September 2007
Athena Capital ranked #1 in average assets under advisement per relationship at $198.3 million in this survey of 80 multifamily offices, which represent 70% of all U.S. multifamily offices and 90% of the industry’s assets under advisement. Only nine other firms reported average relationships in excess of $100 million, and the average reported relationship size for multigenerational family clients was $47.9 million. The survey was undertaken by the Family Wealth Alliance, an independent consulting and research firm dedicated to helping ultra-high net worth families locate best-in-class wealth managers, including multifamily offices, throughout North America. The report also highlighted the accelerating growth in the multifamily office industry over the prior year, in which total assets under advisement surged 20.4% to $305.2 billion, and attributed this growth in large part to wealthy families increasingly recognizing the model as a compelling alternative to either maintaining a private family office or entrusting their financial affairs to a traditional institutional provider such as a bank or trust company.
Report on the Fourth Annual Multifamily Office Study ’07, Family Wealth Alliance (September 2007)
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