|
|
Bailey McCann, Opalesque New York:
Single-family offices are providing a new service to the high net worth families that they represent, according to the results of a recent survey from Rothstein Kass, a New-York based professional services firm. The report, Safe & Sound: How Single Family Offices Are Addressing Family Security shows that family offices are providing a range of new security services as the threats to high net worth families increase.
The report notes that the growth of single-family offices is at an all time high and the talent pool for executive directors is also growing to meet demand. However, the ultra wealthy families that use the family office model are increasingly vulnerable to unscrupulous advisors, criminals and now cyber attacks. According to the report, "nearly nine out of ten single-family office directors we surveyed expect the security challenges will worsen."
Investable assets controlled by single-family offices have increased dramatically in the last two years. The report shows that the average investible assets of single-family offices in 2011 was $415.7mn up from $236.4mn in 2009 giving them sizable investment potential. In the past, single-family office executive directors provided wealth management services for these investable assets. However, a second layer, lifestyle services is em...................... To view our full article Click here
|
|