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Following an extended period of global wealth creation, there are far more people today with greater fortunes than ever before. For those who have seen their wealth grow, the process of managing finances across multiple asset classes, legal frameworks and countries is becoming evermore complex. As a result, wealthy families are increasingly turning to family offices to manage their needs, be it in real estate, succession, governance, or even lifestyle.

But, today, as the economic situation continues to affect all of our finances, and the greatest intergenerational wealth transfer in history approaches, many high-net-worth families are taking action now to preserve their wealth for generations to come. So what exactly are family offices, why are they beneficial and what does their work actually involve?

In this episode of Wealth Insights, Guy Simonius, Head of Family Office Services, and Phil Griffiths, Head of Wealth Structuring, explore how the use of external advisors such as family offices helps define the vision for a family’s wealth, and achieve their aims. They also discuss changes in the financial focuses of high-net-worth families, the consequences of the impending great wealth transfer and how a globalised world can pose difficulties for global families. 

To hear more on Guy and Phil’s discussion, listen to the full episode using the player above.