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• August 26, 2010 - Interview - Filling A Lending Gap As Basel Bank Rules Tighten
  

  Regulators of the global banking system are tightening up the capital standards, which may make sense in a world where the costs of lax credit have been made brutally obvious. Tougher rules, however, can also hurt entrepreneurs – future wealth management clients. As regulations known as Basel II take effect in the US – they are already in force in Europe – it is making it harder to lend where the collateral is an illiquid asset such as a business, argues Alexander Haverstick, chief executive and managing partner at .

• August 18, 2010 - Multi-Family Offices At Crossroads, Business Models Challenged
  

  Multi-family offices are finding themselves at a crossroads: while poised to benefit as single-family offices come under increasing cost and regulatory pressure, they are at the same time confronting formidable challenges to their own business model. Last month’s financial reform legislation, which opened the possibility that family offices with fewer than 15 clients may have to register with the Securities and Exchange Commission, was just the latest concern for beleaguered single-family offices. In May, Robert Casey, the author of Family Wealth Alliance’s annual study of SFOs, said family .

• July 23, 2010 - Strong Service Culture Is Key For Credit Suisse's Private Bank In Americas
  

  As head of Credit Suisse Private Banking Americas, Anthony DeChellis strives to personally meet every relationship manager who ultimately reports to him. “It’s definitely a significant time commitment, but hiring, developing and retaining the most talented professionals in our industry is the cornerstone of our strategy,” said DeChellis in a recent inte. .

• July 20, 2010 - The Dodd-Frank Reforms - The Family Office Implications, Fiduciary Concerns
  

  Legislation overhauling the US financial regulatory system was finally passed by the Senate yesterday and will be signed into law next week by President Obama. For wealth managers and family offices, the Dodd-Frank Wall Street Reform and Consumer Protection Act is the beginning of a new era that will initially be characterized by much uncertainty. The heated battle over what type of fiduciary standard the Securities and Exchange Commission will impose and who will be affected has drawn the lion’s share of attention and scrutiny.

• July 9, 2010 - Squeeze Technology, Not Clients To Raise Profits - Market Street Advisors
  

  Do you know how much it costs your company to maintain accounting information for each of your clients? If the answer is no, you are not alone. The majority of family offices and private wealth managers have not put pen to paper to work out the numbers. If the answer is yes, the follow-on question becomes: who did the calculation? If it was done in-house, chances are good that the number is wrong.

• June 28, 2010 - Private Trust Companies Seen Doubling In Five Years
  

  The number of private trust companies in the US will double in the next five years, according to one of the country’s top legal experts in the field. “We’ve seen interest in private trust companies from wealthy families climb steadily for the past ten years, and I anticipate there will be an explosion of new companies as soon as the Internal Revenue Service comes out with a ruling sometime before the end of the year,” John Duncan, principal and founder of Chicago-based . .

• June 21, 2010 - "Tidal Wave Of Change" Seen Transforming Family-Owned Businesses
  

  Wealth managers and family offices have a golden opportunity to capitalize on a “tidal wave of change” about to transform family-owned businesses, according to one of the country’s leading private investment firms specializing in founder-owned companies. “There are about 22 million family-owned businesses that account for roughly half of gross domestic product,” Rodney Goldstein, chairman and managing director of Chicago-based Frontenac Company, said in an exclusive interview with Family Wealth Report. “At least one-third and possibly one half of the principal shareholders are 55 or over,” Goldstein noted.

• June 16, 2010 - Profile - Wells Fargo's Family Wealth Unit
  

  In a competitive market and uncertain times, the Family Dynamics practice of Wells Fargo’s Family Wealth unit is more than just an add-on service, according to Pat Armstong, managing partner and Family Dynamics head. “I think we’re a critical marketing differentiator that enhances the appeal of Family Wealth,” Armstong said. “The value that we bring is that we are fully integrated into the Family Wealth platform.

• June 9, 2010 - A Look At Multi-Family Offices
  

  A backlash may be brewing against multi-family offices – not what they do, but what they’re called. Some firms are deliberately avoiding calling themselves a multi-family office, and an influential industry association is preparing to release a white paper recommending that firms drop the label. When industry veterans Steve Braverman and Allan Zachariah officially launched their new firm, Pathstone Family Office, last week, they pointedly described it as “a single family office for multiple clients.

• June 3, 2010 - Handle Ultra High Net Worth Clients With Care - Experts
  

  If the ultra-high net worth market was a newly purchased product, the package would probably come with a warning: “Handle With Care. ” Especially these days. Understanding client psychology and behavioral finance have become increasingly important when dealing with ultra high net worth clients, loosely defined as individuals or families with at least $20 million in investable assets, say industry experts.




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