Women have become financial powerhouses. That much is certain. They have taken on an increasing role in managing wealth to the tune of $11.2 trillion. Some estimate that by 2030, women will control as much as two-thirds of the nation’s wealth.
Single family offices are increasingly faced with the topic of succession whether triggered by an upcoming departure of a family office executive or a broader transition in generational family leadership.
PwC Private Company Services and UBS Wealth Management
Monday, October 17, 2016
The past 20 years’ exceptional wealth creation will soon be followed by the biggest-ever wealth transfer. It is estimated that fewer than 500 people will hand over USD 2.1 trillion to their heirs over the next 20 years.
Finding your voice as an adult is a difficult process for everyone, but can be especially challenging when you grow up in a family of wealth. Perhaps you already control some or all of your inheritance or maybe you soon will.
Strategic philanthropy is similar to intentional asset allocation in that it requires as much of the giver’s intellect as it does the bank account. A careful and disciplined approach to philanthropic giving combines purpose, practicality, and passion.
The topic of wealth transfer to the next generation has been well documented. Accenture estimated that $30 trillion of financial and nonfinancial assets are ready to shift from baby boomers to their children in North America alone.
While many families are expending effort on important concepts such as improving financial literacy, defining family shared values, and creating family mission statements, such efforts are likely to be lost if families do not first focus on one fundamental aspect of a successful family: Communica