Family offices: what do they want from wealth managers?

Published by: Datamonitor

Published: Mar. 9, 2007 - 21 Pages

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

Abstract

Introduction

This report will outline what family offices want from wealth managers to asses the most appropriate business model, pricing, products and services.

Scope

• Analysis into the size of the family office market on a global scale.
• Assesses the nature of the relationship between family offices and providers.
• Opinion and information collated from extensive interviews with several family offices.

Highlights

Wealthy families are sophisticated investors and the products & services they demand reflect the need for an in-depth and sophisticated service. Providers need to work with family offices to ensure their clients are receiving the most suitable and best performing investment products. The sophisticated and demanding nature of the family office customer base necessitates up-to-the minute, quality information.

Reasons to Purchase

• Identify the size of the family office space on a global scale.
• Discover the type of products most in demand from family office customers.
• Identify the key areas where providers can improve the service they offer to family offices.

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