Advisors

Why Family Office Advisors Are Fast Becoming Extinct And How To Avoid It

The great wealth transfer is upon us. Various finance industry experts estimate that over the next two decades, between 30 and 68 trillion dollars in wealth will transfer to millennial investors in North America alone. The issue of concern for traditional family office advisors is that if they don’t adapt and future-proof their consultancies, they risk becoming extinct.

What Does A Family Office Do?

What Is A Family Office?

A family office is a one-stop financial shop for the extremely wealthy. They serve as wealth management and financial advisors for high net worth clients typically focused only on the category known as “ultra high net worth.” (This is generally defined as anyone with $30 million or more to invest. A family office isn’t interested in minor millionaire chump change.)
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8 Experts Every Family Office Should Have Now

Money and family have always been a potent combination, but new challenges, from cybersecurity to market volatility, are complicating the mix. It’s never been so important to have the right experts on your side.
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Why Family Offices Do it Better

Rubem Herzog’s rich clients can’t always remember all of their houses. “You’ll only be able to have a full picture of their assets after you meet a few times, because they keep forgetting things,” explained Herzog, a senior wealth manager at Geneva Management Group, a multi-family office. Then clients will remember, “‘Oh yes, my house in the South of France!’”  Read the full article here.

Duo managing $1.5 billion move to firm that operates network of family offices – InvestmentNews

Jonathan D. Williams and Kevin C. Curtis, who managed $1.5 billion at Wilmington Trust, are joining Summit Trail Advisors as partners and will open an office for the firm in Harrisburg, Pa.

Advisers on the Move

Jonathan Williams and Kevin Curtis will open office in Harrisburg, Pa. for Summit Trail Advisors

Jonathan D. Williams and Kevin C. Curtis, who managed $1.5 billion at Wilmington… Read the full article here.

Tips For Entrepreneurs Wanting To Tap Into Family Offices

UHNWIs, if you don’t know, are Ultra High Net Worth Individuals, or people with a net worth of at least $30 million. They make up only 0.003% of the world’s population but they hold 13% of the world’s wealth. There are 70,540 of them in the US, 16,510 in China, and 4,670 in the UK. Read the full article here.