Alvarium Tiedemann A : AlTi Tiedemann Global and Campden Launch Inaugural Family Office Operational Excellence Report Press Release May 7, 2024

Succession planning, talent attraction and retention and tech innovation were some of the top challenges for family offices.

NEW YORK, NY, May 7, 2024 - AlTi Global, Inc. ("AlTi" or "AlTi Tiedemann Global") (NASDAQ: ALTI), a leading independent global wealth manager with over $70 billion in combined assets, announces the launch of its inaugural Family Office Operational Excellence Report, developed in partnership with Campden Wealth. The 2024 Family Office Operational Excellence Report explores the inner workings of single family offices amid increasingly complex business challenges and the factors impacting their operations.

Key findings include:

• Family office costs range from $1mm for the smallest family offices to $3.6-mm for the mid-tier offices and on average $11-mm for the large family offices.
  
  
• The vast majority (80%) of family members value their dedicated staff, but most of them (70%) report real difficulty recruiting new talent and (65%) have real concerns about staff retention.
  
  
• The majority of C-level executives and family members are satisfied with how the family office operates but those levels of satisfaction decline noticeably as size shrinks.
  
  
• While the majority of families want their family office to persist for many generations to come, only a little more than half of them (57%) have succession plans in place and many of those are incomplete, not documented or only informally discussed and agreed on.
  
  
• All family offices polled have made major investments in their tech stack, but only a quarter (26%) claim to have leading-edge solutions for investing and operations.

Conducted between April and September 2023, the survey garnered responses from 98 family offices, primarily based in North America, managing an average of US $1.4 billion in assets. Respondents were segmented into three tiers based on assets under management (AUM): small (sub $250mm), medium ($250 to $1bn), and large (over $1bn). Key focus areas include operational costs, staffing, outsourcing, technology, operational risk management, succession planning, governance documentation, and satisfaction.

Erik Christoffersen, Head of Family Office Practice, AlTi Tiedemann Global commented:
"We are delighted to share the findings of our inaugural Family Office Operational Excellence Report. With the significant expansion of services family offices are being asked to deliver, the need for professionalization and accountability in achieving optimal outcomes has never been more pressing. However, the unique and private nature of family offices makes it challenging for family offices to generate reliable benchmarking data and insights into how other offices operate. We hope this report provides this key data in a relevant and actionable way."

Adam Ratner, Director of Research at Campden Wealthcommented:
"The findings of the 2024 Family Office Operational Excellence Report underscore the imperative for family offices to adapt and professionalize in response to evolving dynamics. By prioritizing operational excellence and embracing transparent governance structures, family offices can navigate complexities and achieve sustainable success."

To access the full 2024 Family Office Operational Excellence Report by Campden Wealth and AlTi Tiedemann Global, please clickhere.

About AlTi Tiedemann Global
AlTi is a leading independent global wealth and alternatives manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary capabilities as well as alternative investment strategies and advisory services. AlTi's comprehensive offering is underscored by a commitment to impact or values-aligned investing. The firm currently manages or advises on over $70 billion in combined assets and has an expansive network with approximately 480 professionals across three continents. For more information, please visit us at www.alti-global.com.

About Campden Wealth
Campden Wealth is a family-owned, global membership organization providing education, connectivity, research and networking opportunities to families of significant wealth, supporting their critical decisions, helping to achieve enduring success for their enterprises and family offices, and preserving their family legacy. Campden Research supplies market insight on key sector issues for its client community and their advisers and suppliers. Through in-depth studies and comprehensive methodologies, Campden Research provides unique proprietary data and analysis based on primary sources. Campden Wealth owns the Campden Club, a private, qualified and invitation-only members club representing multi-generational business owning families, family offices and private investors across 39 countries, and the Institute for Private Investors (IPI), the pre-eminent membership network for private investors in North America. Campden further enhanced its international reach with the establishment of Campden Family Connect PVT. Ltd., a joint venture with the Patni family in Mumbai in 2015.For more information: www.campdenwealth.com Enquiries: [e-mail]

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