Takeaways from the Family Office Exchange's "Family Office & Wealth Advisor Forum" in Chicago

I was in Chicago last week to speak at Family Office Exchange’s “Family Office & Wealth Advisor Forum”. So fun! My session was titled “Invisible Wealth: A Framework for Redefining Wealth”, and I talked about exactly that. Thereafter, Mindy Kalinowski Earley (pictured) and I had a fireside chat (minus the fire), fueled by great questions from attendees.

During the forum, I really enjoyed David Toth’s session titled “Trends Transforming Management of Family Wealth”. Here are 3 interesting takeaways from his session:

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💡Massive wealth growth and transference is underway. Wealth creators still outnumber inheritors: 72.6% self-made, 20.7% self-made/inherited, and 6.7% inherited.

💡Family wealth advisors top skill priorities are qualitatively-oriented. Further, the top 3 leadership skills cited were: trustworthiness, communication, and high emotional intelligence.

💡Family offices continue to increase their allocation to private equity. Here are the numbers for PE exposure for respective years: 10% in 2012, 13% in 2017, and 20% in 2022.

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The world of wealth is a’ changing. Exciting times.