UHNW Wealth Management and Family Offices

UHNW Wealth Management

Below is an excerpt from an article discussing the ongoing battle between HNW and UHNW wealth management firms and family offices to manage the portfolios of those with $5-10M+ in assets. As has been the trend for over 15 years now firms are moving towards outsourcing some functions while those family office which can present a diverse team of professionals to UHNW individuals continue to win assets. I believe any large changes made to the tax codes will also benefit family offices as they will have the well connected in-house experts able to interpret and apply these changes to investments more rapidly than anyone else. Here is the article excerpt:

A Dow Jones After The Crunch survey of 300 individuals in the high net worth community found a significant loss of trust in incumbent advisers, following damage done to portfolios during the credit crunch.

The worth of the wealthy has fallen by a quarter from its peak of $40 trillion at the end of 2007, according to a survey published by Merrill Lynch and consultant Capgemini. Consulting firm Roland Berger said the pot was not even near $40 trillion in the first place, after stripping out funds locked into real estate, pension plans and family businesses. The fall in the UK is more than a third, according to The Sunday Times Rich List.

But plenty of people have retained their wealth and they want to find advisers capable of helping them keep things that way. Competition for their business is intensifying as fund managers, technology providers, lawyers and asset servicers are all targeting the wealth wallet. source

This article was originally published on FamilyOfficesGroup.com.

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Tags: ultra high net worth wealth management, UHNW wealth management, UHNW, High net worth, family offices, family office, UHNW Financial Planning