A revolutionary new service from Campden Wealth enables family office principals to keep ahead of their rivals by using the world’s largest family office database.
Top researchers at the family business organisation responded to calls from members who wanted to use the original data uncovered in the annual Global Family Office Report to their customised advantage.
The Campden Wealth Global Family Office Benchmarking service was launched this year for participants to compare the performance of their family office against the peer group of their choice, be it by similar size of assets under management or by same geographical location.
Project leader Zuzanna Sojka noted the major focus of the benchmarking was in the areas that families themselves said were key to the success of their family offices, including assets allocation, costs and human resources. However, the service was also able to extend its analysis to include “softer” metrics, such as governance, philanthropy, information technology and cyber security.
“If you are considering cost cutting, wondering whether your staff are receiving fair compensations or simply want to ensure that you are up to date with the latest investment trends, benchmarking analysis will inform you how far your results diverge from the norm (average) set by family offices similar to yours,” Sojka said.
“Such insight could be instrumental in identifying areas for improvement and therefore, become a solid starting point for your future planning.”
Benchmarking drew from a large pool of about 250 family office representatives from all over the world, which allowed researchers to draw insight about family offices in all regions, including the Middle East and North Africa, and Asia Pacific, Sojka continued.
Although the majority of the Global Family Office Report participants came from Single Family Offices, about 25% of the sample was represented by Multi Family Offices, which meant Campden Wealth can run benchmark analysis for that group as well.
“Over the past three years, the Global Family Office Reports have consistently attracted increasingly larger and more diverse pool of respondents, representing family offices all over the world,” Sojka said.
“Once the analysis is completed, we will deliver it to your family office in the form of a summary report, including graphs, comprehensive commentary, as well as our recommendations. If you wish, we’d be happy to present the findings and discuss them with you and your team via an online or face-to-face meeting.”