A quarter of 355 U.S. family offices surveyed had a leadership transition in the last decade.
A quarter of the 355 U.S. family offices in BofA's survey have had a leadership transition in the last decade.
Only 37% of incoming principals said they were very prepared when the transition occurred.
The survey covers U.S. family offices, not the broader high-net-worth population, so the 37% is not a general wealth-transfer statistic.
Reported by The Advisor's Note desk from BofA study. Published . Corrections
The composite improved on the sleeve allocators don't buy, and the week's deals show the industry paying for origination instead of capital.
Two hires from Schroders Capital and Antin Infrastructure Partners are the entire launch, and the incumbents holding infrastructure credit mandates will not hand them over cheaply.
The bank's in-house advisory desk ran a dual secondaries and primary raise, and if rivals copy it, the secondaries market moves upstream of the fundraise itself.
The core grid stays flat, and the $150 million Elite Award becomes three categories paying a 50% premium.
Terms were not disclosed, and the Austin and Tyler offices become new Beacon Pointe locations.
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