Just 10% of the 120 single family offices surveyed chose increasing market volatility as the most worrying challenge in today’s asset management industry.
The survey reported the growing difficulties wealth managers are facing in complying with the flood of new regulations brought on by the financial crisis.
Family offices often do not have the staff capacity to cope with all the new rules, especially if operating across several countries.
Together with the difficult market situation, increased regulatory demands have reset family offices’ priorities with many switching to wealth preservation rather than wealth generation.
More than 70% of family offices surveyed said preserving wealth was their main priority in managing their investments.
Source: Private Banker International