Family Office News

Wed 18 Apr 2018 - We are delighted to welcome KENDRIS to our approved supplier directory. KENDRIS is the leading Swiss partner for family office, trust and fiduciary services, Swiss and international tax and legal advice, accounting, outsourcing and art management. Traditional asset management services are not offered for reasons of independence. Their clients include companies, individuals and families as well as family offices, financial institutions, law firms and tax consultancies.

Read more about KENDRIS

Wed 11 Apr 2018 - We are delighted to welcome IYC to our approved supplier directory in the Yacht Services category. IYC is an international yachting company, and one of the largest worldwide, with over 100 passionate professionals based in 13 strategically located offices around the globe. IYC services include yacht sales & purchase, yacht charter, charter management, yacht management, insurance & claims management as well as crew placement.

Read more about IYC

Wed 28 Mar 2018 - We are delighted to announce our partnership with Saxo Markets and welcome them as Approved Supplier Members to our community. Saxo Markets will also be a headline partner at our Global Family Office Conference providing great content.

Saxo Markets is the Institutional Division of Saxo Bank Group providing institutional clients and their end customers with multi-asset execution, prime brokerage services and trading technology.

Read more about Saxo Markets

Mon 19 Mar 2018 - We are delighted to announce our partnership with The Monaco Economic Board (MEB). The MEB has joined our Approved Directory. The Embassy of Monaco in London recently hosted with us a special evening for a small group of family offices with The Ambassador. S. E. Mme Evelyne Genta, and we are delighted to have their support for our Single Family Office Retreat in the South of France later this year.

The MEB promotes economic activity in the Principality and actively contributes to its development. The MEB has two departments; MONACO INVEST and MONACO CHAMBER OF COMMERCE.

Read more about The Monaco Economic Board (MEC)

Mon 19 Mar 2018 - We are delighted to announce the continuation of our partnership with KPMG, by adding them to our online Approved Directory. The KPMG Family Office Services team understand that every family is different and so provide bespoke advice to establish and operate your family office.

Read more about KPMG Family Office Services

Thurs 15 Mar 2018 - Moore Stephens have published the latest edition of their 'Wealth Wise' newsletter. This edition focuses on information exchange, MiFID II, fraud awareness and US tax services. The newsletter can be read by clicking on the PDF below.

Wed 28 Feb 2018 - We are delighted to welcome Paracelsus Recovery to our approved supplier directory. Paracelsus Recovery was established in 2012 as a family-run clinic with one aim which was to provide the best possible treatment and care. They treat one client at a time in a compassionate, comfortable and luxurious setting, and as a fully licensed clinic provide treatments for all addictions, eating disorders and other mental health problems.

Read more about Paracelsus Recovery

Mon 29 Jan 2018 - Our approved healthcare concierge partner, HealthClic, have written an introduction to Whole Genome Sequencing and why we are still behind. The blog focuses on the need for genomic testing; family planning and genome sequencing.

Read the blog post

Wed 20 Dec 2017 - We are delighted to welcome Sergeant Leadership Communications to our Approved Family Office Supplier Directory. Sergeant Leadership Communications is a coaching and content service for entrepreneurs, investors and business families. It is led by former BBC Correspondent and award-winning PR adviser Mike Sergeant who was chairperson at the Global Family Office Conference 2017. Key services include Leadership Coaching; Next Generation Communications Coaching; Stories; Speech Writing; Event Chairing and Reputation Strategies.

Read more about Sergeant Leadership Communications

Fri 15 Dec 2017 - In light of today's unsettled business environment, navigating risk and thriving in a changing world has become increasingly complex. To help you through the environmental and regulatory changes, Moore Stephens, a top ten accountancy firm and advisor to family offices and high net worth individuals, has started the Family Office Academy. When signing up you will receive periodical updates and exclusive first access to the following topics:

• non-dom changes - video series
• MiFIDII
• tax: resident, domicile, real estate
• cyber security
• regulatory compliance: CRS, FATCA, GDPR

To sign up and benefit, please click here. If you have any questions or would like more information please contact louise.elmgren@moorestephens.com

Mon 13 Nov 2017 - We are pleased to welcome BNY Mellon Wealth Management to our Approved Family Office Supplier Directory. The Family Office Group at BNY Mellon Wealth Management has been a supporter of Global Family Office Community events over the last couple of years, and provides master global custody and safekeeping, consolidated reporting and record-keeping, risk and performance reporting as well as other services.

Read more about BNY Mellon Wealth Management

Wed 8 Nov 2017 - We are pleased to add ActionAid to our charity / philanthropy page. ActionAid is an international charity working in over 45 countries. They stop poverty at its source and work for a world where the most vulnerable and forgotten can become valued and powerful. Their top priority is to end the inequality that keeps women and girls locked in poverty, and to restore the rights denied to them from birth.

Read more about ActionAid

Tues 3 Oct 2017 - FOR has created a new category in our Family Office Supplier Directory for Training. The category outlines several training providers who focus on Family Office & Wealth Management Courses; Butler training; Personal Assistant (PA) & Executive Assistant (EA) training; Aviation safety training for private jets.

Click here to see the training category

Mon 25 Sep 2017 - The new issue of Larkmusic magazine has been published by Lark Insurance. A fascinating read to discover what goes on behind the scenes in the world of top-class music.

Click here to read the latest issue

Mon 25 Sep 2017 - Liliane Bettencourt, the heiress to cosmetics firm L'Oreal, has died aged 94, her family has confirmed. A statement said she had died at home "peacefully" overnight. With an estimated 2017 net worth of 33bn euros, she was the world's richest woman. Ms Bettencourt's assets, including her holding stake in the cosmetics company, were placed in a trust controlled by her daughter.

Source: BBC News

Tues 29 Aug 2017 - Institutions and family offices are increasingly turning to private debt as a means to generate alpha for their portfolios, according to Avamore Capital who have written an article on this subject. The article can be read by clicking on the PDF below.

Fri 30 Jun 2017 - Global Family Office Community held its fourth Global Family Office Conference on Thursday 15th June 2017 at The Dorchester hotel in London, UK. The feedback from the day has been fantastic, with the opportunity for delegates to meet their peers and hear from interesting speakers and presentations. We were joined by well over 150 family offices.

With thanks to all of our speakers, delegates and our sponsors who added value to the agenda; ICON Capital Reserve SA, Druces LLP, PlusHR, Heathrow VIP and Agreus. Planning is already underway for our 2018 Conference!

See the Conference agenda

Visit the Knowledge Centre to see the presentations

Tues 2 May 2017 - The Finance Bill 2017 was to have included all relevant legislation on the non-dom rules changes, but the final version which went through Parliament omitted the details on non-doms, along with several other areas. Withers has published a couple of articles around where this leaves non-doms.

Article 1

Article 2

Thurs 13 Apr 2017 - Agreus, a Global Family Office Advisory and Recruitment firm have published their latest Family Office Compensation Benchmark Report 2017. Employees of more than 250 family offices were surveyed.

Click here to download the report

Tues 21 Mar 2017 - Billionaire philanthropist David Rockefeller has died in his sleep at his home in Poncantico Hills, New York, a spokesman said. He was 101 years old. Mr Rockefeller, the last of his generation in the famed American family, was the grandson of Standard Oil co-founder John D Rockefeller. The centenarian was at the helm of his family's fortune, controlling both philanthropic and business interests. He was the youngest of five sons of John D Rockefeller Jr.

Source: BBC News

Tues 21 Mar 2017 - Microsoft founder Bill Gates again tops Forbes' list of the world's richest people, in a year when the number of billionaires rose 13% to 2,043. According to the magazine's annual rich list, Mr Gates' fortune rose to $86bn, from $75bn, followed by investor Warren Buffett, up $14.8bn to $75.6bn. It was bad news for US President Donald Trump, who slipped 220 spots to 544 and must now rub along on just $3.5bn. Forbes said the $1bn fall in his wealth was due to the slow US property market. There were 183 tech billionaires on the Forbes list, with a combined $1tn in wealth. The list is dominated by US billionaires.

Source: BBC News

Wed 8 Mar 2017 - Italy has recently put in place a new non-dom tax system, aimed at attracting HNWIs to Italy. The new rules add to the choice currently available to individuals without fixed domicile, such as the 'res non-dom' system in the UK, Ireland, Malta, the Swiss 'forfeit' rules and the Spanish Beckham Law. Legal firm Withers have produced further details, including a video.

Mon 27 Feb 2017 - Recently launched Cavendish Family Office have announced the appointment of Mark Estcourt as CEO. Mark joins from London & Capital where he was Executive Director, and brings with him 25 years of experience advising UHNW families and entrepreneurs. Cavendish Family Office, a multi family office, serves clients from all over the globe including the USA, Europe, Middle East and Asia, and helps clients from unusual and high risk geographic jurisdictions or with political connections, such as PEPs.

Cavendish Family Office have also written a white paper on the topic of "When does it make sense to set up a Family Office?" and this can be read by clicking on the PDF below.

Wed 15 Feb 2017 - We are delighted to welcome Adam Phones to our Family Office Supplier Directory. For almost 30 years, Adam Phones have been creating bespoke, high performance mobile and fixed line connectivity solutions for clients across the globe. Their multi award-winning service is trusted by organisations that include the London Diplomatic Corps, global alternative investment firms, family offices, FCA regulated companies and high net worth individuals.  From financial institutions intolerant of downtime to teams operating in difficult locations that include war zones and areas of national disaster, they deliver critical, failsafe communications combined with unmatched levels of support.

Read more about Adam Phones

Adam Phones have also written an article on selecting a telecommunications provider, with key considerations around the risks and maintaining security. You can click on the PDF below to read this article.

Mon 23 Jan 2017 - Michael Dean of Avamore Capital has written a piece on how family offices "need to dial up the humility" or risk underperforming. The interesting personal perspective and article can be downloaded by clicking on the PDF below.

Thurs 8 Dec 2016 - Michael Dean and Rocco Versace of Avamore Capital have written an article on the potential impact of a Trump Presidency on the UK property market, and some of the potential outcomes. These include: market reaction; policy follow-through; impact on the dollar; impact on foreign investors; impact on the property market. To read the article, please click on the PDF below.

Thurs 8 Dec 2016 - Global Family Office Community recently held a single family office breakfast seminar in London focusing on how to keep the family (office) safe. The panel discussion was wide ranging from financial risks, operational risks, through to personal and cyber security. A summary of the discussions can be read on our Knowledge Centre.

Mon 26 Sep 2016 - Wren Investment Office (Wren), an investment office for families and individuals with large fortunes, is launching in London. Wren is an experienced team, originating from Lord North Street, of wealth managers backed and part-owned by MdF Family Partners in Spain (MdF) and WE Family Offices in the USA (WE).

Wren Investment Office

Tues 30 Aug 2016 - Moore Stephens have produced 3 factsheets focusing on updates to changes to the taxation of non UK domiciliaries. You can click on the PDFs below to download them.

Fri 12 Aug 2016 - Billionaire landowner and philanthropist the Duke of Westminster has died aged 64, his family said. Gerald Cavendish Grosvenor died at the Royal Preston Hospital in Lancashire on Tuesday after suddenly becoming ill on his Abbeystead Estate. The duke's fortune was estimated at $10.8bn (£8.3bn) by Forbes magazine, making him the world's 68th richest person and the UK's third. A friend of the Royal Family, he became the sixth Duke of Westminster in 1979. The sudden death of billionaire landowner and philanthropist the Duke of Westminster means his 25-year-old son Hugh has now inherited the estate.

Source: BBC News

Fri 5 Aug 2016 - Druces LLP have prepared an article on what family offices with EU employees in the UK need to consider, post Brexit, from an immigration point of view. To read the article, please click on the PDF below.

Fri 24 Jun 2016 - Asian millionaires now control more wealth than those in North America, Europe and other regions, according to a report from finance firm Capgemini.Driven by China and Japan, Asia's millionaires saw their wealth jump by 10% in 2015, the firm's World Wealth Report found. Millionaires held nearly $60 trillion (£40 trillion) worldwide last year, four times higher than 30 years ago. That could rise to $100 trillion by 2025, Capgemini said. Asia's growth in high net worth individuals - defined as having $1 million in assets - came despite slowing economic growth in China and a weak Japanese economy. Capgemini found the growth in Asia was driven mainly by financial services, technology and health care industries. The region's millionaires held $17.4 trillion of wealth, compared with $16.6 trillion in North America, the report said. Europe's millionaires saw a 4.8% increase in wealth, which was led by Spain despite the country's record unemployment. The UK had the fifth highest number of high net worth individuals, although it only increased 1% to 553,000. Latin American millionaires suffered a decline in net worth of 3.7%, driven by political volatility and a turbulent stock market in Brazil. Worldwide, the wealth controlled by millionaires grew 4% last year to $58.7 trillion (£39.5 trillion). Earlier this year, Oxfam found that the richest 1% now have as much wealth as the rest of the world combined.

Source: BBC News

Wed 18 May 2016 - Hammer & Associates have released the first of their EngagedPhilanthropy™ series of toolkits created to assist families and their staff succeed in their philanthropic efforts. Laying the Groundwork: A Family Office Guide to Giving is a workbook that asks the questions – with space for answers – necessary for families to be more effective in their philanthropy. This series is a direct result of the 2015 report, Philanthropy in the Family Office: A Global Perspective. Download the workbook by clicking on the PDF below.

Wed 20 Apr 2016 - The Common Reporting Standard (CRS) is a game-changer in the global fight against tax evasion. Financial institutions resident in CRS countries will need to report account holder information to their local tax authorities, who will then exchange information with countries where account holders are tax residents. More than 90 jurisdictions have already committed to adopting CRS and there are more than fifty early adopters, with the first automatic information exchanges to happen in 2017. But what does it entail? Moore Stephens have put together a report on what organisations need to do when adhering to these reporting standards. You can download the report by clicking on the PDF below.

Wed 17 Feb 2016 - Tiger Recruitment have published their annual salary survey update which includes a guide on salary levels for Private Household and Family Office staff.

Click here to read the newsletter

Tues 9 Feb 2016 - Our approved Art Adviser, Cadell+Co, have written an article in this month's STEP magazine, which focusses on the need for art held in trust to be professionally managed. Click on the PDF below to read the article.

Thurs 4 Feb 2016 - Oracle Capital Group, the global independent multi-family office and wealth management company, has signed a memorandum of understanding to form a Joint Venture with IndusView UK Limited, the London-based India advisory firm, and reputed financial services professional Rudra Dalmia to establish their presence in the Indian market. The partnership will facilitate the expansion of Oracle Capital Group into the Indian market, ranking fourth in the highest number of Ultra High Net Worth Households in the world according to the Boston Consulting Group.

Wed 2 Sep 2015 - Melissa Paz, a senior solicitor in the employment team at Withers LLP, and a regular speaker at our events and conferences, has written a guide to employing staff for family offices, including the legal considerations.

Click here to read the article

Fri 12 Jun 2015 - Global Family Office Community, in partnership with Hammer & Associates have jointly published the report, "Philanthropy in the Family Office: A Global Perspective".

The report, is the first global study to research philanthropy in family offices worldwide, and was initially launched at the Global Family Office Conference 2015.

The report will be of interest for family offices, philanthropic families, advisors and support organisations.

Download the full report by clicking here

Thurs 16 Apr 2015 - Following the recent seminar in London, "Family Offices: People Are Your Greatest Asset", sponsored by the global family office and wealth management advisory and recruitment firm, Agreus, they have produced a video summarising the discussions that took place.

Click here to see the video

Tues 31 Mar 2015 - The Risk Advisory Group has been providing employee screening services to its clients since 1997 and in that time they have seen the practice of candidates providing false or inaccurate information on their CVs continue to grow. In their latest analysis 63% of CVs contained discrepancies, a rise of 15% in the last decade. Download their report by clicking on the PDF below.

Mon 2 Mar 2015 - The London-based multi-family office pioneers, SandAire and Lord North Street Private Investment Office, have announced that the two firms which formed a merger in 2014 will operate as one entity and will trade as an integrated business under the new name – Sandaire Investment Office. Sandaire Investment Office will be 100% owned by the Scott family and professionally managed by a board and management drawing on the resources from both original firms.

Click here for more information

Wed 11 Feb 2015 - Kidnap and ransom is a real threat and even a 'big business'. It is reported that criminal gangs can make up to $500m a year in ransom payments from kidnappings. The following article from Lark Insurance explains how to insure against suck risks.

Thurs 18 Dec 2014 - A recent seminar Global Family Office Community held in London focused on the issue of Successful Succession Planning covering the topics of: "5 reasons why succession plans fail", "understanding the UK inheritance tax system", and "best laid plans under attack". The presentations delivered are summarised in a whitepaper which can be read in the Knowledge Centre.

Read the whitepaper

Mon 1 Dec 2014 - Interesting article in the FT (Financial Times) on family office recruitment.

Read the full article

Mon 1 Dec 2014 - Canada Life article on the UK inheritance tax considerations for UK residents, those domiciled in the UK and non-UK domiciles.

Download the article by clicking on the PDF below.

Sat 8 Nov 2014 - Altamount Capital UK, the associate office of India’s first multi-family office Altamount Capital Management Pvt. Ltd, recently hosted their inaugural event at Leighton House Museum on the topic of “100 Days of the Modi – Emerging Investment Trends and Opportunities”. The highly regarded panel deliberated on some of the key challenges and policy decisions facing the new Modi government and what it meant in terms of opportunities for investors in India”.

Download the PDF event summary of the key observations below.

Thurs 6 Nov 2014 - The boards of Stonehage and Fleming Family & Partners (FF&P) today announce they will combine to form the EMEA region's foremost international multi-family office group, to be called Stonehage Fleming Family and Partners (SF&P). The Group will be the largest independent multi-family office business in the EMEA region. The combined business will serve a client base of over 250 families of wealth, and will manage, advise, and / or administer over $43 billion of assets. SF&P will employ over 500 staff in 14 offices, across 7 countries.

Thurs 25 Sep 2014 - Richard Branson has announced that 170 of his personal staff both in the UK and USA can take holidays for as long as they like. Taking the idea from Netflix, as he explains in his personal blog, he will trial the policy at the parent company, and assuming it goes as well as expected, he will encourage all subsidiaries to follow suit.

Read Richard Branson's blog

Thurs 22 May 2014 - The majority of owners believe their family-run business won't remain in the family into the next generation, according to survey results released by The Alternative Board (TAB). A recent article in Harvard Business Review found that nearly 70% of family owned businesses last just a single generation. As they point out, "the low survival rate has alarming consequences." With many family offices created upon the sale of the family firm, will there be an increase in the creation of family offices if the results are to believed?

In their survey of small businesses, TAB also revealed that less than a third of owners have a succession plan for their family business. Could this lack of foresight be the reason so many families lose control of their companies as leadership shifts?

Source: Family Office Review

Thurs 8 May 2014 - FamilyOfficeRecruitment.com is pleased to publish the Family Office Recruitment Report 2014.

Our second annual global talent report for the family office sector addresses the key talent issues family offices face, the attraction of family offices for candidates, current trends, skill requirements, a look at salary levels, as well as best practices. The report includes the results of our family office survey.

The report will be of interest to family offices, candidates, and the private wealth space in general.

Click here to download the 39 page report for free

Fri 21 Feb 2014 - Asian family businesses have been in the spotlight recently since recent research has shown that they are major drivers of growth and wealth creation in the region. A Credit Suisse report shows that some of the biggest global brands are family owned, including Samsung Electronics of South Korea, Tata Consulting of India, and Wilmar International in Singapore. Unlike their Australian, American, or European counterparts, which may be in their fourth or fifth generation, many Asian family businesses are still in their first generation cycle, with many less than two decades old. Though it’s hard not to admire the success of Asian family businesses, a shadow is looming on the horizon – that of age and succession. Most Asian businesses are lead by a patriarch who intends to work in the business until his dying day. Succession plans are often ambiguous or left vague because discussing the potential death or incapacity of an elder is taboo and can be seen as bringing misfortune.

Source: Family Office Review

Fri 8 Nov 2013 - Agreus, one of our recommended family office recruiters, have produced a video interviewing leaders in the family office space. The 3 videos, published on their website, provide an insight into the world of family offices. Their review has identified the critical aspects of family office recruitment, including the softer elements of the process that are often neglected, which often make the difference in making a successful hire and hence the successful running of a family office.

Click here to see the video

Mon 4 Nov 2013 - In the face of increasingly complex cyber-attacks, high-value families, celebrities and other high-net worth individuals are under growing pressure to pay closer attention to their security and digital privacy. Cyber-attacks are becoming ever more sophisticated, as well as frequent. The impact can be far-reaching, affecting both financial and reputation factors. Marclay Associates, an approved firm in our Family Office Supplier Directory, have written an article considering what family offices should think about when it comes to this issue. You can read the article by clicking on the PDF below.

Fri 18 Oct 2013 - Gunnlaugur Erlendsson, founder of the Erlendsson Private Office has written two interesting articles; the first is entitled "The Apple - a modern family office" and the second "The Perfect Storm". You can read both articles by clicking on the relevant PDFs below.

Mon 22 Jul 2013 - The convergence of extraordinary economic and social factors is shaping investment attitudes to Sub-Saharan Africa. The African Insight White Paper discusses how steady economic growth, urbanisation, demographic changes and improvements in infrastructure are creating an emerging middle class which will demand more political accountability and better levels of health provision and education. This will have long-lasting effects on the development of Sub-Saharan economies and promote growth away from basic materials and mining. To download the full report produced by Richard Howarth of African Private Office and Olivier Zucker of Zucker & Co please click on the PDF below. To receive access to future editions of this report, please register at www.african-insight.net.

Thurs 21 Jun 2012 - Interesting interview around family offices with our Advisory Board member, John Elder, in the June / July 2012 issue of Chartered Banker Magazine. To read the full interview, please click on the PDF below.

Tues 13 Dec 2011 - In nearly 90% of high net worth households, women are either the sole decision maker or an equal partner in decisions about charitable giving, according to the Bank of America Merrill Lynch 2011 Study of High Net Worth Women's Philanthropy. The power and influence of women in philanthropy may mean that some charitable organisations will need to adapt their messaging and strategies to appeal to women's distinct charitable giving behaviours and motivations, says the bank.

Source: Family Office Review