Have recent difficult times moved investors towards a greater understanding that stability, simplicity and transparency hold the key to greater wealth protection?
Whilst the wealth management industry has come under considerable scrutiny in recent times where issues of ‘tax leakage’ and ‘secrecy’ are concerned, jurisdictions such as Jersey have taken this as an opportunity to demonstrate their inherent strengths.
Asia has stood out as being less affected by the global credit crisis that began last year and many believe it will lead the world markets going forward. But is the region really that different and can it sustain growth in such a difficult market?
Recent events should work to the advantage of family offices as they refocus attention on the principles of capital preservation, liquidity and working in close partnership with managers.
Beliefs affect behaviour, leadership guides activity and education improves skills. But how can beliefs come to be represented by a coherent set of values which family members broadly embrace?
If 2008 was the year the hurricane blew the roof off then 2009 has been characterised by
rebuilding and assessing what values and skills we need to build a more robust financial system.
The Single Family office (‘SFO’) is under assault. Bruised and battered by the recent financial turmoil, a number of SFOs are now considering their future.
In my 35 years of helping families of significant wealth never have I seen so much mistrust and despair. The wealthy are feeling helpless and under siege from the collective instability and mismanagement by the world’s financial system as well as the unprecedented fraud from factors such Madoff and others.
As the world gets smaller from the tax perspective and as the powers and ambitions of the tax authorities grow, it is imperative that family offices not only recognise these changes but act positively in relation to them. Family offices need a “tax policy” in the same way they need a strategy for their business or a charter for their family governance.
Why go to the time and effort of developing our own proprietary software when there are a number of sophisticated professional solutions available for
wealth managers?
The focus on climate change and its implications in terms of assessing economic cost and investment portfolio risks are highlighted by political and industry commentators across the globe.
