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Over 80 per cent of SFOs now offer family security services, says Rothstein Kass survey

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The number of single-family offices offering clients family security services is on the rise, according to research published by the Rothstein Kass Family Office Group, a division of professional services firm Rothstein Kass. More than 80 per cent of 151 executive directors surveyed in the first half of 2011 indicated that they now provide such support compared with roughly 60 per cent in 2009.

Results are featured in "Safe & Sound – How Single-Family Offices Are Addressing Family Security," a comprehensive study examining trends in the space. More than three-quarters of survey participants indicated that clients have had direct experience in dealing with a family security issue and nearly all agreed that the family’s worth makes them a target. Almost 90 percent of executive directors expect that security threats to their clients will continue to intensify.

"The appeal of a wealth management model that integrates all aspects of family planning under a unified strategy continues to accelerate the proliferation of single-family offices across the globe. As our research shows, single-family offices today represent more wealth – both on average and in aggregate – than they did only a few years ago. At the same time, most wealthy individuals and families confront an ever-expanding array of threats to their security," says Rick Flynn, Principal and Head of the Rothstein Kass Family Office Group. "Sinister elements have become more sophisticated in their attacks, as technological advances in an increasingly global society enable their malfeasance. In recent years, we’ve observed a significant increase in the number of single-family office executive directors that are working in coordination with clients to identify risks and strengthen protections in light of the family’s specific profile."
 

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