Latest news with #BotoffConsulting
National Post
17-07-2025
- Business
- National Post
Long-Term Incentive Plans on the Rise: Morgan Stanley 2025 Single Family Office Compensation Report
Article content NEW YORK — Morgan Stanley's Single Family Office Advisory today released its biennial compensation report. The 2025 report, created in collaboration with Botoff Consulting, offers critical benchmarks and trend analysis to empower family office leaders to make informed staffing and compensation decisions. Article content Findings spotlight how investment-focused single family offices diverge from broader single family office trends, particularly in terms of compensation. Investment-focused single family offices are prioritizing the alignment of compensation practices with organizational strategy and AUM, especially through executive compensation and structured long-term incentive (LTI) plans. LTIs are increasingly being used to help drive performance and safeguard family objectives—all as family members become more involved. Article content 'Investment-focused single family offices are particularly complex, and their compensation structures are no less so. With candidates more sophisticated and selective than ever before, understanding the nuances of incentive structures is crucial to attract and retain top talent,' said Valerie Wong Fountain, Managing Director, Head of Family Office Resources Platform and Partner Management at Morgan Stanley. 'LTIs and structured compensation offer a clear pathway for family offices to directly tie their key values, goals, and best practices with leadership and the needs for their professionals, ultimately driving performance and enhancing their competitive edge.' Article content Key findings from the report show that: Article content LTIs are becoming table stakes: Investment-focused single family offices are more reliant on LTI plans (62% vs. 54% of all single family offices), and 76% of firms with LTI plans provide some type of bonus or reward to encourage participation. Families are taking the reins in leadership: Family members are roughly twice as likely to hold CEO and CIO positions in investment-focused single family offices (53% of CEOs and 13% of CIOs, vs. 27% and 6% in all single family offices, respectively). Direct investment management is on the rise: As families become more hands-on, a larger share of investment-focused single family offices (56%) manage their investments directly within the company rather than outsourcing their portfolio management to larger investment houses, compared to 44% of all single family offices that do the same. Gender representation still has a way to go: Women hold 24% of top positions in investment-focused single family offices, below the 29% in leadership roles across all single family offices surveyed. Article content The complete study, which is based on insights from over 100 investment-focused single family offices, can be found here: Single Family Office Compensation: A Guide | Morgan Stanley. Investment-focused single family offices are private wealth management structures that manage the financial affairs of a single, wealthy family, with a primary emphasis on investment management. These offices handle everything from investment strategy and manager selection to asset allocation and portfolio construction. They act as a central hub for all investment-related activities, offering a customized approach tailored to the family's specific needs and long-term goals. Article content Morgan Stanley's Family Office Resources is committed to providing valuable resources and insights to the family office community, supporting their continued growth and success in managing complex financial ecosystems. Article content About Morgan Stanley's Single Family Office Advisory Article content Morgan Stanley's Single Family Office Advisory, part of the Family Office Resources Platform and Partner Management, provides content and a niche referral network to single family offices, as well as families that are considering establishing one. Morgan Stanley Private Wealth Management is the division within Morgan Stanley Wealth Management that is exclusively focused on the ultra-high net worth client segment. By providing advice founded on a culture of excellence and driven by global insight, Morgan Stanley Private Wealth Management is devoted to helping clients preserve and grow their financial, family and social capital. Article content About Morgan Stanley Wealth Management Article content Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services. Article content About Morgan Stanley Article content Article content Article content Article content
Globe and Mail
17-07-2025
- Business
- Globe and Mail
Long-Term Incentive Plans on the Rise: Morgan Stanley 2025 Single Family Office Compensation Report
Morgan Stanley's Single Family Office Advisory today released its biennial compensation report. The 2025 report, created in collaboration with Botoff Consulting, offers critical benchmarks and trend analysis to empower family office leaders to make informed staffing and compensation decisions. Findings spotlight how investment-focused single family offices diverge from broader single family office trends, particularly in terms of compensation. Investment-focused single family offices are prioritizing the alignment of compensation practices with organizational strategy and AUM, especially through executive compensation and structured long-term incentive (LTI) plans. LTIs are increasingly being used to help drive performance and safeguard family objectives—all as family members become more involved. 'Investment-focused single family offices are particularly complex, and their compensation structures are no less so. With candidates more sophisticated and selective than ever before, understanding the nuances of incentive structures is crucial to attract and retain top talent,' said Valerie Wong Fountain, Managing Director, Head of Family Office Resources Platform and Partner Management at Morgan Stanley. 'LTIs and structured compensation offer a clear pathway for family offices to directly tie their key values, goals, and best practices with leadership and the needs for their professionals, ultimately driving performance and enhancing their competitive edge.' Key findings from the report show that: LTIs are becoming table stakes: Investment-focused single family offices are more reliant on LTI plans (62% vs. 54% of all single family offices), and 76% of firms with LTI plans provide some type of bonus or reward to encourage participation. Families are taking the reins in leadership: Family members are roughly twice as likely to hold CEO and CIO positions in investment-focused single family offices (53% of CEOs and 13% of CIOs, vs. 27% and 6% in all single family offices, respectively). Direct investment management is on the rise: As families become more hands-on, a larger share of investment-focused single family offices (56%) manage their investments directly within the company rather than outsourcing their portfolio management to larger investment houses, compared to 44% of all single family offices that do the same. Gender representation still has a way to go: Women hold 24% of top positions in investment-focused single family offices, below the 29% in leadership roles across all single family offices surveyed. The complete study, which is based on insights from over 100 investment-focused single family offices, can be found here: Single Family Office Compensation: A Guide | Morgan Stanley. Investment-focused single family offices are private wealth management structures that manage the financial affairs of a single, wealthy family, with a primary emphasis on investment management. These offices handle everything from investment strategy and manager selection to asset allocation and portfolio construction. They act as a central hub for all investment-related activities, offering a customized approach tailored to the family's specific needs and long-term goals. Morgan Stanley's Family Office Resources is committed to providing valuable resources and insights to the family office community, supporting their continued growth and success in managing complex financial ecosystems. About Morgan Stanley's Single Family Office Advisory Morgan Stanley's Single Family Office Advisory, part of the Family Office Resources Platform and Partner Management, provides content and a niche referral network to single family offices, as well as families that are considering establishing one. Morgan Stanley Private Wealth Management is the division within Morgan Stanley Wealth Management that is exclusively focused on the ultra-high net worth client segment. By providing advice founded on a culture of excellence and driven by global insight, Morgan Stanley Private Wealth Management is devoted to helping clients preserve and grow their financial, family and social capital. About Morgan Stanley Wealth Management Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services. About Morgan Stanley Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit
Malaysian Reserve
23-06-2025
- Business
- Malaysian Reserve
Linda Mack and Brian Adams of Mack International joined a panel on Family Office Compensation and Talent: 2025 Trends and Planning hosted by Katten's New York office on May 6, 2025
Linda Mack and Brian Adams of Mack International joined a panel on Family Office Compensation and Talent: 2025 Trends and Planning exploring compensation strategies and talent management approaches hosted by Katten's New York office on May 6, 2025 WEST PALM BEACH, Fla., June 23, 2025 /PRNewswire/ — Linda Mack, Founder and President of Mack International and Brian Adams, Partner, Mack International participated in Katten's Family Office practice for a panel exploring 2025 Trends and Planning on Compensation and Talent on May 6 in New York. They were joined by Mitchel Pahl, Partner, Katten; Saul Rudo, Partner and Co-Chair for Family Offices, Katten; and Trish Botoff, Managing Principal, Botoff Consulting. The panelists explored current compensation strategies, long-term incentive (LTI) structures, and evolving talent management approaches utilized by family offices to attract and retain good talent. The event was held in Katten's New York City offices with a live audience. A virtual option was made available and recorded. Key topics were as follows: The Increasing Prevalence of LTI Plans A handout was distributed by Trish Botoff to those in attendance featuring data points from the 2024 survey done by Botoff Consulting. The comprehensive data represented 450 firms. Highlights included the prevalence of LTI plans being used. Over the past 10 years there has been a significant increase, from 40% to 54%, in the number of Family Offices using LTIs. Those with an AUM of $2.5B or more, 72%. Family Investment firms' use of LTIs rose to 62% with 86% of firms with AUM over $2.5B reporting use of LTI plans. Deferred incentive compensation, co-investment, and carried interest were the top three LTIs used in the market. Trish noted that for the first time since they began collecting data on use of LTI plans in 2015, co-investment opportunity (57%) surpassed deferred incentive compensation (56%) as most prevalent LTI plan type. Recruitment and Retention Strategies in Response to Current Market Dynamics According to Linda Mack the current market dynamics that have been anticipated for years are on the rise as baby boomers begin transitioning leadership to the next generation. 'Effective succession strategies are critical for both retiring executives as well as new leaders…'. Brian Adams believes the situation is 'acute'. 'There has been real role and responsibility 'creep'. The leader who performed several key roles has left a gap. There is frequently a need to backfill one person with two or three people. The scope and expectations of the executive has increased dramatically, and the family office must consider whether to insource or outsource various services'. The Evolving Responsibilities and Positioning of Family Office Executives Linda commented about key trends and challenges her firm has observed in attracting and retaining key executives. 'Boomer 'transitions' are fueling heightened demand for succession and leadership strategies in the C-Suite and throughout the Family Office. The challenge is finding the individual who not only has the requisite skills for the position but is also the right culture fit. Family Offices are typically seeking a 10-15 year tenure, and the relationship with the family is a very personal one. Aligning with the culture is paramount for success.' Linda explained the key role is an 'Expert Generalist'—the leader who is knowledgeable across the full spectrum of wealth management disciplines and has a profound understanding of the interrelationships between all of them, regardless of whether the service is delivered in-house or via an outsourced provider. 'Since no decisions are made in isolation, it's important that the leader has the peripheral vision to see across the entire spectrum and deep down into each vertical to ensure everything is in sync and coordinated to meet family objectives'. Brian added that hyper specialization makes finding an Expert Generalist a real challenge. 'Rotational programs which led to a broader general knowledge have gone away. As a result there is little exposure to cross training. Once you identify a qualified Expert Generalist, an additional challenge is finding the right Culture fit. That is the 'stickiness' component that helps the new leader in aligning with the tribe and in plugging into the community and the family's values and interests. If relocation is necessary, it can pose its own issues depending on the candidate's family situation'. Trends in Recruiting In light of intense competition for talent, the panel agreed that Family Offices are becoming more professional and strategic in their approach to searching for key executives. It requires a strategic and comprehensive process. Linda and Brian credit their intentional approach, deep network and proprietary 360 assessment process as critical components to a successful search. 'It allows us to acquire a deep understanding of how the family has evolved to where they are today, and their vision, goals and objectives for the future. We are then able to help them gain clarity, consensus and alignment around the definition of the position and ideal candidate that will enable them to be successful. The 'magic' in a search is three-fold: First, there must be clarity, consensus and alignment about the 'bulls' eye' and specifically what the family is looking for. Second, it is critical to have access to the universe of potential candidates, and third, the ability to effectively assess both position and culture fit'. Building a Family Office—Where to Start? 'The approach to building a family office would be analogous to building a house,' said Linda. 'You would never build it room by room without an overall plan or blueprint.' Linda emphasized three key decision that need to be made up front: Determining for whom you are you building the office Defining the scope of clients to be served by the office Deciding what scope of services will be offered to the Family Office's clients and which will be provided directly by the office versus those to be outsourced Brian added that approximately 25% of Mack International's searches are for Principals/Families establishing a Family Office for the first time. Typically the first hire is an Expert Generalist—the classic leader of a family office. The audience asked about 'virtual family offices.' Brian commented. 'There is a lot of interest and curiosity about Family Offices with first generation entrepreneurs particularly the idea of a 'virtual' Family Office. 'There is a notion that virtual platforms an provide the same scope of services of more traditional Family Office, however this means that the Expert Generalist must bring a much higher level of expertise to manage and run processes and be totally accountable. That candidate is difficult to find.' Family Offices Building Investment Teams There is a talent migration from institutional firms to the Family Offices and their private investment firms. Brian described the Family Office as being 'an asset class of its own'. 'Family offices are recognized as increasingly attractive to institutional talent. Reasons include the fact that they have long term patient capital and in many cases are much more flexible than traditional private equity, venture capital, or asset manager firms'. The audience, both live and virtual, was interactive, offering great questions and comments. All appreciated the insights gained from comprehensive industry survey data presented and actionable perspectives provided tailored to family offices of varying sizes and investment focuses. For the full recording click here to view and listen. About Mack International LLC Mack International is the premier boutique firm that specializes in providing retained C-suite executive search and strategic human capital consulting solutions to family office, investment firm and enterprise clients on a national and international basis. Clients range from first generation business enterprise owning wealth creators to multi-generational families of six or more generations. Headquartered in West Palm Beach, Florida, clients also include multi-client family offices and select investment and wealth management firms that serve family offices and ultra-high net worth clients. In addition to its executive search services, Mack International provides customized strategic human capital/talent management consulting solutions. The scope of consulting services includes succession planning, governance, next generation engagement, compensation practices, and performance metrics. Founder and President, Linda C. Mack has established proprietary methodologies such as the Mack 360© and is credited for having coined the term 'expert generalist' in the industry.
Yahoo
15-05-2025
- Business
- Yahoo
Botoff Consulting Wins 2025 Family Wealth Report Award for Outstanding Thought Leadership
RENO, Nev., May 15, 2025--(BUSINESS WIRE)--Botoff Consulting, the leading provider of compensation and strategic advisory services for family offices and family investment firms, is proud to announce that it has been named the winner in the "Outstanding Contribution to Wealth Management Thought Leadership" category at the 12th Annual Family Wealth Report Awards. Presented by ClearView Financial Media, the Family Wealth Report Awards recognize the most innovative and exceptional firms, teams, and individuals serving the family office, family wealth, and trusted advisor communities across North America. "Our journey in the family office industry began in 2014 with a simple idea: better data leads to better decisions. We are thrilled to have received this recognition as industry thought leaders," said Trish Botoff, Founder and Managing Principal of Botoff Consulting. "As compensation consultants to unique family and private organizations, our team is relentlessly focused on the strategic alignment of family leaders, executives, and teams. This award is a meaningful, independent validation of Botoff Consulting's commitment to delivering accurate, data-driven insights and advancing best practices across the family office sector – and that commitment has only grown stronger over the past decade." Since 2014, Botoff Consulting has earned a reputation as the industry's most trusted provider of family office compensation data. The firm maintains the most robust database of its kind, enabling its consultants and family offices to make strategic, informed decisions around compensation, governance, and talent planning. As part of its commitment to the industry, Botoff conducts and publishes a suite of independent, research-based compensation reports covering executive pay, governance practices, talent planning, and estate and household staff compensation. "We continue to refine the depth and breadth of our family office industry surveys and data resources. Ultimately, our understanding of the distinct needs of ultra-high-net-worth families and the complexity of running a family office allows us to support bespoke family and team goals," added Trish Botoff. "We are proud that Botoff Consulting's research empowers leaders to make informed, strategic compensation decisions that align their goals, values, and legacy." Now Accepting Participants: 2025 Compensation & Benefits Surveys Botoff's 2025 flagship Family Office Compensation Survey and inaugural Benefits Survey are currently available for participation (June 2025 close). Family offices interested in participating may contact: surveys@ Participating family offices receive: A complimentary copy of the final report Access to a private webinar on survey key findings Reports are available for purchase by non-participants at ABOUT BOTOFF CONSULTING Founded in 2014, Botoff Consulting specializes in providing compensation and related consulting services to family offices, family investment firms, and private operating companies across industries and geographies. We are the leading provider of data-driven solutions, building and maintaining the most expansive database of family office, family investment firm, and estate and household compensation information. Our expert team conducts industry-leading and industry-first research, offering the most accurate and relevant compensation insights for ultra-high-net-worth families and family offices. View source version on Contacts MEDIA CONTACT Ron Botoff, Principal Consultant404-247-5686ron@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-05-2025
- Business
- Business Wire
Botoff Consulting Wins 2025 Family Wealth Report Award for Outstanding Thought Leadership
RENO, Nev.--(BUSINESS WIRE)--Botoff Consulting, the leading provider of compensation and strategic advisory services for family offices and family investment firms, is proud to announce that it has been named the winner in the 'Outstanding Contribution to Wealth Management Thought Leadership' category at the 12th Annual Family Wealth Report Awards. Our journey in the family office industry began in 2014 with a simple idea: better data leads to better decisions. We are thrilled to have received this recognition as industry thought leaders. Presented by ClearView Financial Media, the Family Wealth Report Awards recognize the most innovative and exceptional firms, teams, and individuals serving the family office, family wealth, and trusted advisor communities across North America. 'Our journey in the family office industry began in 2014 with a simple idea: better data leads to better decisions. We are thrilled to have received this recognition as industry thought leaders,' said Trish Botoff, Founder and Managing Principal of Botoff Consulting. 'As compensation consultants to unique family and private organizations, our team is relentlessly focused on the strategic alignment of family leaders, executives, and teams. This award is a meaningful, independent validation of Botoff Consulting's commitment to delivering accurate, data-driven insights and advancing best practices across the family office sector – and that commitment has only grown stronger over the past decade.' Since 2014, Botoff Consulting has earned a reputation as the industry's most trusted provider of family office compensation data. The firm maintains the most robust database of its kind, enabling its consultants and family offices to make strategic, informed decisions around compensation, governance, and talent planning. As part of its commitment to the industry, Botoff conducts and publishes a suite of independent, research-based compensation reports covering executive pay, governance practices, talent planning, and estate and household staff compensation. 'We continue to refine the depth and breadth of our family office industry surveys and data resources. Ultimately, our understanding of the distinct needs of ultra-high-net-worth families and the complexity of running a family office allows us to support bespoke family and team goals,' added Trish Botoff. 'We are proud that Botoff Consulting's research empowers leaders to make informed, strategic compensation decisions that align their goals, values, and legacy.' Now Accepting Participants: 2025 Compensation & Benefits Surveys Botoff's 2025 flagship Family Office Compensation Survey and inaugural Benefits Survey are currently available for participation (June 2025 close). Family offices interested in participating may contact: surveys@ Participating family offices receive: A complimentary copy of the final report Access to a private webinar on survey key findings Reports are available for purchase by non-participants at ABOUT BOTOFF CONSULTING Founded in 2014, Botoff Consulting specializes in providing compensation and related consulting services to family offices, family investment firms, and private operating companies across industries and geographies. We are the leading provider of data-driven solutions, building and maintaining the most expansive database of family office, family investment firm, and estate and household compensation information. Our expert team conducts industry-leading and industry-first research, offering the most accurate and relevant compensation insights for ultra-high-net-worth families and family offices.
