The future of Private Wealth: Insights from the Equiom Monaco Team

Monaco has long been a focal point for internationally mobile families and ultra-high-net-worth individuals (UHNWIs). Over the past decade, private wealth management and family office services have undergone a profound shift becoming more professional, more regulated, more digital and far more globally interconnected. 

With its position as an international wealth hub and home to one of Equiom’s multilingual private client teams, the Principality offers a unique vantage point from which to observe these changes. 

In this Q&A, three senior members of our Monaco office share their insights on how the sector has evolved and what families should be preparing for in the decade ahead. 

Q1: What major shifts have you seen in private wealth and family office services over the past decade? 

Audrey Ramirez, Managing Director, Equiom S.A.M: 

“In the last ten years we’ve seen family offices evolve from informal, relationship-led structures into highly professional, institutional-grade organisations. Families now expect a coordinated team of specialists combining investment expertise, legal insight, technology, governance and risk management. 

That level of sophistication wasn’t as common a decade ago. Today, it’s essential. Families want strategic clarity, sharper reporting, and robust structures that can operate effectively across multiple jurisdictions.” 

Q2: Why are families increasingly formalising their family office structures? 

Marisol Richard Espinosa, Director, Client Services, Equiom S.A.M: 

“As wealth becomes more international and investment strategies more sophisticated, families are building teams that mirror the expertise you’d find in global institutions. 

This professionalisation means they can respond quickly to market changes and manage their affairs with far greater efficiency. It’s no longer just about administration, it’s about long-term planning, governance and delivering resilient family office services across generations.” 

Q3: How prominent are alternative investments today compared with a decade ago? 

Antonio Mazzotta, Director – Client Services - Equiom S.A.M: 

“There has been a clear shift towards private equity, venture capital, hedge funds, real assets and more specialised alternatives. These asset classes offer attractive diversification, especially in volatile financial and political environments. 

But they also require deeper due diligence and strong risk management. Our role involves selecting the right external professionals, carrying out appropriate benchmarking and ensuring each decision aligns with the family’s long-term interests.” 

Q4: The regulatory landscape continues to change rapidly. How is this shaping your work? 

Antonio Mazzotta: 

“Regulatory expectations are now significantly higher across all jurisdictions. Transparency, governance and compliance standards have strengthened considerably, particularly for structures involving internationally mobile clients. 

Monaco’s recent inclusion on the EU’s list of high-risk third countries for AML purposes has only accelerated the Principality’s commitment to regulatory enhancement. For us, the focus is always on respecting those standards and supporting clients with structures that are strong, compliant and future proof.” 

Q5: Monaco remains a preferred base for UHNW families. What continues to make the jurisdiction so compelling? 

Audrey Ramirez: 

“Monaco offers a combination that is very difficult to replicate: political stability, an internationally connected business environment, strong infrastructure and a world-renowned quality of life. 

It’s also an increasingly sophisticated wealth hub. International families value the ability to access high-quality advisors, specialist investment partners and a culturally diverse, multilingual workforce. In our office alone, we speak French, English, Italian, German, Spanish, Russian and Arabic, and that cultural fluency adds real value. This combination continues to make Monaco a leading base for private wealth management globally” 

Q6: What skills are essential in a modern family office team?

 Marisol Richard Espinosa: 

“Technical expertise is important, but cultural fluency is equally critical. Wealth today is global. Families may have children studying in one country, businesses in another and assets spread across multiple regions. 

A modern advisor must be able to navigate that complexity with sensitivity, precision and an understanding of the family’s cultural context.” 

Q7: Looking ahead, what does the next decade of private wealth management look like? 

All three contributors: 

“The future will bring more regulation, more digital innovation and more cross-border complexity but also greater opportunity. 

We expect family offices to become even more professional, with stronger governance frameworks, clearer succession strategies and a deeper focus on sustainability and long-term value creation. 

At Equiom Monaco, our role is to guide families through that landscape with clarity, discretion and a forward-looking approach that protects both the family and its legacy. This is especially relevant as private wealth management becomes more globalised and family office services continue to mature.” 

Conclusion 

As private wealth management becomes increasingly global and increasingly complex, families need advisors who can combine technical precision, cultural understanding and strong governance, all within a trusted, long-term partnership. This shift is reshaping how private wealth management and family office service providers support families across borders. 

Equiom Monaco remains committed to delivering that standard, supporting clients with tailored solutions that evolve as their needs and ambitions grow. 

This article has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. This article cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained within this article without obtaining specific professional advice. Please contact Equiom Group to discuss these matters in the context of your particular circumstance. Equiom Group, its partners, employees, and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this article or for any decision based on it.