In Australia, wealth is predominantly first generation, so peoples focus has really been on ‘how do I make the money’ which means they tend to sit on significant amounts of cash. Once your wealth gets past $10m it becomes more generational. That amount of money will last well beyond your lifetime so you have to be considerate and thoughtful about how to pass it on to the next generation.
How wealth is passed between generations depends on the nature of the family. Perhaps you’re dealing with a first and second spouse or good and bad children and the wealth needs to be protected from litigants and external factors.
When it comes to providing complex strategic advice IPS likes to use a team approach with each team member directly involved in their client relationships.
Indices:
The All Ordinaries Index has moved down over the past week decreasing 6 points (or -0.1%) since closing last Friday to 03:20 pm this Friday.
The rest of the world as measured by the MSCI index is up 12 points (or +0.9%) from closing last Friday to end of trade Thursday.
No comments:
Post a Comment