The Securities and Exchange Board of India (SEBI) has unequivocally stated that it is not contemplating any form of regulatory oversight for family offices, directly refuting recent media speculation. In an official statement released on Saturday, October 4, the market regulator dismissed reports suggesting such a move as "factually incorrect," asserting that no such proposal is currently under examination or active consideration.

This clarification from SEBI came in response to various media reports published on October 3, which had indicated that the regulatory body was considering bringing family offices—private entities dedicated to managing the wealth of ultra-high-net-worth families—under a new regulatory framework. SEBI's statement emphasized, "It has come to SEBI's attention that certain media reports have suggested that SEBI is considering regulatory oversight of family offices. These reports are factually incorrect. SEBI is not examining or pursuing this matter at present."

Family offices are specialized private wealth management firms designed to offer comprehensive financial and investment services to affluent individuals or families. Distinct from conventional wealth managers, these offices provide an extensive array of personalized services. These typically include, but are not limited to, investment management, strategic tax planning, meticulous estate planning, philanthropic advisory, and occasionally even lifestyle and concierge services. Their overarching objective is to ensure the preservation and continuous growth of family wealth across successive generations.

There are primarily two structural models for family offices: Single-Family Offices (SFOs), which exclusively serve the needs of one exceptionally wealthy family, and Multi-Family Offices (MFOs), which extend their services to several families, thereby often benefiting from shared resources and potentially reduced operational costs.

In the Indian financial landscape, family offices have been witnessing a significant surge in popularity. This growth is particularly notable among established business families and emerging startup founders who seek structured and professional management solutions for their substantial personal wealth. A recent report by EY and Julius Baer further illuminated this trend, highlighting a transformative shift within India's ultra-high-net-worth families. While approximately 25 percent of Indian family offices continue to prioritize the preservation of wealth, a growing number are actively diversifying their portfolios into global and alternative assets, signaling a dynamic evolution in their wealth management and governance strategies.