New taxes and regulations concern family
offices more than market volatility, research suggests.
According to a survey by J.P. Morgan Private
Bank, 23% of family offices around the world said the evolving tax
and regulatory environment currently is their main source of
worry.
Go deeper with GlobalData
Just 10% of the 120 single family offices
surveyed chose increasing market volatility as the most worrying
challenge in today’s asset management industry.
Move away from wealth
generation
The survey reported the growing difficulties
wealth managers are facing in complying with the flood of new
regulations brought on by the financial crisis.
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By GlobalDataFamily 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.
