« Career Podcast: Are You Deferring Your Goals Rather than Attaining Them? | Main | Mind the Gap »

08/15/2012

Video: Family Offices in the US, Europe, and Asia


Click to Print This Page
NYSSA recently held its 4th Annual Family Offices Conference, focusing on the latest trends in private weath management for  ultra-high-net-worth clientele. Based on her work as the executive director of the Institute for Private Investors, Mindy F. Rosenthal gave a comparative analysis of family offices in the US, Europe, and Asia.
  • US
    1. Offices typically have about 4 to 6 employees.
    2. Fully integrated wealth management shops are becoming increasingly rare, with small targeted offices becoming more prevalent.
    3. Larger, (usually) older family offices are looking to sustain infrastructure and keep younger generations engaged by partnering and sharing services with other offices for noncore services.
  • EUROPE
    1. Offices are relatively large with an average of 13 employees.
    2. Europeans are more likely than Americans to use concierge services that provide everything in one shop, but are looking to outsource more specialized services.
  • ASIA
    1. Family offices in Asia are smaller than those in the US and Europe.
    2. Over 80% of families' wealth is tied into their primary operating company. They will often use people in their business for personal financial dealings.
    3. Because family offices in Asia are still in the beginning stages, the focus should be on hiring quality staff and building.

In both the US and Europe, wealth is often tied to a business that is not necessarily the primary source of wealth. A major focus for wealth managers should be educating and engaging the next generation, along with finding the best resources.

Related Posts Plugin for WordPress, Blogger...

Comments

The comments to this entry are closed.

UConn-ad

NYSSA Job Center Search Results

To sign up for the jobs feed, click here.


UPCOMING EVENT
MF16

NYSSA Market Forecast™: Investing In Turbulent Times
January 7, 2016

Join NYSSA to enjoy free member events and other benefits. You don't need to be a CFA charterholder to join!


CFA® EXAM PREP

CFA® Level I 4-Day Boot Camp
Midtown

Thursday November 12, 2015
Instructor: O. Nathan Ronen, CFA

CFA® Level II Weekly Review - Session A Monday
Midtown

Monday January 11, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level III Weekly Review - Session A Wednesday
Midtown

Wednesday January 13, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level III Weekly Review - Session B Thursday
Thursday January 21, 2016
Instructor: O. Nathan Ronen, CFA

CFA® Level II Weekly Review - Session B Tuesday
Thursday January 26, 2016
Instructor: O. Nathan Ronen, CFA