Ultra-high-net-worth families are rebalancing up to 15–20% of their portfolios and accelerating structural changes to their wealth arrangements as geopolitical tensions and an energy market shock reshape the global economic landscape, according to wealth managers.
The shift, triggered in part by disruptions to oil supply through the Strait of Hormuz and rising inflation expectations, is driving a surge in demand for family office structures capable of handling complex, cross-border adjustments, the deVere Group said.
The International Energy Agency has described the supply disruption as one of the largest in modern history, amplifying concerns over currency volatility, sovereign debt constraints and tightening capital controls.
At the same time, a broader structural shift is underway, with globalisation giving way to more fragmented trade blocs and increased state intervention in strategic sectors.
“This is a system shock,” said Nigel Green, chief executive of deVere Group, noting that clients are repositioning portfolios as the global economy divides into competing political and economic spheres.
Family offices are playing a central role in executing these changes, as clients restructure how assets are owned, where they are held and how investment decisions are made across jurisdictions.
The firm reported rising activity in trust reconfiguration, holding company adjustments and jurisdictional rebalancing, as timelines for such changes compress from years to months.
Investment focus is also shifting toward sectors tied to structural transformation, including energy infrastructure, logistics, supply chains and technology platforms supporting regional production.
Demand for private credit in these areas is increasing as traditional financing conditions tighten.
Wealth managers said capital is increasingly being directed toward jurisdictions offering legal certainty, liquidity and political stability, while maintaining flexibility across multiple economic blocs as fragmentation deepens.