Pressed by losses to family wealth during the recent market turmoil, many single-family offices are struggling with growing concerns about their long-term viability. They are also casting about for ways to achieve more reliable and less volatile investment returns.
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At the same time, multifamily offices are prospering and growing apace. Indeed, they find themselves in the sweet spot of wealth management today. Multifamily offices are welcoming new clients from among the wealthiest refugees fleeing wirehouses and big banks. They are also the place where many single-family offices are turning for help in managing their future. Average relationship size at multifamily offices is an impressive $50 million.
These are among the trends at the top end of wealth management as identified in research by The Family Wealth Alliance, LLC. I will be talking about these developments and others in a webinar as part of The Financial Advisor Webinar Series by Advisors4Advisors.com this Friday, April 23 at 4 p.m. Eastern time.
I will also be discussing:
* How single-and multi-family offices developed and are evolving.
* What services are outsourced by these firms.
* What's behind concerns about the long-term viability of single-family offices.
* Why multifamily offices are the sweet spot of wealth management, and
* How single- and multifamily offices are adapting to a changing environment.