UBS Urges Ultra High Net Worth Families to Develop Strategic Plan for Transfer of Wealth
April 25 2017 - 12:52PM
Business Wire
Established markets facing biggest ever wealth
transfer
Asia’s share of single family offices stands at just 17
percent
UBS, the world's largest wealth manager, today announces the
launch of the Family Office Compass, a strategic toolkit to help
ultra high net worth families flourish across generations.
The Family Office Compass addresses one of the key findings of
the Global Family Office Report 2016: Nearly 70 percent of family
offices expect a generational transition within the next 15 years,
yet just 37 percent of them believe that the next generation want
to play a more prominent role in managing their family's affairs.
This reluctance is often not due to a lack of interest or aptitude,
but rather an inability to identify ways to participate that suit
their personal interests and life trajectories. For many families,
placing trust in potential successors can be a challenge. Family
offices can find it equally demanding to maintain relevance with
the younger generation. The Family Office Compass is designed to
help overcome these potential obstacles, so that generational
transition is a success and family wealth continues to grow
multi-generationally.
The Family Office Compass, developed in conjunction with the
Cambridge Institute for Family Enterprise, not only guides families
in how to set up a state-of-the-art family office, but also offers
them a perspective on the strategic role of a family office beyond
traditional and short-term wealth management. It demonstrates how a
family office can guide the family from generation to generation,
ensuring that members stay unified and preserve and grow its
wealth.
Meanwhile, new research by Campden Wealth shows that the global
population of single family offices (SFOs) today is 5,300. Over 75
percent of these are located in either Europe or North America,
while another 17 percent are in Asia Pacific and over 8 percent in
emerging markets. These single family offices cater to individuals
with USD100 million or more in investable assets.
According to Campden’s estimates, 740 family offices globally
are owned by ultra high net worth individuals with assets under
management of USD1 billion or more in investable wealth. Of these,
30 percent are based in Europe, 36 percent in North America, 24
percent in Asia Pacific and 10 percent in emerging markets. The
UBS/PwC Billionaires Report (2016) found that there are 1,397
billionaires across North America, Europe and Asia Pacific. Based
on this number and our estimate of billionaire family offices per
region, we can calculate that 65 percent of European billionaires
have a family office, compared with 50 percent of those based in
North America and 34 percent in Asia Pacific.
John Mathews, Head of Private Wealth Management and Ultra High
Net Worth, UBS, Wealth Management Americas said: “It is crucial for
families wanting to create lasting financial success to identify
their driving purpose and to formulate an overall family strategy.
Clarity of purpose for the family, and in turn, the family office
leads to improved performance of the family office over time and
increased usefulness to the family. This compass offers us a
detailed road map for a family office to succeed and survive over
generations.”
Notes to Editors
About UBS
UBS is committed to providing private, institutional and
corporate clients worldwide, as well as retail clients in
Switzerland, with superior financial advice and solutions, while
generating attractive and sustainable returns for shareholders. Its
strategy centers on its Wealth Management and Wealth Management
Americas businesses and its leading universal bank in Switzerland,
complemented by its Asset Management business and its Investment
Bank. These businesses share three key characteristics: they
benefit from a strong competitive position in their targeted
markets, are capital-efficient, and offer a superior structural
growth and profitability outlook. UBS's strategy builds on the
strengths of all of its businesses and focuses its efforts on areas
in which it excels, while seeking to capitalize on the compelling
growth prospects in the businesses and regions in which it
operates. Capital strength is the foundation of its success.
Wealthy clients seek professionals who understand their unique
challenges, passions and ambitions. Due to UBS's long experience of
working with the most sophisticated ultra high net worth clients
globally, we have developed a unique understanding of their
mindset, motivations and core values. We join forces with them to
create bespoke solutions which are bold, innovative and tailored
precisely to their individual needs. The four dimensions of Great
Wealth – business, investments, passion, and legacy – form the
basis on which we open a dialogue and begin a partnership with our
clients across generations for generations, so that Great Wealth
endures.
About UBS Wealth Management Americas
Wealth Management Americas is one of the leading wealth managers
in the Americas in terms of financial advisor productivity and
invested assets. Its business includes UBS’s domestic US and
Canadian wealth management businesses, as well as international
business booked in the US. It provides a fully integrated set of
wealth management solutions designed to address the needs of ultra
high net worth and high net worth clients.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170425006430/en/
MediaUBS Wealth Management AmericasMaya Dillon, +1
212-713-3130mdillon@ubs.comorHeadland ConsultancyDel Jones,
+44-20-3805 4860djones@headlandconsultancy.comOliver Tilley,
+44-20-3805 4836otilley@headlandconsultancy.comDanny Calogero,
+44-20-3805 4849dcalogero@headlandconsultancy.comMartin Robinson,
+44-20-3805 4828mrobinson@headlandconsultancy.comorUBS Group
AGSwitzerland: +41-44-234 85 00UK: +44-207-568 99 82Americas:
+1-212-882 58 57APAC: +852-297-1 82 00www.ubs.com
UBS (NYSE:UBS)
Historical Stock Chart
From Feb 2024 to Mar 2024
UBS (NYSE:UBS)
Historical Stock Chart
From Mar 2023 to Mar 2024