The Wealth Adviser reports 3 main trends emerging at Alliance Partner Summit in Florida.
The tax changes in the past 2 years mean that there is an enormous shift of wealth to the younger generation, which puts some pressure on them. That creates an increased need for educating family members as well as family governance mechanisms to be put in place.
The need to understand and apply different family office business models were being discussed in more details with multifamily offices exploring the ways of differentiating their services from private banks and brokers.
Finally, one of the points risen quite often was that trust and confidence are still an issue for many families who consider new providers.
According to one of the speakers, SFOs and MFOs will care less about alpha at the moment and will focus more on creating comprehensive solutions for family members.
To read more go to: Wealth Adviser
To learn more about trends for family members and how to optimise family office business model you can attend Managing Family Office & Wealth programme in London and Dubai