Family Office

Managing your wealth through the generations

Private Wealth Updates

Family Office Services – an overview

Founded in 2001, Private Wealth Advisers has become the preferred Family Office Service provider to an exclusive number of family office clients.

Managing family money brings with it a great deal of responsibility – both in terms of investment management and ensuring the successful transition of wealth to future generations. At PWA we work closely with families to establish, implement and manage appropriate investment strategies for intergenerational wealth protection and wealth transition, enabling family office clients to achieve their wider family objectives as well as meet any philanthropic goals.

PWA’s Family Office Service ensures that all of the family’s advisers, legal, accounting, investment and other specialist advisory services are all aligned to meet the family’s longer term objectives. Our services include assistance with administration, governance, and reporting, and of course our own investment management expertise.

Family Office Services – the issue for many

New Zealand has one of the highest levels of entrepreneurship, on a per capita basis in the OECD, sitting well above the global average, and unsurprisingly business owners have traditionally had much of their family wealth incorporated within the businesses they own.

Now as the early members of the baby boomer generation approach 70 years of age, many of this group need to consider ways to liquidate capital from their family businesses and develop plans for the intergenerational transfer of family wealth.

Surprisingly whilst a high number of business owners regard succession as an important issue (82%), only 25% have sought professional advice, with less than a quarter of that group admitting that they actually have a documented plan. Reality shows that fewer than 2% are in fact ready to face a basic succession issue such as ill health, untimely death / major trauma, let alone a planned exit from the business.

The burden of managing family wealth is being increasingly passed to younger family members who have the responsibility to ensure that this wealth is preserved for future generations.

The Private Wealth Advisers team have a depth of experience and extensive networks, within some of New Zealand’s leading legal and accounting firms, which can collectively work alongside families to develop and implement tailored intergenerational wealth plans.