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Author: Editor

The White Paper: When should you set up a Family Office?

by: Editor
22/12/2017
Photo: ec_Estromberg
Photo: Tec Estromberg

Family Wealth Background
We are witnessing an era of unprecedented transfer of wealth from one generation to the next as the world’s most affluent individuals approach retirement and contemplate their succession and wealth planning issues.

The needs of these families are extensive, complicated, and require expert advice, so many are considering a Family Office to help them manage this transition and provide a crucially provide a framework for the Next Generation (Next Gen).

The problem is especially difficult for many advisers is that they are ill-equipped to connect with these Next Gen clients who are technology savvy and expect a very different service experience than their parents did.

Wealth Transfer in numbers
There were 187,500 global Ultra High-Net-Worth Individuals (UHNWI), those with investable assets of over $30 million, in 2016, according to Knight Frank in their annual Wealth Report.

According to Bank of America the great transfer of wealth will see a handover of about $12 trillion from those born in 1920s and 1930s to the Baby Boomers. However, the Boomers are expected to transfer some $30 trillion in assets to their heirs over the next 30-40 years in just the US alone.

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White Paper #3: Family values, a lesson from the All Blacks

by: Editor
30/11/2017
The All Blacks perform the haka in the new jersey before the All Black v South Africa test match at Westpac Stadium, Wellington, NZ. 30 July 201. Photo: Jo Caird/RugbyImages
The All Blacks perform the haka in the new jersey before the All Black v South Africa test match at Westpac Stadium, Wellington, NZ. 30 July 201. Photo: Jo Caird/RugbyImages

Family values, are traditional or cultural – that is, values passed on from generation to generation within families – that pertain to the family’s structure, function, roles, beliefs, attitudes, and ideals.

There are also the moral and ethical principles traditionally upheld and transmitted within a family, as honesty, loyalty, industry, and faith and are traditionally learned or reinforced within a family, such as those of high moral standards and discipline.

This is not just a Christian view either as interpretations of Islamic and Arab culture states that as an indisputable fact in the academic literature the family is regarded as the main foundation of Muslim society and culture; the family structure and nature of the relationship between family members are influenced by the Islamic religion.

Who serves the best example of these values?
We can take many values from successful sporting teams, as they tend to transcend normality and fill a unique space in our lives. In researching this article I was both surprised and heartened to learn that the most successful sporting team in history is the New Zealand All Blacks rugby team.

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White Paper #6: How to mitigate digital footprint risks?

by: Editor
02/10/2017

digitalfootprint

Managing vulnerabilities in your digital footprint
As the world moves increasingly online, most of our daily lives are recorded on some sort of electronic record, but what’s worse is that what happens online is beyond our control, in the hands of social media, search engines and other much less visible web platforms.

While it’s fair to say that every individual could be the victim of his or her own digital footprint, it is those more publicly visible people who are most at risk – from High Net Worth Individuals (HNWIs), their families and businesses through to well-defined, high-risk groups such as those connected to politics. For such groups, even seemingly harmless information can be misinterpreted, spun and used by hostile third parties to expose private activity, attack reputations, and even do serious harm.

Maintaining a low profile is often important to influential figures, especially when it comes to ensuring the protection of their families. However, counter intuitively, it is the digital space, which remains overlooked and lacks risk assessment by those who desire confidentiality and privacy.

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White Paper #5 – Top Tips for New Philanthropists

by: Editor
29/03/2017

worldphilanthopy

This article addresses the increasing interest by Families on how to be philanthropic, especially from the Millennial (18-35 year olds) members.

Why give?
There are many reasons, ranging from wealth and tax planning, to brand building, to much more personal motivations, that people may decide to get involved in philanthropy.

Philanthropy is now in vogue, widely celebrated, and adopted as a worthy lifestyle choice amongst the wealthy. We know that philanthropy is on the rise, too. According to the Coutts Million Dollar Donors Report, $56 billion (€47 billion) donations of more than $1 million (€840,000) were made in 2015 – a significant rise from the previous year.

Giving can be a hugely rewarding experience. Getting to know the dynamic individuals and organisations working at the frontline of social change is enriching and humbling. And such engagement can cut across different aspects of your life – from involving the family and even the children in planning and choosing donations, to engaging companies and their employees.

One of the best reasons to give is that the world needs it. Philanthropy has often played a hugely important role in the development of just, democratic societies. Now more than ever – with such global and complex challenges as global under-nutrition, gender inequality, climate change and the refugee crisis – philanthropy has a very important role to play.

What are some of the challenges donors face?
While the journey of a philanthropist is a privileged and rewarding one, it’s not easy to be effective. Here are some of the key pitfalls:

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