Geopolitical diversification has become the highest priority for wealthy families as they seek to build portfolios resilient to unpredictable shocks.

This is according to findings from Julius Baer’s 2026 Family Barometer report, which found that portfolio resilience is a top investment concern, above inflation protection.

The report, which surveyed advisors serving ultra-high-net-worth (UNHW) families globally, said that geopolitical diversification was the top investment-related discussion topic.

Despite rising inflationary fears and energy prices, inflation protection was the second highest topic, followed by real estate investing.

“Geopolitical risk has moved from background noise to a central variable in every allocation decision families make today,” said Rajesh Manwani, member of the executive board and co-head global products & solutions, Julius Baer.

Despite being below geopolitics and inflation, the report said that real estate’s priority as an investment topic remains notable, due to its diversification component, tangibility and long-term stability, especially for Middle East clients.

The advisors surveyed said their clients are asking where their assets are held and under which regulatory environment. This is translating into a more sophisticated allocation framework for family offices, according to the report.

“The impetus is clear,” it said. “Shifting alliances, sanctions regimes, and the reconfiguration of trade relationships have made geography matter to investment in ways it has not for a generation.”

For families transitioning from business owner to long-term investor, the report found that capital preservation and long-term capital growth were families’ two highest post-exit priorities, followed by replacing income generated by operating businesses.

It found that some Asian founders are separating their wealth into pools: one professionally managed for long-term preservation, and another reserved for new ventures and direct investments.

Christos Anagnostopoulos, head of family office solutions/advisory Asia, Julius Baer said: “In some cases, families carve out a pool of capital that they can continue to invest as they wish. That allows them to remain entrepreneurial while ensuring the majority of the wealth is managed in a disciplined way.”