'The Family Office -- Advising the Financial Elite' Released by Charter Financial Publishing Network
New Title Examines Increasing Popularity of Family Office Model Among High-Net-Worth Communities
NEW YORK, Aug. 9 /PRNewswire/ -- Charter Financial Publishing has released "The Family Office – Advising the Financial Elite," a definitive guide to the family office industry including in-depth analysis of the trends and developments that are driving the rapid growth of the sector. The book was co-authored by acclaimed wealth management experts Russ Alan Prince, President of Prince & Associates, Inc.; Hannah Shaw Grove, a consultant to the ultra-wealthy; Keith M. Bloomfield, President and CEO of the Forbes Family Trust; and Richard J. Flynn, head of the Rothstein Kass Family Office Group. "The Family Office – Advising the Financial Elite" retails for $150 and is available for order online at www.HSGrove.com.
"For more than a decade, strong investment returns created vast wealth that drove the proliferation of the family office as the preferred model for ultra-wealthy families. Contrary to some expectations, however, the trend toward family office formation has intensified over the past few years. For some high-net-worth families and their advisors, recent and extreme market volatility offered a harsh reminder of the downside of maintaining a singular focus on asset management components and obviated the need for a unified approach to wealth creation, preservation and transfer. This has supported the continued creation of family offices, representing a broad array of structures, products and services, making the sector notoriously difficult to define," said Mr. Flynn of Rothstein Kass. "This book – more than six years in the making - provides unprecedented access to a community that deeply values privacy, to shed light on the shared characteristics of successful family office operations, as well as common behaviors of the wealthy clientele they serve."
"The Family Office – Advising the Financial Elite" features analysis of current trends that draws on statistical findings from 86 distinct sources, including industry consultants, academics, think tanks, financial institutions and government organizations. Stories and anecdotes gathered through decades of work with the ultra-wealthy provide context for research-based insights that help to identify patterns among the behaviors and philosophies of the world's richest families and individuals. From the motivations for establishing a family office to the products and services offered, "The Family Office – Advising the Financial Elite" delivers a comprehensive overview of this burgeoning segment of the wealth management industry.
"Research suggests that individuals and families with $20 million in net-worth are increasingly gravitating to the multifamily office model rather than the more traditional single-family office structure. However, determining the ideal structure remains a customized process considering factors that can vary greatly from family to family. Ultimately one essential component to success is identifying a skilled individual to serve in a centralized capacity to oversee and reconcile interrelated financial, lifestyle and philanthropic objectives as elements of a cohesive plan," said Mr. Flynn. "This role is critical to the effectiveness of the family office and is often filled by either an internal or outsourced Chief Operating Officer. Regardless of the title, this individual must possess a rare blend of leadership, technical expertise and related financial services acumen."
About the Authors:
Russ Alan Prince is the president of Prince & Associates, Inc., one of the leading high-net-worth research firms, and an authority on private wealth creation and preservation.
Hannah Shaw Grove is a highly regarded specialist on the mindset, behaviors and finances of the ultra-affluent, and consults to a select group of individuals and professionals.
Richard J. Flynn is head of the Rothstein Kass Family Office Group and an expert on the sophisticated financial and lifestyle concerns of the world's wealthiest families.
Keith M. Bloomfield is the president and chief executive officer of the Forbes Family Trust and a veteran of the wealth management business.
About Charter Financial Publishing Network:
Charter Financial Publishing Network (CFPN) is an employee-owned company led by one of the most experienced and respected publishing teams ever assembled, including editorial director Evan Simonoff (former editor-in-chief of Financial Planning), group publisher David Smith (former publisher of Dow Jones Investment Advisor) and Charlie Stroller (former president of Dow Jones Financial Publishing Corp.).
About Rothstein Kass:
Rothstein Kass is a premier professional services firm that has served privately held and publicly traded companies, individuals, and families for more than 50 years. Rothstein Kass is consistently ranked as a top CPA firm to the alternative investment industry in independent, third-party surveys. The Rothstein Kass Financial Services Group provides services to many high-profile and respected clients including hedge funds, fund of funds, private equity and venture capital funds.
The Rothstein Kass Family Office Group offers a wide range of financial, wealth planning and lifestyle management services to family offices and high-net-worth individuals. Composed of seasoned financial professionals and certified public accountants, the Family Office Group applies proven expertise with the utmost discretion and attention. Clients include business owners and members of the financial services, entertainment and sports communities.
About Forbes Family Trust
Forbes Family Trust is a multifamily office dedicated to the values of relationship building responsiveness, and expertise. The Forbes Family Trust mission is to help wealth individuals and families preserve and enhance the value of their assets through long-term relationships based on unparalleled services, responsiveness and intellectual rigor.
SOURCE Rothstein Kass
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