Family Wealth Advisors Get Richer Right Along With Their Clients

As the ranks of extremely affluent continue to swell, those tasked with overseeing their assets are enjoying a similar rise in fortune. According to research performed by UBS Group AG, salaries at firms managing the wealth of the ultra-rich have skyrocketed over the past year. CEOs at family firms saw an average 10% increase in base salary while CIOs received around 8%. Accounting for bonuses, the CEO of the typical family office in North America can now expect to earn over $600,000 per year in compensation.

As these family offices expand and grow in complexity, they begin to resemble hedge funds or small investment banks. With so much at stake, many of these firms have looked to Wall Street to find new talent. Stewart Kesmodel, head of the UBS family office in America, commented that the “family offices which are looking beyond preservation of capital have become more aggressive in their thesis, as well as, the talent they hire for execution.”

See Simone Foxman, Family Wealth Advisors Get Richer Right Along With Their Clients, Financial Advisor, September 12, 2017.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.