that among those with a plan, only 37% have a formal written document in place, according to Family Office Daily.

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Original reporting

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