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The millennial mindset

May 3, 2016

Their outlook shaped by the global financial crisis, Millennials have a cautious outlook but are keen to have a positive effect on the world. Advisers have to engage these upcoming members of ultra-high net worth families on their terms, explains Ned Dane, senior vice president and head of OppenheimerFunds’ Private Client Group

What was the purpose of carrying out this study?

Next-gens keen to employ non-family members, says report

April 20, 2016

Next-generation members of family businesses are increasingly recognising the importance of installing outsiders in senior roles, according to a report.

Next-generation members of family businesses are increasingly recognising the importance of installing outsiders in senior roles, according to a report.

Although nine out of ten next gens have, or expect to have, a governance role themselves in the business, many believe an external hire may be able to contribute more, according to PwC’s Great Expectations: The Next Generation of Family Business Leaders.

Making decisions on wealth strengthens family bonds, report finds

April 7, 2016

Morgan Stanley and Campden Wealth research on ultra-high-net-worth families in North America highlights the benefits of formal procedures when deciding on investments

Relationships within families can be strengthened by wealth decision-making, especially when formal procedures are in place, research suggests.

The newly released study by Campden Wealth and Morgan Stanley, Family Decision-Making, found that 44% of members of ultra-high net worth (UHNW) families thought that decision-making had a positive effect on family relationships, while just 19% suggested it had a negative effect.

Top family office CEOs earn more than £300,000

February 10, 2016

Almost one-fifth of family office chief executives earned in excess of £300,000 ($433,000) last year, according to a new survey, compared to the median salary of £175,000.

Almost one-fifth of family office chief executives earned in excess of £300,000 ($433,000) last year, according to a new survey, compared to the median salary of £175,000.

The results were revealed in the Family Office Compensation Benchmark Report 2016 by Agreus, a London-based global family office adviser.

Leading family office CEOS earned $830,000 in 2014

December 4, 2015

Chief executives working for the largest single family offices in the United States had an average remuneration package of $830,000 last year, according to a new survey from financial services empire Fidelity Investments.

Insights on Family Office Compensation, which was co-authored by family-run research company Botoff Consulting, found that chief executives from family offices with more than $1 billion in assets typically received a base salary of $550,000 as well as additional perks to the tune of $280,000.

Why is private equity the most common asset class among family offices?

December 3, 2015

Private equity was the most common asset class among family offices in 2014 and one of the year’s best performers. So why are some executives voicing caution about expectations moving forward?

The popular belief that strong returns in private equity will continue into the future has been challenged by participants in the Global Family Office Report 2015, warning that a build-up in unallocated capital could lead to lesser returns.

According to one chief executive from a single family office in North America, who participated in the report anonymously, the record level of unspent cash is creating undue levels of competition, which is in turn pushing up prices.

New generation of Asian entrepreneurs are in business for the long haul

December 2, 2015

Entrepreneurs in Asia are more likely to take a long-term approach to their enterprise, according to new research – less than a quarter in China intend to exit their businesses compared to half in the UK.

They are also more likely to keep their wealth in the business, with the average turnover in the region sitting at $12 million, compared to $6 million in the West; while their personal wealth is averages $16.2 million – 26% lower than Western entrepreneurs in the US and Europe.

Why are hedge funds the fastest growing asset class among family offices?

November 27, 2015

Low interest rates and lacklustre returns in equities helped the hedge fund asset category gain the largest growth in allocations this year, but a diverse investment strategy from external managers meant that returns were a mixed bag.

The multi-year trend of family offices taking on more risk continued in 2015, triggering a two percentage point increase in allocations to hedge funds, according to the second annual Global Family Office Report.

Data revealed that the average family office portfolio allocated approximately 9% to hedge funds in 2015, up from 7% the year before, making it the fastest growing asset class for the year.

Majority of European family businesses tapping into international markets

November 25, 2015

Three quarters of European family businesses are operating internationally, and 23% say furthering growth abroad is their top priority over the next two years, according to new research.

Three quarters of European family businesses are operating internationally, and 23% say furthering growth abroad is their top priority over the next two years, according to new research.

This is at odds with a common perception that family businesses tend to be domestically-focussed, said the KPMG report European Family Business Trends.

The report was based on research that included surveys with 125 family businesses and a further 125 high net worth individuals.

Charitable donations over $1 million drop 8%, a third gift to higher education

November 20, 2015

Universities remained the main destinations for multi-million dollar donations in 2014, despite a 8% drop in the total number of charitable gifts overall, according to a recently published study of donor trends in six regions around the world.