Banking on the Family Name

In a surprising case of old money meets new wealth, Forbes recently announced their intention to launch a national multi-family office for the first time.  While this move befits the family name long associated with free market capitalism, the decision by Forbes Family Trust to open the gates to new money comes as a bit of a surprise to industry insiders.  But it’s not entirely surprising in view of the changing dynamics of the whole wealth management industry. As industry pundits have noted, many have tried to build a national wealth management franchise, but few have succeeded.