Daily News Analysis
23 May 2013
Ultra-high net worth individuals living in the Gulf Cooperation Council jurisdictions of the Middle East are far more likely to use a single family office rather than a multi-family office because they want to keep a tight control over their affairs, according to a study by Invesco. The GCC jurisdictions are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates . While the Invesco report focuses on the Middle East region, the different ways in which single- and multi-family office models are viewed may have parallels in the North America market to some extent.
14 May 2013
Net new assets are flowing into the multi-family office industry, fueling a confident environment that many are working hard to capitalize on, according to the Family Wealth Alliance’s latest annual study of the sector.
26 April 2013
Wilmington Trust, part of M&T Bank, has hired Sharon Klein as managing director of family office services and wealth strategies in the New York metro region. Klein was latterly managing director and head of wealth advisory services at Lazard Wealth Management . She has 20 years of experience in the areas of trusts and estates, and philanthropic planning.
17 April 2013
Assets managed by global wealth managers, private banks and family offices amounted to $19. 3 trillion at the end of 2012, while total high net worth individual wealth stood at $66 trillion, according to new figures from WealthInsight . Meanwhile, there were over 5,000 family offices operating globally, the majority of which were based in the US (where there were 2,900) and Europe.
18 April 2013
Rothstein Kass has brought in Todd Kesterson as director of family office services in Dallas, TX - a role in which he will provide accounting, tax and business consulting services to high net worth individuals and family offices. Kesterson has about 25 years of experience in public accounting, wealth advisory and business operations . He has also worked in family business consulting, investment analysis, estate and business planning, internal controls and risk aversion, and budgeting and cash management.
11 April 2013
WE Family Offices is trying to change the landscape of high-end wealth management with its offering focused on “wealth as an enterprise.”
27 March 2013
GenSpring Family Offices is in some ways a poster child for the multi-family office industry: it grew assets under management very quickly for many years but has recently had to tackle problems that come with this increasing scale.
8 February 2013
This publication recently spoke to a number of wealth management executive search firms about their views about trends in the industry and issues to watch this year.
30 January 2013
As scores of industry players attempt to capitalize on the multi-family office market, one firm which has grown from zero to $13 billion assets under administration in two years recently told Family Wealth Report that it is looking beyond investment services.
11 January 2013
In a guest article, three experts look at the US tax authority's audit program that wealthy individuuals and family offices must be aware of.
News and Features
Comment and Analysis
Zürcher Kantonalbank, the biggest Swiss cantonal bank, expects to pay a fine to US authorities as part of a deferred prosecution agreement for its alleged role in helping US citizens evade taxes, media reports said.
24 May 2013
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
20 March 2013
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
4 April 2013
The period between 2008 and 2012 saw an uptick in risk reviewing business at New York’s Rothstein Kass Family Offices Group, says partner Evan Jehle.
9 April 2013
Building functionality into a family’s business affairs involves defining each person’s role but it’s never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
8 April 2013
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
25 March 2013