The WSR Wealth Exemplar Awards Family Office of the Year goes to the top three financial advisory firms with a majority or significant focus on ultra-high net worth client families. They must engage in – themselves or through affiliates – sophisticated, tailored services typically offered to this clientele such as concierge services, tax and estate planning and art investment advice. Firms must oversee a minimum of $500 million in client assets.
New York-based Fiduciary Trust International is a global wealth management firm that specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The firm – a subsidiary of Franklin Templeton – had approximately $86 billion in assets under management and administration as of June 30 and approximately 2,600 client relationships. It has been in operation for 91 years.
In August 2021, Fiduciary Trust appointed Paul Cummings to the newly created role of Head of Family Office Services, Foundations and Endowments. Cummings works with experienced professionals across the organization to manage and continue strengthening the services specifically designed for this clientele. The firm also has continued developing specialists across all disciplines and markets, including a philanthropic director dedicated to family offices, foundations and endowments.
Santa Monica, California-based Angeles Wealth Management serves ultra-high net worth families and their philanthropic entities. Angeles Wealth Management and its affiliate Angeles Investment Advisors collectively have over $2.5 billion in private wealth and over $40 billion in institutional advised assets, with approximately 100 client relationships. Founded by President and CEO Jonathan Foster with no clients, the firm has been in operation for 11 years.
Angeles provides institutional-caliber portfolios and comprehensive wealth management services to its clients, while providing philanthropy services that help families build legacies across generations. Services provided to AIA’s billion-dollar clients are available to the firm’s private families on the same terms in an endowment-style offering encompassing global, public and private equity, public and private fixed income/credit and alternatives. Angeles expanded into its New York office in 2019 and then into its Chicago and Houston offices in 2022.
San Antonio-based Intercontinental Wealth Advisors is an independent, boutique, global wealth management firm with a fiduciary commitment serving clients with multinational ties and interests. As of October 20, Intercontinental had approximately 682 client relationships and $1.6 billion in client assets, with AUM increasing by more than 10% in 2020 and by more than 16% in 2021. It has been in operation for 41 years.
The firm provides concierge services to ultra-high net worth clientele, including art advisory and family governance. Intercontinental takes a multigenerational approach to managing clients’ wealth, as well as within the firm, which has three father-son teams on staff, and coaches clients through family wealth conversations. In October, Intercontinental Co-founder and Chairman of the Board Isidoro Korngold also won a WSR Pathfinder Award for Hispanic Entrepreneur Of The Year.
Chris Latham, Deputy Managing Editor at Wealth Solutions Report, can be reached at email@example.com