Expansion of family-office industry leads to blurring of distinctions
The term ‘family office’ has become generic, so is apt to cause confusion
Multiple-client deals at a premium but one size does not fit all
Even if you are well connected in a sector and a region, good direct deals are hard to find, writes Jeremy Hazlehurst
Nimbleness and focus provide an edge for family offices
Remaining one step ahead of the pack is central to the success of a single family office
Economies of scale play against bespoke touch
Banks expand offices while smaller firms promote expertise in handling complex client needs
Investors prefer to have more control
Direct investing is on the rise, but is it really the best option?
Rewards are high but so is the commitment
Finding staff with the right experience and attitude can be tricky
Familiarity promotes a certain way of doing business
Encouraging customers to diversify can be difficult
Emerging markets: Call goes out for specialist advice
The well-heeled from fast-growing economies increasingly look to succession planning
Shroud of secrecy starts to slip away
Very wealthy families are becoming more and more globalised
Strategies: Clients look to maintain a ‘safe pot’
The discussion revolves around the levels of risk investors are willing to take on and over what period of time
Written constitutions: Whatever you want, get it down in black and white
Formal accords are on the rise
Smaller-scale advisers seek edge by offering bespoke strategy
Competition is fierce to manage the global affairs of the newly affluent from emerging market countries
