research

Next-generation successors face an uphill battle to overcome a “wealth stigma” and restore public trust in family businesses eroded by an underlying “mass-class” conflict.

That is the stark warning from Richard Edelman—second-generation president and chief executive of public relations firm Edelman following its report 2017 Trust Barometer—Special Report: Family Business.

Top-tier salaries in family offices have increased since 2016 with most chief executives now paid more than $300,000 a year, a study by Agreus reveals.

Chief executives and investment related roles also generated the biggest bonuses of between 31% and 50%, with the high-end receiving more than 50%. However, the percentage of salary paid as bonuses was similar to the findings last year by the family office resourcing and recruitment consultancy.

The ultra-high net worth population is set to grow by more than 72,000 people over the next five years, with growth underpinned by urbanisation, female labour participation, and transformative technologies.

Threats to the ultra-wealthy include evidence of populist dissatisfaction with the elite, as well as potentially changing views on immigration, national sovereignty and deindustrialisation.

Salaries for senior executives at family offices are increasing, and almost one-third of chief executives and managing directors now earn more than £300,000 ($386,000) a year, according to a new report.

Produced by London-based family office recruitment specialist Agreus, the Family Office Compensation Benchmark Report 2017 also found that fewer family office staff members are receiving an annual bonus.