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Will New Guidelines Bolster Family Offices? Or Become Their Kryptonite?

Will New Guidelines Bolster Family Offices? Or Become Their Kryptonite?

By David Drake In the past few years, several changes have been made in the family office regulatory environment. Family offices that were not registered with the US Securities and Exchange Commission (SEC) in 2011 had to reassess their acquiescence with the latter’s regulations, which restricted family offices qualifying for exemption of the Registered Investment Advisors. The Final Rule 275.202 (a)(11)(G)-1, that came to effect on 22 June 2011, outlined the family offices excused from registration requirements contained in the Investment Advisers Act of 1940, and amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act -“Dodd-Frank Act” in July of 2010. As Registered Investment Advisers, family offices are subject to SEC’s oversight, and are expected to observe SEC’s regulations and reporting requirements with regard to annual disclosures, compliance programs, record keeping, solicitation agreements, plus marketing and advertising. “This is important because investors are looking for a well-grounded, long-term ... Read More »

Family Offices: Boutiques And Big Banks Vie For $46T In Assets


Family office businesses are booming around the globe, largely in response to increased demand from a growing demographic – wealthy individuals with at least $1m in investable assets. That demographic grew by over 9% in 2012, to 12 million individuals worldwide, according to a report from Capgemini and RBC Wealth Management. Nearly 85% of wealthy families today squander their fortunes by the third generation, according to James Hughes, who has authored several works on wealth management. In the vast majority of cases, Hughes attributes their decline to a lack of communication between family members that keeps them from making important financial decisions as a family. North America represents the largest growth in the number of millionaire investors – an 11.5% increase in 2012 – to 3.73 million, that’s nearly four million people with at least a million dollars to invest, excluding their primary residence and other net worth assets. Total assets ... Read More »

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