Setting up a single family office is expensive, but fairly straightforward. Building and maintaining a successful one that’s cohesive, transparent and forward looking, however, is difficult.
Posts Tagged: Private Wealth
Investing in early startups poses inherent risks. So as a first time angel investor, what do you need to consider in order to mitigate these?
There are two structures commonly used to facilitate philanthropic giving: a private ancillary fund (PAF) and a private charitable trust.
Stricter lending standards have been a common theme imposed upon Australia’s big four banks. A fear that a large number of new apartment buyers may not be able to settle on purchases made off the plan has led to the tightening of loan-to-value ratio requirements.
Regardless of size or generation a family business is in, they face challenges. No family business is more or less complicated than the next; the true indicator of their success is how they work through their challenges.
“If time is on your side, then having conversations within the family are an important aspect of making long-term plans.”
‘Family councils are one of the most powerful and engaging tools for families to come together in a round table style to consider and communicate financial, social, intellectual, spiritual and human capital.’
“The next generation need to be helped and supported. Issues can be minimised by putting proper structures in place and educating kids along the way. It is also good to try to assist the next generation make decisions and connect to industry support, such as coaching and mentoring to minimise potential mistakes.”