Philip Marcovici

Essential Reads on Family Offices is your essential resource featuring insights from the world’s foremost experts on the most pressing topics facing family offices and their advisers today. Containing a collection of authoritative materials dedicated to providing family offices and their advisers with the most informative and thought-provoking contributions on key themes, the content focuses on: • Family office profiles: profiles of leading family offices from around the world, highlighting their unique structures, strategies and values. • Governance: best practices for developing and implementing effective governance structures and processes for family offices. • NextGen planning: expert insights on how to prepare the next generation of family members and manage the family’s wealth and legacy. Family offices have complex and unique needs, and Globe Law and Business is committed to providing family offices and their advisers with the resources they need to thrive. Contributions have been carefully curated from the prestigious archive of The International Family Offices Journal, co-published with STEP, and the Special Report, Family Business and Responsible Wealth Ownership in order to provide you with the core knowledge needed to manage a family’s wealth, relationships and legacy for generations to come.

"For wealth and business owning families and their advisers, this is the ultimate guide to getting it right." David Chong, Group President, Portcullis (Singapore) Pte. Ltd., described by the Singapore Academy of Law as The Guru of Asian Family Offices "Building on his previous work, The Transformative Power of Family Wealth is packed with insight and offers wealth owners powerful tools for channeling their resources into a force for good. Must reading not only for those stewards of family wealth, but for all those striving to serve them." Amaury Jordan, CFA, co-founder of Avalor Investment (Switzerland) and TriLake Partners (Singapore) "Philip’s book is a very worthwhile read for those who work with wealthy families. In particular, the paradigm of the Theory of Change as a mechanism to help to shape a succession planning strategy is fascinating. It is also refreshing to read a positive exposition of the role that private businesses can play in regenerating society." John Riches, Partner RMW Law and President of the International Academy of Estate and Trust Lawyers "With his extensive experience and deep insights, Philip’s latest book is required reading, not only for wealthy families and their advisors, but also for policy makers and thinkers as they ponder the role of wealthy families in tomorrow’s world." Edmund Leow S. C., Senior Partner, Dentons Rodyk & Davidson LLP, Singapore A manual for avoiding the common pitfalls of family wealth and businesses with a focus on how families can prosper while governments capture the benefits of wealth owning residents and citizens In The Transformative Power of Family Wealth, retired lawyer, wealth advisor, and tax consultant Philip Marcovici delivers a startlingly insightful and practical discussion of how family wealth and business owners can navigate internal and external challenges and have a positive and benevolent impact on the communities around them. For governments navigating the challenges and benefits of attracting and retaining wealth owners to their countries, an invaluable resource. The book explains how to handle the difficulties associated with generational succession, family infighting, growing societal inequality, and complex taxation regimes. It walks you through: How to retain and grow your family's wealth through generations so you can continue to have a positive impact on the worldHow to handle internal family “derailing” events, like divorce, mental illness, fraud, and moreStrategies for mitigating political risk for family-run businesses with international exposure and investmentsApproaches for governments to consider, including the adoption of regenerative tax systems that capture opportunities to create vibrant economies that address growing wealth and income inequality Perfect for owners of family-run businesses and families with wealth, as well as the professionals, advisors, and consultants who work with them, The Transformative Power of Family Wealth is a must-read for lawyers, accountants, policymakers, legislators, regulators, journalists, and anyone else with an interest in improving their understanding of the issues affecting family wealth.

Wealth owners are responsible for more than just assets The Destructive Power of Family Wealth offers thoughtful, holistic planning to ensure that your wealth remains a positive force for your family. While today's families have become global and the world has become smaller and more mobile, we have not yet become immune to the problems wealth poses to the family unit. This book provides authoritative guidance on family wealth management, with an emphasis on both family and wealth. Global taxation regimes, changing bank secrecy laws, asset protection and other critical issues are examined in depth to assist wealth owners in planning, and the discussion includes details on the essential tools that aid in the execution of any wealth management strategy. More than a simple financial planning guide, this book also delves into the psychology of wealth, and the effect it has on different family members; wealth destroys families every day, and smart management means maintaining the health of the family as much as it means maintaining and expanding wealth. Family wealth brings advantages, but it also carries a potential for destruction. Wealth owners have a responsibility to their families and to themselves, and this book provides the critical guidance you need to get it right, whether you are part of a wealth-owning family or are an advisor to wealth-owning families. Learn how careful planning can prevent family strifeProtect assets from risks ranging from divorce to political upheavalExplore the many tools that facilitate secure wealth managementDiscover how changing global regulations affect wealthUnderstand how private banks and other advisors workUncover challenges faced by the wealth management industryFind out how to work with advisors and to manage costs while ensuring efficient and effective outcomes Families at all levels of wealth are vulnerable to shifting economic climates, evolving regulatory issues, asset threats and more. Any amount of wealth is enough to shatter a family, but deeply intentional planning based on thoughtful consideration is the key to keeping destructive forces at bay. The Destructive Power of Family Wealth provides expert guidance and a fresh perspective to help you maintain both family and wealth. For those in the wealth management industry and for other advisors to wealth-owning families, The Destructive Power of Family Wealth contains insight on the needs of today's wealth-owning families, ways in which the tools of wealth planning address those needs and guidance on what it takes to be a successful, trusted family advisor.