Traditionally, salary and compensation structures, along with most other operational aspects of the family office, have remained opaque despite the growing global demand for experienced executives to manage various financial, investment, legal and service offerings within these organizations.
UBS Wealth Management launched its annual ‘Global Family Office Report’ for 2020. The big fund manager and global bank surveyed principals and executives in 121 single-family offices around the world. Those family offices handle an average total family wealth of US$1.6 billion. This represents a significantly larger dataset than that of any other comparable study, with a total of funds under management of US$142.4 billion.
Family-owned businesses can have a a big impact on the economy. Lisa Olson (SVP of Family Office Services at Whitnell – Part of Associated Bank) joined Steve Grzanich to talk about just how important they are and the economic impact they can have. During the Associated Bank Thought Leader, Lisa references the challenges theses businesses are facing, and the recommendation she has been giving clients. She also looks ahead to November and how the presidential election may affect family-owned business.
I hear from many people who are wondering what family offices are doing in response to the Covid-19 crisis when it comes to real estate investing. After speaking with many family offices that I know, it appears that their position and willingness to invest in some of the upcoming distressed opportunities is different than it was during the Great Recession.
According to Coldwell Banker, American millennials will soon be the wealthiest generation by 2030, inheriting about $68 trillion from their parents. However, this transfer has complications in store for family offices, leaving them to figure out millennial’s investment interests and technological preferences. Apart from this, it also presents opportunities for family offices to change how they manage, invest, use, and share money.
If there’s one financial strategy that’s never failed me, it’s cashflow banking. I wrote about this strategy in my book What Would Billionaires Do?, but the basic premise is: start earning interest instead of paying it, cut out the middleman (the bank), and have access to your money before 59½, along with a multitude of other benefits.
Large family offices are veering towards private equity investment during the economic turmoil caused by the coronavirus pandemic, a new study and interviews with family office CIOs reflects.
Legacy planning is a sensitive topic for anyone, and the world’s affluent aren’t an exception. Here we’ve gathered five key succession planning tactics observed from the UHNWI worldwide.
Real estate, and specifically retail real estate, are taking the biggest hit by the COVID-19 pandemic. The investors are rethinking the ways their assets are allocated within the problematic sector.
COVID-19 pandemic is the best time for team’s performance checkup. Family offices across the globe are pausing to take a look within, before they can begin planning the future.
