Two of the MAJOR reasons I joined RSM: 1. Tony Wood and 2. the value RSM can deliver as an outsourcing solution to family office leaders and investment teams who want to focus on investing and buying companies for their principals 🫡
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Driving Innovation in Portfolio Management and Accounting for Family Offices - Director of Business Development at Ledgex | Expert in Sales, Finance, and Marketing
We're witnessing a surge in Family Offices in the US and across the globe. According to a recent RSM survey, newer offices are outsourcing more positions and technology. If you're seeking a comprehensive portfolio management and accounting solution specializing in Family Offices, feel free to message me. #familyoffice #wealthmanagement #ledgex #wealthtech Nicole Eberhardt Christopher McCoy Wendy McCoy Brian Nickerson
New Family Offices Can Teach Old Ones a Data Trick
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Explore the catalysts driving family offices shift toward private markets, the challenges that come with that shift and how outsourcing can help. https://lnkd.in/eYei3dMD
Private Market Operational Challenges for Family Offices
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Collaboration Catalyst | Podcast Maven | Unleashing Opportunities and Amplifying Brand Influence through Strategic Partnerships
Strengthening client relationships is paramount for professional service firms. This Forbes article unveils 20 innovative ways to transform your partnerships, including our very own Jody Grunden, Partner & Virtual CFO Practice Leader #PartnershipBuilding #GrowthStrategy #PartnershipModel
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Interesting article : Family offices place more value in outsourcing With an eye on the future, family offices are looking to balance enhancing operational performance with protecting the family legacy. #familyoffices #220dots https://lnkd.in/g2QghyKK
Family offices place more value in outsourcing - Spear's
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Strengthening client relationships is paramount for professional service firms. This Forbes article unveils 20 innovative ways to transform your partnerships, including our very own Jody Grunden, Partner & Virtual CFO Practice Leader #PartnershipBuilding #GrowthStrategy #PartnershipModel
Council Post: 20 Ways To Elevate The Partnership Model In Professional Service Firms
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Strengthening client relationships is paramount for professional service firms. This Forbes article unveils 20 innovative ways to transform your partnerships, including our very own Jody Grunden, Partner & Virtual CFO Practice Leader #PartnershipBuilding #GrowthStrategy #PartnershipModel
Council Post: 20 Ways To Elevate The Partnership Model In Professional Service Firms
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Tracking the most Active VCs & FOs Worldwide for Tech Startups. (POWER CONNECTOR) Talks about #fundraising #startup #DeepTech #M&A #FOs #VCs #LPs #PE
In a survey of 100 single family offices by accounting and consulting firm RSM, 97 percent said they relied on some kind of external service provider during the past 12 months. The overwhelming majority is not a surprising result. Family offices have an average of only 14.4 employees so most lack the resources and personnel to create all the systems and software they desire on their own. In the same RSM survey, 62 percent of single family offices said that having best-in-class technology is a challenge to develop and maintain in-house. RSM surveyed family offices in the U.S. and Canada and they varied across size, generations, and operating business sector, as well as years in operation and expenses. The firm works with more than 600 family offices in the U.S. and Canada and more than 1,000 globally. #sovereignwealthfunds #investments #dealmaking #capital #fundraising #fundmanagers #funds #funding #capitalraising #familyoffices #venturecapitalists #LPs #GPs #VCs #hedgefunds #FOs
New Family Offices Can Teach Old Ones a Data Trick
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Partner at Fusion Group ✧ Making independent financial advice better, more affordable and accessible to everyone
Understanding the Cost Structure of Family Offices 📊 Understanding the cost structure of a family office is crucial for maintaining the balance between the benefits provided and the expenses incurred. Here's a breakdown of how these costs typically work: 𝟭. 𝗣𝗲𝗿𝗰𝗲𝗻𝘁𝗮𝗴𝗲 𝗼𝗳 𝗔𝘀𝘀𝗲𝘁𝘀 Family office expenses often range from 1% to 2% of the total active assets under management (AUM). This includes investment portfolios, trust assets, and liquid assets. 𝟮. 𝗔𝗻𝗻𝘂𝗮𝗹 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗻𝗴 𝗕𝘂𝗱𝗴𝗲𝘁 A general rule of thumb is that the annual operating costs should be around 1% of AUM. However, this can vary widely based on the complexity of operations and the scope of services provided. 𝟯. 𝗙𝗲𝗲 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲𝘀 Family offices can employ various fee structures: - Variable fees based on hourly rates. - Variable fees based on a percentage of AUM. - Fixed fees for a defined scope of services. - A flat rate designed as a reimbursement for costs allocated. - A hybrid of the above. 𝟰. 𝗟𝗮𝗿𝗴𝗲𝘀𝘁 𝗖𝗼𝘀𝘁 𝗖𝗼𝗺𝗽𝗼𝗻𝗲𝗻𝘁 Compensation for staff often represents the largest annual cost, ranging between 50% and 75% of the budget. That is why it’s crucial to invest in the right talent. 𝟱. 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗲𝘀 𝗼𝗳 𝗦𝗰𝗮𝗹𝗲 Larger family offices may benefit from economies of scale, potentially reducing the percentage cost relative to AUM as assets increase. 𝟲. 𝗢𝘂𝘁𝘀𝗼𝘂𝗿𝗰𝗶𝗻𝗴 𝘃𝘀. 𝗜𝗻-𝗛𝗼𝘂𝘀𝗲 Deciding which services to keep in-house and which to outsource can significantly affect costs. Outsourced services typically require specialised skills or significant infrastructure. 𝟳. 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆 & 𝗙𝗮𝗶𝗿𝗻𝗲𝘀𝘀 Whatever fee structure is chosen, it should be transparent to the family and fair compared to market rates. 𝟴. 𝗕𝗲𝗻𝗰𝗵𝗺𝗮𝗿𝗸𝗶𝗻𝗴 Regularly comparing costs to industry standards can help ensure that fees remain competitive and reasonable. 𝟵. 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗙𝗲𝗲𝘀 Major expenses include investment-related costs, including in-house staff, IT, external investment management, and custody fees. 𝟭𝟬. 𝗟𝗼𝗻𝗴-𝗧𝗲𝗿𝗺 𝗜𝗺𝗽𝗮𝗰𝘁 Over time, even small differences in fees can significantly impact investment returns, making cost management a strategic priority. A family office's cost structure balances the quality of services and fees. Source - Deloitte #FamilyOffice #WealthManagement #CostStructure #AssetManagement #FeeStructures *** If you enjoyed reading this or learned something, ♻️ share this with others and 🔔 follow me Taras Rybak for more.
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C100Global I The Tribe of Strategic Wealth Creator & Extraordinary Legacy Building Entrepreneurial Families I The Goal isn’t to live forever-the Goal is to produce something that will!
Great article from PwC Switzerland. Marco Tremonte explains clearly the increasing role of Family Offices at Deals. Furthermore, that Article shows also clearly, that we need more focused Family Office Peer Groups to learn from each other. https://lnkd.in/dyWCw527
Family Office Deals Blog
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Perkins & Squire | The E&I Graham Foundation
6moAgreed. RSM is solid