Family Offices

Recent developments in Hong Kong have created broader instability, which has caused HNWI and wealthy families to diversify their risks and spread their wealth to other locations.
Singapore being the main one.

In Asia, there is this belief that wealth will not pass three generations.
For Europeans UHNW, there’s wealth longevity.

● In the US the penetration rate is actually 40% In Europe, it’s about 15-17% but in Asia it’s 3-5% and on the rise

● UHNWI seek wider diversification of their investments and prepare for succession within their family business

Family offices can help families navigate diverse holdings and advice from a team of professionals, incentivised by tax breaks or residency options.

A family office alleviates the responsibilities of managing the family assets and other necessities from the family, enabling them to concentrate on the needs of the business.

● Hold and concentrate ownership of diversified assets

● A framework which family members can be decision makers

● Can hire and manage by a professional team

● Centralised reporting and fund management

● A Forum to voice out family issues and family members as committee members
and establishment of Family constitution

● It also offers better control, privacy and confidentiality