Updated Sunday, April 20, 2014 as of 4:33 AM ET
GenSpring AUM Plunges as Executive Exits Continue
GenSpring Family Offices' assets under management have plunged 31% since the sudden departure of high-profile CEO Maria Elena 'Mel' Lagomasino -- falling to $11.6 billion from $16.9 billion as of late 2011 -- and the firm is now facing the departures of its president and other top execs.
John Devine, the president of GenSpring since 2002, has left the firm, according to a company spokesman, and now identifies himself on his LinkedIn profile as partner and strategic advisor at Brown Advisory.   more »
More in Family Offices
Family office execs report a rise in direct investments and so-called club deals as hedge funds fall out of favor. ''Families want to be in control," says one consultant. more »
Schwan Financial Group's Prepared Heirs program helps advisors connect with second-generation clients. more »
Steven Cohen, who agreed to close down his SAC Capital Advisors as part of a settlement with the U.S. government, will rename the firm and add a layer of management to oversee traders as the hedge fund becomes a family office, said a person familiar with the firm. more »
As the stock market has soared, firms face new competition for both talent and clients. more »
The Family Office Exchange's newly published Guide to the Professional Family Office offers time-tested recommendations to help wealthy families maintain their fortunes. more »
G. Moffett Cochran, co-founder and chief executive officer of Silvercrest Asset Management Group Inc., a New York-based firm catering to wealthy families, which went public in June, has died. He was 63. more »
Demand is high for experienced executives across all channels. While advisor migration to independent RIAs remains the dominant trend, large wirehouse and bank players are also very much in the game for talent. more »
Three big industry names are joining forces to form a new wealth management firm, Lebenthal Wealth Advisors. more »
“We see an opportunity to have a national RIA multifamily office brand with the Forbes name,” Scott Gregorchuk, chief executive of Forbes Family Trust tells Financial Planning. “We are surgically targeting the right advisors and investment advisory firms to join our effort.” more »
While a new report on multifamily offices finds big growth industrywide -- nearly 10% asset growth in 2011, the last year cited -- family office executives said a "primary growth constraint" was the ability to hire dedicated business development professionals. more »
For families with a special-needs child, advisors must employ a variety of tactics. more »
Thinking of working for a family office? First look under the hood – and into the mirror. more »
Contango Capital Advisors is shooting for growth in AUM of up to 10 times within five to seven years, while also increasing profitability. more »
Lists
Advisors on the Move: Cambridge Snags $500 Million Team

Current Issue

The April Issue is now online!


TWITTER
FACEBOOK
LINKEDIN
Already a subscriber? Log in here