As wealth grows, so does the complication of managing it. This is especially true as generations expand the number of family members, and diverse opportunities — real estate investment is a prime example — attract attention beyond passively watching the pile grow.
WE STARTED the turn of the decade on a sanguine note, when a novel coronavirus named “Covid-19” – which initially seemed to be just another headline in the news, among many others – escalated into a global pandemic that has since put the world on brakes, with numerous countries in lockdown and more than five million (and counting) confirmed cases worldwide.
Family offices stepped up borrowing against their private equity investments in the first quarter, moves made to increase their cash in the coronavirus crisis, according to UBS Group.
The purpose of a family office is to organize and centralize the management of a family’s personal and business financial affairs, and to maintain the financial house in as good an order as that of a well-run public company. The origin of the family office concept came from extremely wealthy families, and the family office was often a separate entity, with employees ranging from a CEO or CFO to a chief investment officer, along with a staff of bookkeepers and personal assistants.
Family offices increasingly have to navigate the complexities of cross-border legal issues: a necessary side-effect of globalisation. The family office will consequently need advisers on issues such as tax, estate planning and regulation that covers all countries in the mix, and advice on succession planning is increasingly featuring high up on the family office to-do list.
Michelle Lopez is about to cap off her first year as the head of Australian equities at Aberdeen Standard Investments. She shares with Kanika Sood the journey that got her there and the challenges facing women in funds management.
In this week’s 100x Entrepreneur Podcast, Anup Jain, Managing Partner of Orios Venture Partners, talks about what it takes to identify the best founders and investing in consumer brands.
Bluevisor, a member company of the Born2Global Centre, was selected for the second consecutive year to participate in the NatWest FinTech Accelerator Programme, which is sponsored by the Royal Bank of Scotland (RBS).
When China’s largest residential property developer raised money this month, a third of interest came from banks that service the wealthy, a group keeping faith with the nation’s beleaguered builders even as other investors flee.
How does someone achieve financial security or even get rich? Is it by earning a lot or by scrimping, exercising thrift and saving a lot? Bloomberg Opinion writers Nir Kaissar and Barry Ritholtz met online to debate.
