Single Family Offices Losing Ground
As a follow up to a post we put out a few weeks ago, here is some more evidence that multi-family offices may still be growing as some wealth management operations and single family offices struggle:
Citing a collapsing investment market and increased demands from family members, many single-family offices are worried about keeping their doors open, saying that “sustainability” is the biggest challenge they face.
That was a key finding from the “Single-Family Office Study" released last month by Family Wealth Alliance LLC of Wheaton, Ill.
“For single-family offices, assets are down and expenses are up,” said Thomas Livergood, chief executive of Family Wealth Alliance.
“When things are hunky-dory, as they've been for the past few years, nothing is questioned,” he said. “When things start going wrong, everything is questioned.”
Many single-family offices “will need to change,” Mr. Livergood said. source
To learn more about family office wealth management firms please visit
FamilyOfficesGroup.com.
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