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Survey: Ranks of rich thinned in 2008
There were far fewer wealthy people at the end of last year, and those millionaires and billionaires that remained saw their assets plunge in value, according to a new study.
High-net-worth families look harder at wealth managers
Wealthy families are applying an increasingly rigorous level of scrutiny to their selection process when choosing wealth managers and family offices, industry executives say.
Wealthy investors still shy about investing, survey shows
While most wealthy investors agree that opportunities exist in the current market, they are not taking advantage, due to the risk of further price declines, according to a report released today by Barclays Wealth.
Head winds aside, family offices are bullish
Multifamily offices are expecting robust growth in the next six months, despite the continued financial paralysis of many wealthy clients.
Sit tight after selling family business, experts counsel
Wealthy families who have sold a business this year and are sitting on cash should wait at least six months before making investment decisions, especially in the current economy, according to family wealth experts.
Millionaires break out the champagne as Spectrum index takes record leap
The Spectrem Millionaire Investor Index rose 17 points to -2 in May, recording its largest advance in the history of the index.
Wealthier women sit in driver’s seat
Household financial decisions are being made increasingly by affluent women, creating opportunities for financial advisers, according to two industry surveys.
Less wealth means less pay for high-net-worth advisers
Compensation is expected to rise in some sectors of Wall Street this year — but not for bankers and advisers who work with high-net-worth clients, according to a new report.
Ex-NFL star Wayne Chrebet hired as adviser in Morgan Stanley wealth group
National Football League veteran Wayne Chrebet, 36, has been hired as a financial adviser for The Moldaver Group, one of Morgan Stanley's wealth management groups, the latter announced today.
Advisers face ‘substantial’ turnover of wealthy clients
It only took a matter of months for the markets to lose nearly half their value, but financial advisers will apparently feel the ripple effects of the economic crisis for years.
Single-family offices face balancing act
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.
With clock ticking, some urge clients to establish GRATs
Wealth managers and tax attorneys are advising wealthy clients who may need to minimize gift and estate tax payments to consider taking advantage of a popular tax-planning tool while they still can.
Family Wealth Alliance to offer family office designation
The Family Wealth Alliance’s newly formed Alliance University will begin offering courses in September that will pave the way for a “family office relationship management” designation within three years.
Up to 30% of clients will change advisers, consultant predicts
It took only a matter of months for the markets to lose nearly half their value, but advisers will feel the ripple effects of this economic crisis for years, predicts a prominent consultant.
Bank customers urged to come clean on offshore accounts
Wealthy Americans who have offshore bank accounts may be sweating more than usual this summer.
IMCA’s wealth adviser program taps demand for advanced skills
The recession may have taken a toll on wealth, but wealth management is alive and well.
New interest from advisers in moving to multifamily offices
Making a move to a multifamily office is piquing the interest of financial advisers with high-net-worth clients.
Multifamily office gains favor with high-net-worth investors, study says
High-net-worth investors are moving their money to multifamily offices, according to a new study that will be released Monday by New York-based accounting and financial services firm Rothstein Kass.
Spectrem Group survey shows marked uptick in outlook of wealthy
The Affluent Investor Index rose nine points in April, bringing it to the highest level since August 2008, Chicago-based Spectrem Group announced today.
Millionaires sing the recession blues
An increasing number of millionaires don’t feel wealthy, largely due to the losses they experienced in the markets last year, according to a study released by Fidelity Investments of Boston.
