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Family Wealth Series: The joy and danger of family wealth

When: Thursday 18 May 2023Time: 10:00 - 11:30 BST

Substantial wealth can bring both joy and danger to a family. Whilst wealth provides the resources and opportunities that enhance the quality of life for family members and future generations, it can also expose tensions and conflicts, both within and between generations. Add to this diverse individual aspirations and the result is often family fragmentation and wealth depletion.

In this event we will share our experience in helping families navigate these challenges:

  • Robbie Cowan will discuss the importance for families to identify shared values and common purpose, and to understand the different roles that they may play for example as family members, as shareholders and/or executives in the family business. He will illustrate the importance of building a ‘social contract’ and agreeing the ‘soft rules’ and governance frameworks that a family can incept to promote transparency, accountability, and fairness. 

  • Alistair Morgan will focus on the positive role the Family Office can play in the life of the family. In the Singapore context, most family offices have been structured to take advantage of one of the fund tax incentive schemes available. Post-establishment, how should a family office be configured and run to manage the family's wealth and affairs effectively? He will outline the stepping stones to building out and managing a family office, with the oversight and internal governance frameworks necessary to provide accurate reporting and to ensure compliance within an increasingly complex regulatory and tax environment.

Through a discussion of the key issues, you will see how taking a proactive approach in regard to how the family works together and how their affairs are properly managed mitigates the risk associated with significant wealth and optimises the possibility for the successful transfer of family values and wealth to future generations.

Registration has now closed.

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