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RESEAR CH + RANKINGS


THE WORLD’S T OP 25 INDEPENDENT MULTI FAMILY OFFICES


THE LIST


1. Bessemer Trust (US) 2. Stonehage Fleming (UK) 3. Glenmede (US)


4. Oxford Financial Group (US)


5. Silvercrest Asset Management (US) 6. Tiedemann Wealth Management (US) 7. Veritable (US)


Future prospects Both ultra-wealthy families and their


managers have been profiting nicely as global stock markets continue their meteoric rise upwards, particularly in the US. However, this ‘bubble’ (as some


call it), is leading managers to be cautious. Spudy says it would not be altogether bad to “realise profits and reduce possible risks in the portfolio as a whole. It makes sense to liquidate investments,”, but notes that new investments should be found before liquidations happen. He also notes clients should keep managers’ fees in mind before making the changes. Whatever the investment mix, the


falling markets, or the buying out of multi family offices by bigger banks, there is one thing above all that remains fundamental: Relationships. “We build enduring relationships


with clients as their trusted adviser, and are now working in some cases with three different generations of the same family,” Hudson says. “While no family is the same, it is


very unusual to find a problem we have not dealt with before, and clients benefit from this rare and valuable experience.” And both parties will hope to reap


the benefits of such a relationship. Because if the next bubble does burst, managers really won’t want to face the wrath of their clients …again.


22 CAMPDENFB.COM


8. Spudy Family Office (Germany) 9. BBR Partners (US)


10. Pathstone Federal Street (US) 11. Whittier Trust (US) 12. Aspiriant (US)


13. Stanhope Capital (UK) 14. Commerce Family Office (US)


$66 billion $46 billion


$34.3 billion $20 billion $19.3 billion $17 billion $14 billion $12.7 billion $12.1 billion $12 billion $11 billion


$10.5 billion $10 billion $8.8 billion


15. ATAG Private & Corporate Services (Switzerland) $8 billion 16. TAG Associates (US)


$7 billion


17. Meeschaert Group (France) 18. Ballentine Partners (US)


$6.7 billion $6.4 billion


19. Clarfeld Wealth Strategists & Financial Confidantes (US) $6.1 billion 20. Gresham Partners (US)


21. Athena Capital Advisors (US) 22. 1875 Finance (Switzerland) 23. WE Family Offices (US)


24. Laird Norton Wealth Management (US) 25. Tolleson Wealth Management (US)


$5.6 billion $5.5 billion $5.1 billion $5 billion


$4.9 billion $4.9 billion


Note: (1) Ranked by assets under management (USD). USD exchange rates from reporting currency as of 7/11/17. (2) Spudy Family Office does not offer asset management, to ensure it does not compromise its independence. The figure represents assets under control, not assets under management or assets under administration. (3) Bedrock (UK) has around $13 billion of client assets under administration, but have not been included in list. They did not disclose assets under management or assets under advisement.


Source: Company sources, company websites, Bloomberg


ISSUE 72 SUPPLEMENT | 2017


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