Family wealth advisers reaping higher salaries as clients' returns surge
Rebound largely attributed to better equity performance and improved returns due to allocation shifts
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AS the number of ultra-high-net worth people swells, so too does the pay for those who oversee their assets.
C-suite pay at family offices, firms that manage the wealth of the very rich, is surging, according to a report by UBS Group and researcher Campden Wealth. The average base salary for a chief executive officer (CEO) jumped almost 10 per cent to US$367,000 this year from 2016, while chief investment officers (CIOs) got an increase of 8 per cent to US$314,000.
It looks like they're earning their keep as family office investment returns rebounded last year. Returns averaged 7 per cent in 2016, compared with 0.3 per cent the year before, according to the report, issued Tuesday. The gains were strongest among North American firms, which had less money invested in real-estate than their international counterparts.
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