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North American Family Office Study

  • ID: 1206965
  • Book
  • February 2010
  • Region: North America, United States
  • 72 Pages
  • Campden Publishing
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U.S. Trust and Campden Research are proud to present the North American Family Office Survey 2009, a comprehensive analysis of the most pressing issues faced by family offices and how events of the last year are impacting the decisions ultra-affluent families make regarding family office set-up, services offered and future development.

Summary

This ground-breaking research provides an in-depth look at how family offices are evolving to meet present-day challenges. It is the first to delve into the differences in approach between families that have operating companies and those that do not. Additionally, it captures the complete spectrum of family office models, as family offices transition from closed operations serving only the founding family, to opening specific investment or advisory services to non-family clients, to consolidating into private multi-family offices, to becoming full-fledged commercial operations.

The research provides invaluable insights into how family offices are focusing their resources to concentrate on core mandates and how the offices are evolving.

Findings cover the following:

- Addressing risk: the increased emphasis on transparency, operational and personal due diligence
- Moving back to basics: how family offices are focusing resources on the core mandate of control and consolidated wealth management
- Opening the office: a look at the motivations and challenges of bringing on non-family clients and the different models for doing so
- The operating company impact: how owning a business affects the running of the family office
- Investing for the future
- Rebuilding trust with financial services providers
- Outlook

The Great Recession, credit crisis and market scandals have made clear the strengths and weaknesses of family offices—placing them on the evolutionary fast track. The offices are exploring consolidating with other offices, opening services to non-family clients and possible closure. They are doing this while moving back to basics and focusing on core mandates. The U.S. Trust/Campden Research North American Family Office Survey 2009 provides a comprehensive look at the future of family offices at this critical juncture in time.
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Preliminaries
About the research
About U.S. Trust
About Campden Media
About the author
Executive summary
Risky business
Seeking opportunity
Lacking leverage
Back to basics
Controlling costs
Opening the office
The operating company impact
The survey in brief

1. The face of the family office
Key findings
1.1 The sample
1.2 Staffing the office

2. After the bubble burst: addressing risk
Key findings
2.1 Risk management
2.2 Ratcheting down risk
2.3 Staffing
2.4 The allure of the little black box
2.5 Feeding the feeders
2.6 Assessing counterparties

3. Investing for the future
Key findings
3.1 The fall-out
3.2 When opportunity knocks
3.3 Asset snapshot
3.4 Benchmarking performance

4. Aligning goals and services
Key findings
4.1 Goals and objectives
4.2 Investment and financial advisory services
4.3 Family professional services
4.4 In-house, outsourced or both?
4.4.1 Investment advisory services
4.4.2 Financial advisory services
4.4.3 Family professional services
4.5 Services increasing in importance
4.6 Services declining in importance

5. Rebuilding trust
Key findings
5.1 Picking a provider
5.2 In-house investments are poorly perceived
5.3 The financial service providers
5.4 Keeping it in the family

6. Running the office
Key findings
6.1 Weighing the costs
6.2 Office life

7. The operating company effect
7.1 Origins, size and setup
Key findings
7.1.1 The office staff
7.2 Services offered
Key findings
7.2.1 In-house, outsourced or both?
7.2.2 Investment advisory services
7.2.3 Financial advisory services
7.2.4 Family professional services
7.2.5 Services increasing in importance
7.3 Investment strategy
Key findings
7.4 Financial services provider relationships
Key findings
7.5 Running the family office
Key findings

8. Outlook

Appendices
Methodology
Charts and figures
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