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Carolyn Friend and James Weiner, co-founders of Chicago-based consulting firm Inheriting Wisdom, have released a book coined The Legacy Conversation: the missing gem in wealth planning.
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Angelo Robles, founder of Family Office Association
PAM: What are some of the main challenges single-family offices are dealing with currently?
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Multi-family office Cornerstone Advisors, based in Bellevue, Washington, has tapped Doug Haack as chief client officer.
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Mutli-family office Highmount Capital is planning to open a Switzerland-based office to highlight its international presence. The MFO currently has offices in New York, Boston and Amsterdam.
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Wealth management heavyhitters Russ Alan Prince, president of Prince & Associates, Hannah Shaw Grove, a consultant to the ultra-wealthy, Keith Bloomfield, president and CEO of the Forbes Family Trust and Richard Flynn, head of the Rothstein Kass Family Office Group, have written “The Family Office – Advising the Financial Elite,” a guide to the family office industry including in-depth analysis of the trends and developments that are driving the rapid growth of the sector.
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Boston-based Silver Bridge Advisors has acquired H&S Financial Advisors, a San-Francisco wealth advisory boutique, in an attempt to grow the firm’s business.
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Family Office Association (FOA) is gearing up for its fall single-family office summit to be held on 4 Nov at the Greenwich Country Club.
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California-based multi-family office Aspiriant has acquired Deloitte Investment Advisors, the fee-only registered investment advisory group formerly owned by Deloitte Tax, a division of the global accountancy and advisory business, Deloitte.
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St. Louis-based Greenway Family Office, launched in May by Joan Malloy, the former president of St. Louis Trust Company, is looking to expand its scope outside of St. Louis and is eyeing strategic clients on both coasts.
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Wealthy clients are increasingly looking to their advisors and family offices for family dynamics services, or basing the investment approach on aspects of family member relationships, the personal knowledge of family, detailed understanding of all assets, and wealth education for children.
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Steve Braverman, former president of the Investment Advisory Services unit for Harris myCFO, has officially launched Pathstone Family Office with former Harris myCFO colleague Allan Zachariah.
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Multi-family offices, investment firms and wealth management shops are poised to gain market share from single-family offices looking to outsource the role of chief investment officer, noted Tom Livergood, ceo of Family Wealth Alliance.
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Joan Malloy, the former president of St. Louis Trust Company, has launched Greenway Family Office, targeting wealthy families with $10-25 million in net worth.
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Harris myCFO has brought on Mark Castelin as a director and senior investment advisor in an attempt to bolster its investment advisory services team in Seattle and nation-wide.
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London & Capital has brought on Armando Simões Silva as executive director, family offices, in an attempt to grow the firm’s business development efforts in Southern Europe.
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Michael Cole, Wells Fargo Family Wealth unit’s executive v.p. and Western division leader, has left the firm to start his own venture.
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Dirk Jungé, chairman and ceo of multi-family office Pitcairn, said business succession and the shifting of control from multiple generations has more to do with family dynamics and less to do about business issues.
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Multi-family office BBR Partners will host a client symposium and anniversary party on May 6 in honor of the firm’s 10-year anniversary.
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Fidelity Family Office Services has launched Fidelity WealthCentral, a reporting program designed for single-family offices.
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Atlanta-based Homrich Berg, an independent wealth management firm, has expanded its team for its Homrich Berg Family Office Services unit.
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With single-family offices bracing for possible legislation to be passed in Congress that would force them to register with the Securities and Exchange Commission as a registered investment advisor, SFOs should take steps to secure and protect their private entities, said Angelo Robles, founder of Family Office Association.
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Multi-family office Constellation Wealth Advisors is continuing to build out its New York hub.
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Following the completion of Threshold Group’s acquisition of Ashbridge Investment Management, the firm is plotting to transition Ashbridge’s existing clients and has created a unified team to focus on logistics of service agreements and immediate service priorities of its clients.
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The Family Office Company, a Bahrain-based multi-family office, is targeting wealthy families in the Gulf region that have international family ties to other regions like the U.S. and Europe, said Abdulmohsin Al Omran, ceo and founder.
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Marshfield, Mass.-based Advisors Institutional Services is seeing an increased interest from multi-family offices, as well as wealth advisors and law firms, to set up private label trust companies in-house.
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London-based Global Partnership of Family Offices, a networking organization dedicated to family offices, is targeting international families in the U.K., Middle East, Switzerland and Latin America by hosting monthly events focused on investing for family offices.
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Utah-based recruiter for the multi-family office industry Al Gregory is preparing to launch Front Tier Advisors Network, which will focus on connecting family office experts with other advisors looking for niche services.
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BNY Mellon Wealth Management is continuing its expansion nationwide and has added to its offices in Seattle and Boston.
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Family Office Association is launching peer-to-peer networking sessions exclusively for family office principles and single-family office family members, said Angelo Robles, founder.
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Constellation Wealth Advisors is in growth mode and is looking to bring on advisors in both its New York and Menlo Park, Calif., offices.
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Jens Baumgarten, head of private banking, North America at Simon-Kucher & Partners, is urging family offices and wealth management advisors to reevaluate client fees during a time when many clients want to lower costs.
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Family offices are looking for the most efficient portfolio information systems in an attempt to reconcile asset holdings and measure the overall portfolio performance.
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Industry veteran Jamie McLaughlin, who was named to the newly created post of ceo of Geller Family Office Services in the fall, has left the firm.
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Steve Braverman, the former president of the Investment Advisory Services unit for Harris myCFO, who left the post last week, is preparing to launch a multi-family office dubbed Pathstone Family Office.
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Steve Braverman, president of the Investment Advisory Services unit for Harris myCFO, has left to start up his own business venture, according to Jim Kappel, spokesman.
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Greenwich, Conn.-based Family Office Association, a membership firm that focuses solely on the ultra-high-net-families and single-family offices, has brought on roughly 50 SFO members last year and hopes to double its membership by year-end.
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Multi-family office Pitcairn has launched its first New York office. The move comes following the firm bringing on Shelterwood Financial Services’ executive team, led by Bill Rankin and Alan Houghton.
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IDS Capital, a $50 million Geneva-based multi-family office specializing in hedge fund investments, is looking to hire a new partner to mastermind its business development activities – and is offering up equity as an incentive.
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Many high-net-worth individuals are still considering the Roth IRA conversion, and it appears to still be a favorable time to convert, noted Scott Barbee, senior manager with Cincinnati-based multi-family office Truepoint Capital.
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Falcon Investment Management, the hedge fund arm of the Merage family office— founders of Chef America, which invented Hot Pockets—has launched a long/short equity hedge fund. Portfolio Manager Richard Merage oversees the Falcon Consumer Fund, a long/short strategy, which currently manages $119 million of the Merage’s wealth.
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Family offices are ramping up philanthropic giving in the wake of the earthquake in Haiti this month.
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After steering clients clear of illiquid investments for the last two years, Synovus Family Asset Management has decided to carve out an illiquid investments allocation of 5% or more.
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Multi-family office Lowenhaupt Global Advisors is building out its due diligence infrastructure for its ultra-wealthy international family clients who are looking for access to institutional managers.
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Multi-family office Threshold Group will seek acquisitions in a bid to expand its national footprint as soon as it finalizes its merger with Philadelphia-based Ashbridge Investment Management.
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Industry veteran Jamie McLaughlin made waves leaving Convergent Wealth Advisors to join Geller Family Office this fall.
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Following multi-family office Shelterwood Financial Services’ split from the Huber family, the executive team led by Bill Rankin has joined MFO Pitcairn.
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High-net-worth investors, particularly those within single-family offices, tend to neglect tax, trust and estate planning and not review them as often as asset allocation, according to a panel at this month’s Family Office Association’s Fall Summit.
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Single-family offices are overwhelmingly concerned with sustaining their family’s legacy and passing down money to future generations, according to speakers at the Family Office Association’s Fall Global Summit this month.
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It is a good time for high-net-worth clients to move assets to the next generation through 2010, as interest rates have been historically low, Alan Kufeld, principal at Rothstein Kass Family Office Group told PAM.
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Wilmington Trust is increasing its focus on catering to family office clients, many of whom have single-family offices, and is looking to target clients in this niche with $150 million and above in assets, said Roger Hobby, president for Wilmington Trust, New England.
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New York-based Pepper International, which services four families that each have an excess of $100 million in assets, is eyeing socially responsible investments, particularly in clean and green technology.
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Multi-family office Shelterwood Financial Services has broken away from the Huber family after the family decided to exit the multi-family office business and instead run its own single-family office.
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New York and Menlo Park, Calif.-based Constellation Wealth Advisors is actively targeting family clients that are industry executives, namely hedge fund managers, private equity professionals and venture capitalists, among others.
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Ed Lazar, president of Gig Harbor, Wash.-based multi-family office Threshold Group said his firm hopes to finalize its merger with Philadelphia-based Ashbridge Investment Management by year-end.
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Ruth Idzig, formerly head of investor relations for London-based Antarctica Asset Management, has set up Relative Value Insight, a family office.
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The Family Wealth Alliance’s Fall Forum culminated with an elegant awards dinner honoring top players in the family office space.
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Multi-family offices should begin the process of identifying and mentoring potential advisors in their twenties and thirties, panelists at The Family Wealth Alliance’s Fall Forum agreed.
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High-net-worth individuals who are looking to travel to remote locations, particularly for philanthropic trips, need to have proper planning as a way to decrease their personal vulnerability, according to a recent white paper by Hub International presented at The Family Wealth Alliance’s Fall Forum.
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Single-family offices are increasingly willing to network with their peers, opening opportunities for MFOs to facilitate the networking and impart their own advice and potentially gain clients.
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GenSpring Family Offices has named David Neubert president of its Nashville operation.