As discussed in the previous blog, both high-net-worth and ultra-high-net-worth individuals are on the rise. Let’s examine a little closer in detail as to what this exactly means. With the help of Wealth-X research, we have learned that there are 199,235 UHNW individuals across the world. When their wealth is combined, it equals to that of $27.8 trillion. These individuals have increased a whopping 6.3% in the last year alone.
A family office is generally designed to prepare family members to manage, sustain, and grow their wealth across multiple generations. While many of us have our own definition of what we consider to be wealthy, the industry views individuals with a minimum of $ 1 million as a high-net-worth individual.
Significant differences can be found in the way Asia's newly wealthy view the usefulness of a family office from their peers in the West, but finding harmony is the key to success.
“At FFI, scholarly research and generated knowledge is publically disseminated through rigorous peer-reviewed research articles published in Family Business Review (1988), and usable findings published in the FFI Practitioner including
the FBR Précis. Interest in family business research is now global and multi-disciplinary, but this was not always the case.
This is a really great piece on impact investing courtesy of AB Global. A link to the full article is below.
In this week’s blog, I interview family office expert, Daniel Goldstein, who has been advising UHNW families across Europe and the United States on their liquid investments, businesses, structuring, direct real estate investments, family dynamics, yachts, concierge services and philanthropy since 1994.
In this week’s blog, I interview Declan Winston Ramsaran, Managing Director at PANGEA Private Family Offices based in Toronto, Canada. Declan talks to us about wealth management for multigenerational families.
In this week’s blog post, I discuss generational legacy, and what this entails for both the senior generation and the next generation.
In this week’s blog post, I discuss the evolution of the family bank, and the role of the family office in family banks.
In this week’s blog post, I discuss the role of the family bank, and four keys to successful implementation of this entity.