New York Family Office Guide

There are more than 3,000 family offices in America, many of which are based in New York.  I have met with many family offices while attending conferences in New York City.  The recession had a big impact on wealth management firms and family offices in New York but there are still a growing number of family offices opening to preserve the wealth of New York City families and individuals.

The following free guide to New York Family Offices will help you better understand New York family offices and provide you with resources to learn more about New York family offices.  You should also check out our 100% free book on family offices.

Introduction to New York

New York City is by far the largest city in the United States.  It also boasts the largest number of family offices and serves as the financial capital of the world.  New York is in constant competition with London as the major finance hub but it is largely considered the current top destination for wealth management firms

More broadly, the United States currently has the largest economy in the world.   In terms of GDP purchasing power parity, as of 2010, the United States ranks number one with $13.86 trillion.  The U.S. has long been known as a business and financial capital.  However, the United States was hit perhaps the hardest by the financial crisis and is still struggling to recover.

New York, as a financial capital, suffered especially from the recession but has since rebounded and although many of the Wall Street giants are much smaller than they once were business is more or less back to normal with laid off traders back at work and many new hedge funds and financial firms launching in 2010 and 2011. New York took its licks in the recession but it is back on top and there is a great amount of wealth being generated in the city.

Why New York

Perhaps the better question is Why not New York?  New York has long served as the financial center of the world with the New York Stock Exchange and Wall Street serving as homes to vast amounts of economic activity.  There is also a great deal of wealth being generated in the city due to the huge number of multinational corporations, investment and law firms that operate in the city.  The city also offers a bevy of entertainment, financial services, events and other factors that attract wealthy families and individuals to the city.

Family Offices in New York

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.  Many of these family offices are based in the New York-area or at least have an office in New York.  Failing to do so may be a big mistake for a family office because it could lose out on opportunities to work with New York families and high-net-worth individuals.

There is still a great demand for family offices in New York and many new family offices continue to open their doors in the biggest city in America.  The following is a collection of New York family office resources:

New York Family Office Resources Guide

New York Family Office Resource #1: This article is from last month and talks about how American family offices, including New York family offices, are facing tougher rules and regulations.

New York Family Office Resource #2:  If you are looking for contact details of family offices in New York 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.

New York Family Office Resource #3:  This article outlines the need among families and individuals to have family offices manage their money in the US.   

New York Family Office Resource #4: Here is a valuable report, titled “US Family Offices: Best Practices in Providing Financial Services to America’s Most Privileged Households.” 

New York Family Office Resource #5: 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.   

New York Family Office Resource #6:  Perhaps a sign of the growing popularity and even trendiness of the family office; the New York Times article covers media star Ophrah Winfrey’s decision to use a family office.   

New York Family Office Resource #7:  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.”

New York Family Office Resource #8: Here is a family office event held in New York City.  

New York Family Office Resource #9: Glenmede claims to be the top New York City family office and holds roughly $12 billion in AUM.  (Note: this is not intended as a recommendation of this NYC Family Office, only that it is a very large New York family office.)

New York Family Office Resource #10:  This article talks about how US family offices are trying to take away talent from American hedge funds.  

New York Family Office Resource #11:  This article is on the same issue and is based on a survey of family offices in the US.  

Are you an employee or manager of a family office in New York?  Then we’d like to keep in touch with you.  Simply send us an email at

Be sure to check out for our family office database and our free book on family offices.

Related Resources

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