Business Owners and Affluent Families

Affluent families and business owners are often perceived to have “made it” and to have financial security. However, in many cases the complex nature of family relationships and business structures can lead to poor outcomes.

In addition, the significant demands required to run a business often leaves limited time for managing personal and family financial affairs. As a result affluent family groups and business owners face numerous challenges because they:

– Don’t have an overarching family wealth management strategy connected to all family stake holders

– Have a patch work of technical advisers without having one trusted adviser, acting as their Trusted Wealth Adviser

– Don’t have a comprehensive succession plan that encapsulates all the families wealth, including, passive family assets and personal assets

– Have a high concentration of assets in a business or multiple businesses

– Struggle to come to grips with complex financial & investment arrangements and how to maximise outcomes