Jared Ross was quoted in an article, "Ultra-Rich Scout Direct Real Estate Investments," published by Banker & Tradesman. The article discusses the trend of family offices as a growing source of capital for real estate investment in Greater Boston and other metro areas with strong real estate markets. Family offices can take various structures, either hiring in-house attorneys and accountants, using outside financial and other advisers, or a combination of the two. In the article, Ross discussed how family offices can offer savings from hedge funds' and private equities' management and performance fee structure depending on the amount of assets under management. The benefits escalate with the size of the family fortune, Ross told Banker & Tradesman. "It may cost a couple of million [dollars] annually to set up, depending upon the number of employees, to pay for the overhead," Ross said. "If you have $1 billion in liquid assets and you're paying a percentage, it's going to be a lot more than the overhead of a family office."
On July 15, Angela Titus McEwan and Von Sanborn will be speaking at a Family Governance Symposium presented by the New York State Bar Association and held in New York City.
Stephen Ziobrowski, Carl Merino and Seth Mersky co-authored an article, "IRS Clarifies Foreign Partner Withholding Rules," which was published on WealthManagement.com and distributed in Trusts & Estates magazine's weekly e-newsletter, The Estate Planner.
On June 7, Tina Albright will be speaking on a panel, "Family Office & Next Gen Planning," at the Transcontinental Trusts International Forum in Bermuda.
On June 6, Von Sanborn will serve as the moderator at an Opportunity Zones program presented by the National Association of Corporate Directors (NACD) Connecticut Chapter and held at the Shore & Country Club in Norwalk, CT.
Dan Gottfried spoke on a panel, "The Qualified Business Income Deduction for Real Estate Investors and Professionals," at the 31st Annual Real Property, Trust and Estate (RPTE) National CLE Conference, presented by the American Bar Association and held in Boston, MA.
Day Pitney's Family Office practice has been selected as a finalist in the Family Offices—Client Initiative category of the 2019 Wealth Management.com Industry Awards for the Day Pitney Family Office Investing SeriesTM.
Day Pitney Press Release
Tina Albright and Rebecca Tunney were quoted in an article, "USA Update: Engaging Women in Wealth Management," published by Citywealth.
Daniel Gottfried, chair of Day Pitney's International Transactions practice was quoted in an article, "Who Can You Trust in the Cryptocurrency Economy?," published by the Robb Report.
Day Pitney Alert