The investment and advisory industries are in the midst of a sea change as the forces of technology drive commoditization and fee compression.

Family offices - tasked with the challenge of investing private capital for multiple generations - are reassessing many traditional approaches to building portfolios:

• Loss of faith in quantitative models
• The upending of conventional asset allocation approaches
• Continuing commoditization of long-only equity
• Looking "beyond" hedge funds for less correlated investments
• Rethinking private equity investing: returning to a wealth creation focus by building operating businesses