Family Offices: What Do They Want From Wealth Managers?

Table of Contents

• CHAPTER 1 INTRODUCTION
  • What is this report about?
  • Who is the target reader?
  • How to use this report
• CHAPTER 2 MARKET SIZE, STRUCTURE, ISSUES & ACTION POINTS
  • The family office space is expansive, with some 11,000 family offices worldwide
  • Wealthy families are sophisticated investors and the products & services they demand reflect the need for an in-depth and sophisticated service
    • Wealthy families are essentially institutional investors and thus demand institutional-level service
    • Wealthy family clients are looking for a variety of investment products from tax-efficiency to global private equity
  • Providers need to work with family offices to ensure their clients are receiving the most suitable and best performing investment products
    • Multi-family offices and providers must collaborate to ensure they enjoy the mutual benefits of family office growth
    • Providers must do their part by providing adequate reporting
    • Reporting should be supplemented by strong, transparent online platforms
    • Both parties should take steps to ensure that the roles of providers and family offices don' t overlap
    • Providers must take more steps to effectively cater to international families, especially in the U.S.
    • Providers should do their utmost to ensure family office representatives have a full understanding of the application and use of their products
    • Direct distribution of business information materials to family offices may also prove helpful
    • Providers should be selective in offering only the best available funds to family offices
    • These funds should be provided at institutional rates
    • Provider compliance procedures should be shortened and simplified
    • Many larger multi-family offices are not plagued by product, service, reporting and communication issues, as these are usually handled in-house
• APPENDIX
  • Definitions
  • Research methodology
  • Further Reading
    • Global Wealth Management SPP
      • Interactive Databases
      • Market Reports
      • Strategic Insight Reports
      • Wealth Management Competitor Tracker
    • Datamonitor Asia Pacific Wealth Management SPP
    • Savings and Investments SPP
      • Interactive Databases
      • Reports
  • SPP writing team