Family offices are increasingly looking to invest in private equity—which has historically been known as a volatile asset class—on an opportunistic basis, as opposed to hedge funds and other alternative investments.
Foundations with less than $50m showed strong growth in size and grantmaking during 2012, according to Foundation Source’s 2013 Annual Report on Private Foundations. In the aggregate, assets held by the foundations in the report grew by 10% from $1.9bn at the end of 2011 to $2.1bn by the end of 2012.
Against this backdrop, foundations in the study increased charitable disbursements from 11.2% of average asset balances in 2011 to 11.7% in 2012. Private foundations with less than $50m account for 98% of the approximately 86,000 private foundations in the US.
By Frederick Hinkley, partner and senior advisor, Netplus Capital
By far one of the most challenging situations for an investor is to know when to take a profit or enter into a new investment. Today more than ever, there is a steady stream of investment ideas or better investment opportunities that should be considered. From private families to well-structured investment management teams, their “watch list” of investments is always up for disruption with new proposals offered by analysts, investment sales persons, wealth advisors, or simply a passing insight that one may have.
Among the world’s high net worth individuals (HNWIs), 61% have a high degree of trust in both wealth managers and their firms in early 2013, according to the “World Wealth Report 2013” from Capgemini and RBC Wealth Management.
BNY Mellon will continue to cement its Florida footprint, with a number of additional appointments in the pipeline to ensure they capitalize on the growth opportunities available.
They recently added to their Miami wealth management office, bringing in former SunTrust Bank high-net-worth client advisor Eric Stein and boosted their West Palm Beach office with Christopher Facka as senior director for business development, a newly-created role.
Florida represents a very interesting market for BNY Mellon, according to regional president (Florida-East) Joe Fernandez.
The former manager of the Rolling Stones is among several wealth management luminaries to be involved in a newly-minted family office – Holbein Partners – based near London’s Hyde Park.
GenSpring Family Offices, a leading ultra-high net worth (HNW) family wealth management firm, has promoted Nikki Gokey to president of the Florida region.
Gokey, who joined GenSpring in 2004, will oversee the operations and delivery of wealth management services in Palm Beach, Orlando, Tampa Bay, Miami and Sarasota.
The firm’s chief advisory officer, David Bokman, said, “Nikki exemplifies why wealthy families are increasingly turning to GenSpring to manage the complexities of their financial lives.
Wealthy people have heard much advice on how to answer the ubiquitous question to the paralyzed parent: “Mommy, Daddy, are we rich?” The advice given on this and related issues is getting better as advisors develop robust and sometimes research-backed financial literacy curriculums that help put such advice in context.
Fund Intelligence membership gives your firm access to an unique analysis and networking platform providing actionable data, insights and contacts that enable you to raise capital, comply with regulation and benchmark against peers.
Seven specialist networks for the latest industry trends
Direct access to actionable industry intelligence
Benchmarking data for flows, performance and product development
Peer group and allocator/advisor networking opportunities
Compliance data and tracking tools
Access to networking events and educational webinars
Access to our team of dedicated analysts and account handlers