The Family Office Association

How wealthy families and clients are serviced by family offices and wealth management firms is often extremely opaque. A new initiative by the The UHNW Institute is attempting to bring 'standards and clarity' to the marketplace. A progress report will be presented next month in New York. Steve Prostano Jim Grubman Wallace (Wally) Head Joe Calabrese Richard Joyner Tom McCullough Kevin Casey Tom Burroughes Family Wealth Report #familyoffices #wealthmanagement

? Family offices have experienced a noticeable increase in public attention in recent years. Despite this, many family offices endeavor to remain private and operate discretely, even when their clients possess significant public profiles. Discretion is an essential value for these entities. However, family offices typically become visible under unfavorable circumstances, such as regulatory violations or involvement in high-profile transactions. This limited public exposure underscores their commitment to maintaining the privacy and interests of the families they serve. The juxtaposition of considerable influence and a nearly invisible presence is noteworthy. It reflects the expertise and dedication of family offices, which manage substantial wealth while avoiding the public eye. How do you think the role of family offices will evolve in the coming decade, given the increasing scrutiny and regulatory challenges? Share your thoughts below... ? #FamilyOffices #Family Wealth #Familybusiness #WealthManagement

Great advice and informative report

We hope you enjoy this month’s?The Family Office Association?Economic Update??which includes a wealth of data and exhibits on the USA economy and selected States. You will also find market returns, 10-Year expected asset class returns, private equity price and leverage multiples, GP commitment data by sector, and the current economic release calendar for your convenience. In addition, you will also find included TFOA's whitepaper on The Family Office Industry... ??This whitepaper examines the concept of a "family office industry" through the lens of two prevailing lenses (referred to as "laws") that capture the inherent tensions in the field: 1. the "first law" highlighting the idiosyncratic nature of each family office, and 2. the "second law" describing the cross-cultural phenomenon of wealth dissipating within three generations. The authors posit two emergent categories - internal family offices designed exclusively within a family, and external professional firms offering family office services - that exist in a symbiotic relationship exchanging expertise. While external firms drive standardization and operational efficiency, internal offices prioritize individualized legacy planning aligning to a family's unique mission. The paper argues the viability of a true "family office industry" hinges on negotiating this dichotomy, proposing that resilient models integrate strengths of both internal tailoring and external process. Ultimately, the "industry" etymology is scrutinized, reframing family offices as operating in the "business of legacy" - an aesthetic rather than purely financial paradigm requiring multi-generational vision shaped through family dialogue before advisors can develop executable plans. ? https://lnkd.in/gpA2R9ir #FamilyOffices #fFamilyWealth #FamilyBusiness #WealthManagement

I enjoyed reading Henry Brandts-Giesen's thoughtful piece on the professionalisation of private wealth and the changing nature of wealth advisory relationships to capture the broader dynamics of #familycapital Well worth the read exploring the development of 'family advisory' practices within wealth management practices and professional services more broadly. #familywealth #transition #decisionmaking #governance

On behalf of The Family Office Association (“TFOA”) thank you to everyone who joined us last week for our 10th Annual Single Family Office Symposium. We hope you enjoyed the experience! #familyoffices #familywealth #familybusiness #TFOA

https://lnkd.in/giaamjkc

We are delighted to have NextGen Capital as a Platinum sponsor this September 10th and 11th, 2024, when The Family Office Association (“TFOA”) will be hosting our 10th Annual Single Family Office Symposium in Dallas, TX. In addition, the following speakers will be joining us this year: ?? Kyle Bass, Founder and Chief Investment Officer of Hayman Capital Management ?? John Phelan, Co-founder of MSD Partners and Chairman of Rugger Management ?? Paul Carbone, Co-Founder and Vice Chairman of Pritzker Private Capital ?? Ray Washburne, President & CEO of Charter Holdings ?? Drew McKnight, Co-CEO of Fortress Investment Group ?? Sunny Vanderbeck, Co-Founder of Satori Capital ?? Itay Blasenheim, Former Global Head of Citi Direct Private Investments Why is TFOA’s Annual Single Family Office Symposium unique? ?? Attendees are family office executives and principals who actively engage in our single family office community throughout the year. ?? Speakers are invited to attend based on their expertise, not because they pay for the opportunity. ?? Sponsors are aligned philosophically with our long-term relationship and brand building approach. There is no solicitation. ?? We partner with top universities to emphasize our commitment to learning and education. Profits from our Symposium are donated to our university partners for student scholarships. ?? TFOA is not a commercial organization. Everything we do is designed to ensure a high quality and high impact experience for our stakeholders. We hope you can join us and please tell your friends! ?? In-Person Attendance –open to family office principals and senior executives: www.tfoatx.com/membership ?? Virtual Attendance – open to anyone, please click the Virtual Track button on our website: www.tfoatx.com/symposium ?? Sponsor Opportunities – open to a few select sponsors to attend in person, please email for more information: [email protected] #familyoffice #familywealth #familybusiness #TFOA #SMU

We are delighted to have Tradecraft Capital as a Platinum sponsor this September 10th and 11th, 2024, when The Family Office Association (“TFOA”) will be hosting our 10th Annual Single Family Office Symposium in Dallas, TX. In addition, the following speakers will be joining us this year: ?? Kyle Bass, Founder and Chief Investment Officer of Hayman Capital Management ?? John Phelan, Co-founder of MSD Partners and Chairman of Rugger Management ?? Paul Carbone, Co-Founder and Vice Chairman of Pritzker Private Capital ?? Ray Washburne, President & CEO of Charter Holdings ?? Drew McKnight, Co-CEO of Fortress Investment Group ?? Sunny Vanderbeck, Co-Founder of Satori Capital ?? Itay Blasenheim, Former Global Head of Citi Direct Private Investments Why is TFOA’s Annual Single Family Office Symposium unique? ?? Attendees are family office executives and principals who actively engage in our single family office community throughout the year. ?? Speakers are invited to attend based on their expertise, not because they pay for the opportunity. ?? Sponsors are aligned philosophically with our long-term relationship and brand building approach. There is no solicitation. ?? We partner with top universities to emphasize our commitment to learning and education. Profits from our Symposium are donated to our university partners for student scholarships. ?? TFOA is not a commercial organization. Everything we do is designed to ensure a high quality and high impact experience for our stakeholders. We hope you can join us and please tell your friends! ?? In-Person Attendance –open to family office principals and senior executives: www.tfoatx.com/membership ?? Virtual Attendance – open to anyone, please click the Virtual Track button on our website: www.tfoatx.com/symposium ?? Sponsor Opportunities – open to a few select sponsors to attend in person, please email for more information: [email protected] #familyoffice #familywealth #familybusiness #TFOA #SMU