Daily News Analysis
13 June 2013
GenSpring Family Offices, the New York-listed wealth management firm for ultra high net worth families, has promoted Nikki Gokey to president of the Florida region. Gokey will oversee the operations and delivery of wealth management services in Florida, which includes family offices in Palm Beach, Orlando, Tampa Bay, Miami and Sarasota . Gokey joined GenSpring in 2004 as a family wealth advisor in Orlando.
4 June 2013
Business-owning families are more comfortable investing in other illiquid businesses and are also drawn to tangible assets, new research from Family Office Exchange suggests. Studying a group of 56 wealthy families, some of whom were business owners and others who were financial families, FOX found that the business owners had higher holdings of real estate and direct private equity . Business owners allocated 17 per cent and 12 per cent to real estate and private equity respectively, compared to 9 per cent and 4 per cent for financial families.
3 June 2013
Northern Trust has appointed David Albright as global sales and marketing director for its family office group. Albright has been at the Chicago-headquartered firm for 15 years and most recently led its business development efforts in the northeast of the US . In his new role he replaces Shannon Kennedy, who has left Northern Trust.
31 May 2013
SAC Capital Advisors is preparing plans to become a family office amid reports that a fifth executive at the hedge fund has been subpoenaed to appear before the grand jury considering criminal insider-trading charges against the firm, media reports said. Stamford, CT-based SAC Capital Advisors is creating a plan to return outside capital, according to Fox Business . The news service was told that an announcement that SAC will become a family office, designed to run founder Steven Cohen's fortune, will be made within weeks.
28 May 2013
Family offices are increasingly injecting higher levels of risk into their portfolios, mirroring the broader market confidence since late 2012, according to the latest FT Family Office survey. Over 150 families from family offices around the world took part in the survey, which was conducted between January and February this year . Among the findings, the report shows that since Autumn 2012, family offices have decreased their exposure to fixed income by 4.
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
The rising level of financial sector regulation means that fewer firms will be able to offer the full suite of wealth management products, according to the RBC/Capgemini World Wealth Report.
19 June 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