The main purpose of a client’s efforts in business is to secure a future for family and dependents. We may be asked to provide advice and support for business matters but we do not forget the importance of family.
Family wealth may result from the past efforts of many generations or be more recently acquired. However whatever the history the overall objective for the future is to enhance income and growth.
Wealth Management requires expertise including financial planning, investment portfolio management and various financial services in conjunction with a wider framework of advice on corporate structures, taxation and related matters.
When considering tax, finance, and family law, not all jurisdictions are the same.
Anyone with business and family interests is naturally motivated to preserve and protect.
A trust can be used for protection and control of family assets so that hereditary assets or property can be passed on under the terms of considered wishes. Trusts may also be established to be the beneficiary of family business operations.
- Client’s are in business to secure a future for family and dependents
- Client’s are naturally motivated to preserve and protect
- Trusts and Foundations can be used to benefit successive generations of family members
- Clients operating internationally might require Off-shore advice.
- Wealth Management seeks to enhance income and growth
- Wealth Management for family and individuals is different to that for institutions
- Family Wealth Management advice incorporates:
- financial planning and investment portfolio management; and
- wider advice on business, corporate structures; and taxation.
- Our family advocate services offer some very special support
A foundation is an incorporated, self-owning, legal entity which, although having much in common with limited companies and trusts, possesses its own unique features for protection and control. A Foundation can be akin to a family trust in order to benefit successive generations of family members, allowing the Foundation’s founder to benefit his children and grandchildren in a controlled way, both during his life and long after his death
Trusts and foundations operate in very different ways. However the protection given by all comes from ownership of assets being removed from the regular user or beneficiary. Legal title to an asset is placed with a different legal entity. Trusts have their roots in the common law in USA, UK and countries of the former British Commonwealth while foundations have their origins in civil law in Europe, Russia, Central & South America and Asia. Typically clients may be more familiar with one legal system than the other.
Trusts and Foundations can operate within a corporate structure that provides the best overall framework for the operation of the family business and investment interests.
Family wealth many result from the past efforts of many generations or be more recently acquired. However whatever the history the overall objective for the future is to enhance income and growth.
One must already have accumulated a significant amount of wealth for wealth management strategies to be effective. Consequently wealth management is often considered as a high-level form of private banking for the especially affluent. However we appreciate that far more can be involved.
Clients operating internationally, perhaps with no primary residence and having interests in several countries, gives rise to lifestyle that requires an international solution in terms of arrangements for family wealth. When considering tax, finance, and family law, not all jurisdictions are the same. Operating internationally might require offshore advice.
Off-shore jurisdictions may have a low or no tax regime. However providing for tax-favoured treatment of long-term investment may require a broader range of taxation advice.
Accordingly we consider Wealth Management as advice that incorporates expertise including financial planning, investment portfolio management and a number of aggregated financial services operating in conjunction with a wider framework of advice to our clients on corporate structures, taxation and related matters.
We can also emphasise and explain the importance of the “family” in terms of wealth management by highlighting two primary factors that distinguish the issues facing individual family investors from those facing institutions:
- Time horizons differ. Individuals face a finite life as compared to the theoretically infinite life of institutions. This fact requires strategies for transferring assets at the end of an individual’s life. These transfers are subject to laws and regulations that vary from locality to locality and therefore the strategies available to address this situation vary.
- Individuals are more likely to face a variety of taxes on investment returns that vary from locality to locality. Portfolio management techniques that provide individuals with after tax returns that meet their objectives must address such tax structures.
Against the above background, and recognising that clients are best served by experienced investment management skills, we can offer introductions to accredited operators known to us. The value of our involvement is in co-ordinating their efforts with our wider view of our client’s international business operations.
Family Advocate Services
Our experience with international clients includes some very special support to families related to UK schooling at all levels, immigration and residency issues.
Our family advocate services are available exclusively to our clients as an additional feature of our support package to their business and other interests. Family services are not provided in isolation.