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 and 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.
Boise, Idaho-based Caprock is a multi-family office that acts as a full-service outsourced chief investment and chief financial officer for 308 wealthy families with a total of over $8.5 billion in assets under advisement, including approximately 100 family office clients representing $7.3 billion in assets, as of Sept. 30. Caprock had $3.7 billion invested in private markets and $2.1 billion deployed with impact intentionality as of the same date. The firm was founded in 2005.
Many of Caprock’s clients are foundations and families who seek to generate competitive financial returns alongside quantifiable social and environmental benefits. The firm has a proprietary impact performance assessment and reporting tool that drives values-aligned investing and provides an accounting of the impact those assets create. The privately held, multi-family office also has locations in Seattle; San Jose and Newport Beach, California; Park City, Utah; Austin, Texas; and New York.
Corient Private Wealth
Miami-based Corient Private Wealth is a fiduciary, fee-only integrated U.S. wealth management firm providing comprehensive solutions to its high net worth and ultra-high net worth clients. It is a subsidiary of Toronto-based CI Financial, a global asset and wealth management company with $438 billion in assets as of Nov. 30. Corient entered the U.S. RIA space in 2020, when it was branded as CI Financial, and expanded rapidly through acquisitions and organic growth, reaching $147 billion in assets under management as of August 2023.
Corient provides several family office solutions. These include holistic tax planning and management; trust and trustee services; wealth transfer to manage family dynamics; values-aligned investing; personal CFO support for financial management, accounting, reporting and bill pay; as well as concierge services. For entrepreneurs, founders and business owners, Corient also provides planning for capital raises, sales, new transactions, exit strategies, capital gains and estate planning.
Crescent Grove Advisors
Lake Forest, Illinois-based Crescent Grove Advisors specializes in cultivating long-lasting relationships with first-generation wealth builders. Its concierge-style family office experience takes an integrated approach to financial planning, trust and estate planning, investment management and consulting, investment strategy and implementation, generational and legacy planning, business succession planning, family education, full-service tax preparation and planning, charitable giving and insurance consulting.
As of Sept. 30, Crescent Grove had over $4 billion in assets across 350 client relationships. The employee-owned firm, which was founded in 2015, also has offices in Milwaukee and Atlanta. In August, Crescent Grove launched Barrett Upton Capital Partners to provide clients with access to private markets through turnkey offerings with low minimums. Barrett Upton is an RIA that targets investments in alternative asset classes, managed by high-quality sponsors with whom its team has developed strategic relationships over multiple decades.
Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at email@example.com