Connecticut Family Office Guide
When it comes to wealth, Connecticut is one of the most popular destination for the rich, especially financial professionals such as hedge fund managers. This makes Connecticut a natural fit for the family office industry. The following free guide to Connecticut Family Offices will help you better understand Connecticut family offices and provide you with resources to learn more about Connecticut family offices. You should also check out our 100% free book on family offices.
Introduction to Connecticut
Connecticut has long been home to many major American and multi-national corporations including Xerox and General Electric. The state also carved out a niche in the insurance industry, sometimes leading Connecticut to be known as the Insurance State. More recently, however, Connecticut has become a home to financial professionals and the wealthy that commute to nearby New York City or work for local companies and financial firms.
Due to the rather impressive concentration of wealth in Connecticut, many wealth management firms and family offices have set up in the state or nearby to service the large pool of clients. The state is also very friendly to the financial sector making it a natural fit for wealth managers, many of which are already familiar with the regulatory and tax environment. In recent years, Connecticut’s government has made a concerted effort to poach financial firms and wealth managers from New York City using various incentives.
Family Offices in Connecticut
The United States has an estimated 500 to 1000 single-family offices and around 2500 to 3000 multi-family offices that manage $300 billion and $750 billion. Connecticut is home to a number of these family offices and those firms that do not have a branch in Connecticut are sure to target the pool of potential clients living in the state. A testament to the popularity of Connecticut is that family office events and industry conferences are frequently hosted in Greenwich, Connecticut because of the number of family offices and family office clients living in the city.
There is still a great demand for family offices in Connecticut and there are constantly new family offices setting up in this financial hub. The following is a collection of Connecticut family office resources:
Connecticut Family Office Resources Guide
Connecticut Family Office Resource #1: Here is a very recent article detailing CT Governor Malloy’s message of not seeking more regulation for the financial industry.
Connecticut Family Office Resource #2: This report covers “PwC Family Business Survey 2010/11 2011 US family business survey report: Private company services: PwC Download Choosing your next big bet: A US perspective.”
Connecticut Family Office Resource #3: If you are looking for contact details of family offices in Connecticut you may want to consider using a Family Offices Database. A Family Office Database provides you with the complete contact details for 100’s or sometimes even up to 1,000 global single and multi-family offices within an easy to use Excel spreadsheet format. Learn more about this by clicking here.
Connecticut Family Office Resource #4: This article outlines the need among families and individuals to have family offices manage their money in the US.
Connecticut Family Office Resource #5: Here is a valuable report, titled “US Family Offices: Best Practices in Providing Financial Services to America’s Most Privileged Households.”
Connecticut Family Office Resource #6: Here is a formal classification of the family office in America by the Securities and Exchange Commission. This document makes clear the family office’s exemption from regulation under the Investment Advisers Act.
Connecticut Family Office Resource #7: Here is a job listing site with family offices jobs in Connecticut.
Connecticut Family Office Resource #8: This article is from last month and talks about how American family offices are facing tougher rules and regulations.
Connecticut Family Office Resource #9: This article talks about how US family offices are trying to take away talent from American hedge funds.
Connecticut Family Office Resource #10: This article is on the same issue and is based on a survey of family offices in the US.
Be sure to check out FamilyOffices.com for our family office database and our free book on family offices.
Are you an employee or manager of a family office in Connecticut? Then we’d like to keep in touch with you. Simply send us an email at Richard@RichardWilsonCapital.
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