Research analysts should benefit from changes in family offices as firms that advise and manage the assets of wealthy clients look for ways to recover from the bruising many of them took during the recession.
A survey by U.S. Trust and Campden Research found that 23 percent of family offices admit they have a shortage of financial analyst skills. Twenty two percent plan to recruit analysts over the next three years.
Other moves family offices are considering:
- Opening up to non-founding family clients (28 percent).
- Retaining top investment professionals by providing more opportunities to earn and run more and larger investments (31 percent).
- Opening an internal hedge fund or private equity fund (23 percent).
- Opening a private equity or hedge fund of funds or diversified investment service (15 percent).
Family offices are "poised for a period of significant evolution," said Belinda Sneddon, group executive of U.S. Trust Family Office. "The family office model is turning back to basics, enhancing risk assessment and focusing on its strengths which lie primarily in wealth management services."