The economic crisis is hitting the family offices of America's wealthy.
Expect closings of both single family offices (SFOs) and multi-family offices (MFOs). Those that were just hanging on before the economic crisis won't survive.
Even the well-funded, well-run SFOs are tightening their belts. Indeed, a lot are wondering the best way to pay the office bills this year when investment losses are high and liquidity is down.
But while the weakest will fail, the strongest