Why choose Family Office Advisory Service with SG Family Office ?
The Secret of Inheritance
Since the reform and opening up in China ,countless new rich have risen in the giant of the times. Data show that in the past decade, there are about 105000 ultra-high net worth families in China. Most of these super rich people have reached the age of choosing successors, and the intergenerational career is imminent. How to maintain and appreciate the value of property and realize the evergreen of family business is the primary problem.
Tools for Wealth: The Art of Passing Down Wealth Among High Net Worth Families
Taking the example of the Western world, where wealth succession has a long history, many ultra-high-net-worth families have successfully passed on their family assets to the next generation through a comprehensive approach that incorporates various tools such as insurance, trusts, and stocks. Utilizing wealth tools can bring many benefits to family succession, and I have some personal experience in this regard.
Why was SG Family Office President Club established?
During my work, I had the opportunity to meet a Singaporean real estate tycoon who had been married twice and had ten children. Perhaps due to his traditional thinking, he always refused to use trusts. In the end, I witnessed the family's struggle for inheritance, and what was even more regrettable was that the old man passed away on his sickbed without the visit of his children, and the family assets were divided into fragments. If he had chosen to use trusts at that time, I think the story might have had a completely different outcome.
On the other hand, the legendary Hong Kong tycoon, the Hui family, has been steadily passed down to the third generation since Ship King Hui Yip-choi, thanks to the wisdom of wealth management. Hui Shih-huen clearly knew that the family was not prosperous, and after his eldest son passed away, his only son Hui Chun-hang was unable to inherit the family business. Before he passed away, he transferred his wealth of over 40 billion to the family trust fund, and Hui Chun-hang and Carina Lau could only withdraw a monthly living allowance of 2 million from it. This safe and brilliant arrangement not only avoided the descendants' reckless spending, but also allowed them to benefit from the family's assets and maintain a decent lifestyle without much effort.
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Zhang Yong's wife sets up family office in Singapore
to manage $7.7 billion in assets
According to reports, the wife of Zhang Yong, the founder of the popular restaurant chain Haidilao and Singapore's richest man, set up a family office in Singapore in 2019 to manage $7.7 billion in assets.
Bridgewater Associates founder
establishing a family office for the first time in Asia
According to Bloomberg's report last year, the family office will be based in Singapore and will manage Dalio's investments and philanthropic activities in Asia. A spokesperson for Bridgewater Associates said in a statement that Dalio has been following China and Singapore closely for the past 30 years and believes that now is the best time to establish a family office in Singapore.
Family offices, a new choice for the Billionaires
Billionaires often have a sense of "crisis" when it comes to wealth. Firstly, they often start from scratch, overcoming countless obstacles in the entrepreneurial stage before achieving their current success. Secondly, they value opportunities that cannot be replicated by time.
An increasing number of billionaires have started using various wealth management tools to properly manage their assets. Family offices, which can bring together a variety of wealth management tools and offer more diverse services, seem to be their ultimate destination. Forbes data from 2020 shows that almost half of the $9 trillion in assets held by billionaires globally are managed by family offices. So what exactly is a family office and how can it help billionaires safely navigate economic cycles?
Singapore emerges as a new hub for family offices
In recent years, family offices in the Asia-Pacific region and emerging markets have shown the strongest global investment performance. According to data, there are more than 1,300 family offices in the Asia-Pacific region out of 7,300 globally, with growth rates surpassing those of Europe and America.
Increasingly, global wealthy families are also transferring their wealth to Singapore, establishing professional family offices to help them solve issues related to family governance and wealth inheritance.
