Qualified purchaser targeting techniques represent specialized marketing strategies designed to reach high-net-worth individuals and institutions eligible to invest in private funds, hedge funds, and other alternative investments. These sophisticated approaches focus on identifying and engaging investors who meet the $5 million threshold for qualified purchaser status under the Investment Company Act of 1940.
Key Summary: Qualified purchaser targeting combines regulatory compliance with precision marketing to reach ultra-high-net-worth investors eligible for exclusive alternative investment opportunities through data-driven identification, relationship-building, and educational content strategies.
Key Takeaways:
- Qualified purchasers must have $5+ million in investable assets, creating an exclusive target market for alternative investments
- Marketing to qualified purchasers requires strict SEC compliance under Rule 506(c) and Investment Advisers Act regulations
- Digital targeting strategies leverage wealth data, behavioral signals, and sophisticated audience segmentation
- Relationship-based approaches through family offices and RIAs remain the most effective channels
- Content marketing must focus on education and thought leadership rather than direct solicitation
- Multi-channel campaigns combine digital precision with high-touch relationship building for optimal results
What Defines a Qualified Purchaser?
A qualified purchaser is an individual or entity that meets specific wealth thresholds established by Section 2(a)(51) of the Investment Company Act of 1940. This designation allows access to Section 3(c)(7) private funds that can accept unlimited qualified purchaser investors, unlike Section 3(c)(1) funds limited to 100 accredited investors.
Qualified Purchaser: An individual with at least $5 million in investable assets or an entity with $25+ million in investable assets, as defined by the Investment Company Act of 1940. This status provides access to exclusive private fund investments with higher minimum investments and potentially superior risk-adjusted returns. SEC Qualified Purchaser Definition
The qualified purchaser universe includes several distinct categories of investors. Individual qualified purchasers typically include ultra-high-net-worth individuals with substantial liquid wealth, while institutional qualified purchasers encompass pension funds, endowments, insurance companies, and registered investment companies. Family offices managing assets for wealthy families often qualify, as do certain trusts and other investment vehicles.
Understanding these distinctions becomes critical for alternative investment marketers because qualified purchasers represent approximately 1.3% of U.S. households but control over 32% of total household wealth as of 2023, according to Federal Reserve Survey of Consumer Finances data.
Why Target Qualified Purchasers Specifically?
Qualified purchaser targeting offers alternative investment managers access to a concentrated pool of ultra-wealthy investors capable of making substantial commitments with fewer regulatory restrictions. This approach enables fund managers to raise capital more efficiently while accessing investors who understand sophisticated investment strategies.
The regulatory advantages of focusing on qualified purchasers include exemption from the 100-investor limit that constrains Section 3(c)(1) funds. Section 3(c)(7) funds can accept unlimited qualified purchaser investors, allowing for larger fund sizes and more diversified investor bases. Additionally, qualified purchasers are presumed to have sufficient financial sophistication to evaluate complex investment risks independently.
From a marketing efficiency perspective, qualified purchasers typically make larger minimum investments, often starting at $1-5 million compared to $100,000-$500,000 minimums for accredited investor funds. This concentration allows marketing resources to focus on fewer, higher-value prospects with potentially stronger risk-adjusted returns expectations.
- Higher minimum investments reduce marketing costs per dollar raised
- Sophisticated investors require less basic education about alternative investments
- Qualified purchasers often have existing relationships with multiple fund managers
- This investor class typically seeks portfolio diversification beyond traditional assets
How Do Digital Targeting Strategies Work?
Digital targeting for qualified purchasers combines wealth data analytics, behavioral tracking, and sophisticated audience modeling to identify and reach ultra-high-net-worth prospects through online channels. These strategies leverage third-party wealth databases, digital footprint analysis, and lookalike modeling to create precise targeting parameters across advertising platforms.
Wealth data providers such as Wealth-X, WealthEngine, and Phoenix Marketing International offer detailed profiles of ultra-high-net-worth individuals, including asset levels, investment preferences, and contact information. When combined with digital advertising platforms, this data enables precise audience targeting based on verified wealth thresholds, geographic concentration, and investment behavior patterns.
Behavioral targeting analyzes digital activities that correlate with qualified purchaser status. These signals include engagement with financial publications like Institutional Investor or Private Equity International, attendance at wealth management conferences, and interaction with luxury lifestyle content. Advanced attribution modeling tracks these behaviors across devices and platforms to build comprehensive investor profiles.
Digital Targeting Components:
- Third-party wealth verification through accredited databases
- Lookalike modeling based on existing investor characteristics
- Geographic targeting of high-net-worth population centers
- Interest-based targeting around alternative investments and wealth management
- Behavioral retargeting of website visitors and content engagement
- Account-based marketing for known qualified purchaser prospects
What Role Do Family Offices Play?
Family offices serve as critical intermediaries in qualified purchaser targeting, managing investment decisions for ultra-wealthy families and often controlling hundreds of millions or billions in assets. These entities represent concentrated pools of qualified purchaser capital with professional investment teams that evaluate alternative investment opportunities on behalf of their principals.
Single-family offices manage assets for individual wealthy families and typically have $100 million to $5+ billion under management. Multi-family offices serve multiple wealthy families and may manage $500 million to $10+ billion in total assets. Both structures employ professional investment staff who source, evaluate, and monitor alternative investment allocations.
Family Office: A professional wealth management entity that handles the financial affairs of ultra-high-net-worth families, typically managing $100+ million in assets and employing dedicated investment professionals to evaluate alternative investment opportunities. SEC Family Office Definition
Targeting family offices requires relationship-based approaches that emphasize institutional-quality investment processes, transparency, and alignment of interests. Family office investment committees typically meet quarterly or semi-annually to review new opportunities, creating predictable decision-making cycles that sophisticated marketers can leverage.
According to the 2023 Family Office Study by UBS, family offices allocate an average of 26% of portfolios to alternative investments, with private equity, hedge funds, and real estate representing the largest allocations. This concentration creates substantial opportunities for alternative investment managers who can effectively demonstrate differentiated strategies and strong risk-adjusted return potential.
How Can RIAs Facilitate Access?
Registered Investment Advisors (RIAs) managing high-net-worth and ultra-high-net-worth clients serve as valuable distribution partners for qualified purchaser targeting strategies. These advisors often have direct relationships with qualified purchasers and can provide introduction services, due diligence support, and ongoing client management.
RIA partnerships typically involve developing relationships with firms that specialize in alternative investments or maintain dedicated alternative investment platforms. These advisors understand qualified purchaser regulations and can efficiently identify eligible clients within their books of business. Successful RIA targeting requires demonstrating value-added services beyond basic investment management.
The RIA channel has grown significantly, with assets under management reaching $4.7 trillion as of 2023 according to SEC data. Large RIAs managing $1+ billion often have dedicated alternative investment teams and established processes for evaluating new opportunities. These firms represent efficient access points to multiple qualified purchaser relationships.
RIA Partnership Benefits:
- Access to pre-qualified investor relationships
- Professional due diligence support and validation
- Ongoing investor communication and service
- Economies of scale in marketing and compliance
- Established trust relationships with end investors
What Compliance Requirements Apply?
Marketing to qualified purchasers operates under strict SEC regulations that govern private fund advertising, investor verification, and disclosure requirements. Rule 506(c) of Regulation D allows general solicitation to qualified purchasers but requires robust verification procedures and comprehensive compliance documentation.
Verification requirements mandate that fund managers take reasonable steps to verify qualified purchaser status before accepting investments. This process typically involves reviewing tax returns, bank statements, brokerage account statements, or third-party verification letters from CPAs or attorneys. Documentation must be maintained for SEC examination purposes.
Rule 506(c): SEC regulation permitting general solicitation and advertising of private securities offerings, provided all investors are accredited (or qualified purchasers for certain funds) and the issuer takes reasonable steps to verify investor status. SEC Rule 506(c) Text
Marketing materials must include required risk disclosures, performance disclaimers, and limitations on forward-looking statements. The Investment Advisers Act requires that communications be fair, balanced, and not misleading, with particular scrutiny on performance advertising and case studies. All marketing materials should be reviewed by compliance counsel before distribution.
Record-keeping requirements mandate maintaining copies of all marketing materials, investor communications, and verification documentation for at least five years. These records must be readily available for SEC examination and organized to demonstrate compliance with applicable regulations.
Which Content Marketing Strategies Work Best?
Effective content marketing for qualified purchasers emphasizes educational thought leadership, market analysis, and portfolio construction guidance rather than direct product promotion. This sophisticated audience seeks valuable insights that demonstrate investment expertise and differentiated thinking about market opportunities and risks.
Long-form research reports analyzing market trends, sector opportunities, and investment themes resonate strongly with qualified purchasers and their advisors. These materials should demonstrate quantitative analysis capabilities, unique market insights, and clear investment rationale. White papers examining regulatory changes, tax implications, or portfolio construction strategies provide additional value.
Video content featuring investment team discussions, market commentary, and educational webinars helps build personal connections with key decision-makers. Qualified purchasers often evaluate investment managers based on team credibility and investment philosophy alignment, making video content particularly effective for relationship building.
High-Impact Content Formats:
- Quarterly market outlook reports with original analysis and forecasts
- Educational webinar series on alternative investment topics
- Podcast appearances discussing investment themes and market opportunities
- Conference presentations and speaking engagements
- Case study analysis of investment themes and portfolio construction
- Regular market commentary and investment team insights
Agencies specializing in financial services content marketing, such as WOLF Financial, often help alternative investment managers develop compliant educational content that resonates with qualified purchaser audiences while meeting SEC advertising requirements.
How Do Event Marketing Strategies Drive Results?
Event marketing provides qualified purchaser targeting with high-value relationship-building opportunities through conferences, private dinners, and exclusive networking events. These face-to-face interactions enable investment managers to build personal relationships with prospects and demonstrate expertise through speaking opportunities and thought leadership.
Industry conferences such as the Alternative Investment Management Association (AIMA) events, Institutional Investor conferences, and family office gatherings concentrate qualified purchasers and their advisors in single locations. Strategic conference participation through sponsorships, speaking slots, and targeted networking maximizes relationship-building opportunities.
Private events and intimate dinners offer higher-quality engagement opportunities with smaller groups of qualified prospects. These settings enable deeper discussions about investment strategies, market outlook, and specific fund opportunities while building personal relationships that drive investment decisions.
Virtual events have expanded reach while reducing costs, allowing investment managers to engage qualified purchasers globally through webinars, virtual conferences, and online networking platforms. Hybrid event strategies combine in-person relationship building with virtual content delivery for maximum efficiency.
- Target conferences with high qualified purchaser attendance rates
- Develop compelling speaking topics that demonstrate investment expertise
- Host private events in major financial centers and family office hubs
- Create follow-up systems to capitalize on event connections
- Track event ROI through relationship development and investment metrics
What Database and CRM Strategies Support Targeting?
Sophisticated database management and Customer Relationship Management (CRM) systems enable effective qualified purchaser targeting through detailed prospect tracking, relationship mapping, and automated nurturing campaigns. These platforms integrate wealth data, interaction history, and behavioral tracking to optimize outreach timing and messaging.
Wealth verification databases from providers like Dun & Bradstreet, Thomson Reuters, and AccuData provide foundational qualified purchaser identification capabilities. These services offer verified net worth information, investment preferences, and contact details for ultra-high-net-worth individuals and institutions.
Advanced CRM platforms designed for alternative investments, such as Altvia, eFront, or Salesforce Financial Services Cloud, provide specialized functionality for private fund marketing. These systems track investor preferences, investment history, regulatory status, and relationship development progress while maintaining compliance documentation.
Database Management Best Practices:
- Regular data cleansing and verification to maintain accuracy
- Integration of multiple data sources for comprehensive prospect profiles
- Automated lead scoring based on qualified purchaser likelihood
- Relationship mapping to identify warm introduction opportunities
- Behavioral tracking across digital touchpoints and content engagement
- Compliance monitoring for investor verification and communication records
How Can LinkedIn Be Leveraged Effectively?
LinkedIn provides sophisticated targeting capabilities for reaching qualified purchasers through professional networking, content distribution, and account-based marketing strategies. The platform's wealth of professional data enables precise audience targeting while offering relationship-building tools that facilitate warm introductions and ongoing engagement.
Advanced LinkedIn targeting combines job titles, company information, industry affiliations, and behavioral data to identify qualified purchaser prospects. Investment committee members at family offices, chief investment officers at endowments, and senior executives at RIA firms represent high-value target audiences accessible through LinkedIn's professional database.
LinkedIn content marketing enables thought leadership distribution directly to qualified purchaser newsfeeds through organic posts, LinkedIn articles, and video content. Investment managers can build credibility and demonstrate expertise while generating engagement from prospects and their advisors.
Sales Navigator provides enhanced prospecting capabilities with advanced search filters, lead recommendations, and relationship pathway identification. This tool enables investment managers to identify mutual connections who can facilitate warm introductions to qualified purchaser prospects.
LinkedIn Strategy Components:
- Optimized executive profiles showcasing investment expertise and thought leadership
- Targeted content campaigns addressing qualified purchaser interests and concerns
- Strategic connection building with prospects, advisors, and industry influencers
- LinkedIn messaging campaigns with personalized outreach and value-driven content
- Event promotion and follow-up for conferences and private gatherings
What Email Marketing Approaches Generate Engagement?
Email marketing for qualified purchaser targeting requires sophisticated segmentation, personalization, and value-driven content that respects the time constraints and information preferences of ultra-high-net-worth individuals and their advisors. Successful campaigns focus on exclusive insights, market intelligence, and investment opportunities rather than generic promotional content.
Segmentation strategies divide qualified purchaser lists based on wealth levels, investment preferences, geographic location, and relationship status. Ultra-high-net-worth individuals typically prefer concise, executive-summary format communications, while investment advisors may appreciate more detailed analysis and supporting documentation.
Personalization extends beyond basic name insertion to include relevant market commentary, investment themes aligned with recipient interests, and customized invitations to exclusive events or opportunities. Advanced email platforms can dynamically insert personalized content based on recipient behavior and preferences.
Content quality becomes paramount when targeting sophisticated investors who receive numerous investment-related communications daily. Original market analysis, exclusive research insights, and early access to investment opportunities help differentiate communications from competitors.
Email Campaign Best Practices:
- Executive summary format with key insights in the first paragraph
- Mobile optimization for busy executives accessing email on smartphones
- Clear value proposition in subject lines without hyperbolic language
- Exclusive content and early access offers to build list value
- Professional design that reflects institutional quality and credibility
- Compliance review for all content and required disclaimers
How Do Attribution and ROI Measurement Work?
Attribution and ROI measurement for qualified purchaser targeting requires sophisticated tracking systems that connect marketing touchpoints to ultimate investment decisions across extended sales cycles that often span 12-24 months. These measurement frameworks must account for multiple stakeholder involvement and complex decision-making processes typical of ultra-high-net-worth investing.
Multi-touch attribution models track prospect interactions across digital channels, events, content consumption, and relationship development activities. Advanced platforms assign weighted credit to different touchpoints based on their influence on investment decisions, enabling optimization of marketing spend allocation.
Revenue attribution connects marketing activities to actual capital commitments, factoring in investment amounts, management fees, and lifetime value calculations. Given the high value of qualified purchaser investments, accurate attribution becomes critical for optimizing marketing strategy and budget allocation.
Leading indicators include content engagement rates, event attendance, meeting requests, and due diligence packet downloads. These metrics provide early signals of investment interest and enable proactive relationship development before formal investment discussions begin.
Marketing Attribution: The process of identifying which marketing touchpoints contribute to qualified purchaser investment decisions, typically involving multi-channel tracking, weighted scoring models, and revenue correlation analysis across extended sales cycles. Accurate attribution enables optimization of marketing spend and strategy refinement.
Key Performance Metrics:
- Cost per qualified lead (CPL) based on verified qualified purchaser status
- Marketing qualified lead to investment conversion rates
- Average deal size and total assets under management growth
- Customer acquisition cost (CAC) and lifetime value (LTV) ratios
- Pipeline velocity and sales cycle length optimization
- Content engagement correlation with investment decisions
What Technology Platforms Enable Targeting?
Technology platforms for qualified purchaser targeting integrate wealth data, marketing automation, compliance monitoring, and relationship management capabilities to create comprehensive targeting and nurturing systems. These platforms must handle sensitive financial information while maintaining regulatory compliance and enabling sophisticated audience segmentation.
Marketing automation platforms designed for financial services, such as HubSpot Financial Services or Marketo, provide specialized functionality for qualified purchaser campaigns. These systems integrate with wealth databases, track regulatory compliance requirements, and enable sophisticated lead scoring based on qualified purchaser likelihood and investment readiness.
Artificial intelligence and machine learning capabilities enhance targeting precision through predictive modeling, behavioral analysis, and automated optimization. These technologies can identify qualified purchaser prospects based on digital behavior patterns, predict investment likelihood, and optimize campaign timing and messaging.
Data management platforms (DMPs) aggregate information from multiple sources to create comprehensive qualified purchaser profiles. These systems integrate first-party data from website interactions and email engagement with third-party wealth data and behavioral information from advertising platforms.
Essential Platform Capabilities:
- Wealth database integration and automated qualification verification
- Compliance monitoring and documentation management
- Multi-channel campaign orchestration and attribution tracking
- Relationship mapping and warm introduction identification
- Behavioral scoring and predictive analytics for investment likelihood
- Integration with CRM systems and investment management platforms
Specialized agencies like WOLF Financial often provide integrated technology solutions that combine platform management, compliance oversight, and campaign optimization specifically for institutional finance marketing needs.
Frequently Asked Questions
Basics
1. What is the difference between accredited investors and qualified purchasers?
Qualified purchasers have higher wealth thresholds than accredited investors, requiring $5+ million in investable assets compared to $1+ million net worth for accredited status. This distinction allows qualified purchasers to access Section 3(c)(7) funds with unlimited investors, while accredited investors can access Section 3(c)(1) funds limited to 100 investors.
2. How many qualified purchasers exist in the United States?
Approximately 400,000-500,000 households qualify as qualified purchasers based on Federal Reserve data, representing about 0.3% of U.S. households. This concentrated market controls over $15 trillion in investable assets, making it highly attractive for alternative investment managers despite its small size.
3. What types of investments are available exclusively to qualified purchasers?
Qualified purchasers can access Section 3(c)(7) private funds, including hedge funds, private equity funds, real estate funds, and other alternative investments with higher minimum investments and potentially superior risk-adjusted returns. These funds often have $1-10 million minimums compared to $100,000-$500,000 for accredited investor funds.
4. Do qualified purchasers require the same disclosures as retail investors?
No, qualified purchasers are presumed to have sufficient financial sophistication and resources to evaluate investment risks independently. However, they still receive comprehensive disclosure documents including private placement memoranda, subscription agreements, and ongoing reporting.
5. Can non-U.S. investors qualify as qualified purchasers?
Yes, non-U.S. persons can qualify under Section 2(a)(51) if they meet the $5+ million investable asset threshold and are not formed for the purpose of investing in the particular fund being offered.
How-To
6. How do you verify qualified purchaser status?
Verification requires reviewing financial documentation such as tax returns, brokerage statements, bank statements, or third-party verification letters from CPAs or attorneys. Fund managers must take "reasonable steps" to verify status and maintain documentation for SEC examination purposes.
7. How can you identify qualified purchaser prospects using digital tools?
Use wealth data providers like Wealth-X or WealthEngine combined with digital advertising platforms for precise targeting. Analyze behavioral signals like engagement with financial publications, attendance at wealth management events, and interaction with luxury lifestyle content to identify prospects.
8. What content topics resonate most with qualified purchasers?
Focus on sophisticated investment themes like alternative asset allocation, tax optimization strategies, estate planning considerations, and macroeconomic analysis. Avoid basic investment education in favor of advanced portfolio construction and risk management topics.
9. How do you build relationships with family offices effectively?
Research family office investment preferences and decision-making processes, then provide valuable insights through thought leadership content and exclusive event invitations. Focus on building relationships with investment committee members and chief investment officers through professional networking and mutual connections.
10. What email subject lines generate the highest open rates?
Use specific, value-driven subject lines like "Q4 Market Outlook: Three Key Themes" or "Exclusive Research: Alternative Asset Allocation Trends" rather than generic promotional language. Include sender credibility indicators and avoid hyperbolic claims.
Comparison
11. Should you target individual qualified purchasers or institutional investors?
Both approaches have merits. Individual qualified purchasers often make faster decisions but require more relationship building. Institutional qualified purchasers like endowments have longer decision cycles but larger check sizes. Most successful strategies target both segments with customized approaches.
12. Which is more effective: digital marketing or relationship-based marketing?
Relationship-based marketing typically generates higher conversion rates, while digital marketing provides efficient prospect identification and nurturing. The most effective strategies combine digital targeting for lead generation with relationship building for conversion and retention.
13. How do RIA partnerships compare to direct marketing approaches?
RIA partnerships provide access to pre-qualified relationships and professional validation but involve revenue sharing. Direct marketing maintains higher margins but requires more extensive compliance infrastructure and longer relationship development cycles.
14. What are the advantages of targeting single-family versus multi-family offices?
Single-family offices often have faster decision-making processes and more concentrated wealth, while multi-family offices provide access to multiple wealthy families through one relationship. Multi-family offices typically have more professional investment staff and established due diligence processes.
Troubleshooting
15. What are common compliance mistakes in qualified purchaser marketing?
Common mistakes include inadequate investor verification, misleading performance advertising, failure to maintain proper records, and general solicitation without proper Rule 506(c) compliance. Always involve compliance counsel in marketing material review and campaign planning.
16. How do you overcome skepticism from prospects who receive numerous investment pitches?
Differentiate through unique market insights, exclusive research, and demonstrated expertise rather than product promotion. Focus on education and value-added content that helps prospects make better investment decisions regardless of whether they invest with you.
17. What should you do if prospect engagement rates are low?
Review content relevance, messaging sophistication, and targeting precision. Qualified purchasers expect institutional-quality communications and unique insights. Consider surveying existing investors about content preferences and communication frequency.
18. How do you handle prospects who seem qualified but cannot verify status?
Maintain detailed records of verification attempts and consider alternative verification methods. Some prospects may need assistance understanding requirements or may prefer third-party verification through their advisors. Never accept investments without proper verification.
Advanced
19. How do tax law changes affect qualified purchaser targeting strategies?
Tax law changes can significantly impact investment preferences and allocation strategies. Stay current on tax legislation affecting high-net-worth individuals and incorporate tax optimization themes into content marketing and investor communications.
20. What role does ESG investing play in qualified purchaser preferences?
ESG considerations are increasingly important to qualified purchasers, particularly younger wealth holders and institutional investors. Incorporate sustainability themes and impact measurement into investment strategies and marketing materials where appropriate.
21. How do you adapt strategies for international qualified purchaser markets?
International targeting requires understanding local wealth concentrations, regulatory requirements, cultural preferences, and currency considerations. Partner with local advisors and adapt content for regional investment themes and regulatory frameworks.
Compliance/Risk
22. What are the penalties for improper qualified purchaser solicitation?
Penalties can include SEC enforcement actions, fines, fund registration requirements, and reputational damage. Violations of qualified purchaser regulations can result in loss of private fund exemptions and significant legal liability.
23. How often should you re-verify qualified purchaser status?
While regulations don't specify re-verification frequency, best practice involves annual verification for ongoing investors and immediate verification for new investors. Market volatility may affect investor qualification status, requiring periodic review.
24. What records must be maintained for qualified purchaser marketing activities?
Maintain all marketing materials, investor communications, verification documentation, and compliance reviews for at least five years. Records must be organized and readily available for SEC examination, with clear documentation of compliance procedures and oversight.
Conclusion
Qualified purchaser targeting techniques represent a sophisticated approach to alternative investment marketing that combines regulatory compliance with precision targeting to reach ultra-high-net-worth investors. Success requires understanding the unique characteristics of qualified purchasers, implementing robust compliance procedures, and developing relationship-based marketing strategies that emphasize education and thought leadership over direct promotion. The most effective campaigns integrate digital targeting capabilities with high-touch relationship building through family offices, RIAs, and industry events.
When evaluating qualified purchaser targeting strategies, consider:
- Regulatory compliance requirements and verification procedures for your target markets
- Technology platform capabilities for wealth database integration and compliance monitoring
- Content marketing strategies that demonstrate investment expertise and provide unique value
- Relationship development approaches through family offices, RIAs, and industry networks
- Attribution and measurement systems that track long sales cycles and multiple stakeholders
For alternative investment managers seeking to develop comprehensive qualified purchaser targeting strategies with regulatory compliance and measurable results, explore WOLF Financial's institutional marketing services designed specifically for private fund marketing and alternative investment promotion.
References
- U.S. Securities and Exchange Commission. "Qualified Purchaser Definition - Section 2(a)(51) Investment Company Act of 1940." SEC.gov. https://www.sec.gov/investment/qualified-purchaser
- Federal Reserve Board. "2023 Survey of Consumer Finances." Federal Reserve Economic Data. https://www.federalreserve.gov/econres/scfindex.htm
- U.S. Securities and Exchange Commission. "Rule 506(c) - General Solicitation." Final Rules Release No. 33-9415. https://www.sec.gov/rules/final/2013/33-9415.pdf
- Investment Advisers Act of 1940. "Section 206 - Prohibited Transactions." 15 U.S.C. 80b-6. https://www.law.cornell.edu/uscode/text/15/80b-6
- UBS Global Family Office Study. "Family Office Investment Allocation Report 2023." UBS Wealth Management. https://www.ubs.com/global/en/wealth-management/our-approach/ultra-high-net-worth/family-office.html
- U.S. Securities and Exchange Commission. "Investment Adviser Registration and Reporting." Form ADV Statistics. https://www.sec.gov/help/foiadocsinvafoiahtm.html
- Alternative Investment Management Association. "AIMA Qualified Purchaser Study." AIMA Research. https://www.aima.org/
- Wealth-X. "Ultra High Net Worth Individuals Report 2023." Wealth Intelligence Platform. https://www.wealthx.com/
- Investment Company Act of 1940. "Section 3(c)(7) Private Investment Company Exception." 15 U.S.C. 80a-3. https://www.law.cornell.edu/uscode/text/15/80a-3
- Private Fund Statistics. "SEC Private Fund Reporting Statistics Q4 2023." SEC Division of Investment Management. https://www.sec.gov/divisions/investment/private-funds-statistics.shtml
- Family Office Exchange. "Family Office Benchmarking Study 2023." FOX Research Division. https://www.familyoffice.com/
- Preqin Alternative Assets. "Global Family Office Report 2023." Preqin Research. https://www.preqin.com/insights/research/reports/global-family-office-report
Important Disclaimers
Disclaimer: Educational information only. Not financial, legal, medical, or tax advice.
Risk Warnings: All investments carry risk, including loss of principal. Past performance is not indicative of future results.
Conflicts of Interest: This article may contain affiliate links; see our disclosures.
Publication Information: Published: 2025-11-03 · Last updated: 2025-11-03T00:00:00Z
About the Author
Author: Gav Blaxberg, Founder, WOLF Financial
LinkedIn Profile
