An advisory firm has launched a service that it claims is a world first for UHNW global families. US-based Lowenhaupt Global Advisors has unveiled a nine-member Global Council comprised of professionals who have extensive experience advising families of substantial wealth and are recognised as being among the most respected advisors in the US, Europe, Asia and Australia.
"Families from around the world have asked us to offer our unique brand of unconflicted, customised advice that has worked so well in the US," said chairman, CEO and president Charles Lowenhaupt. "To meet the increasingly global needs of families, it's critical to engage trusted advisors in their countries or jurisdictions and who appreciate the challenges the modern world places on family offices."
The council will help families to design, operate and coordinate all aspects of wealth management, as well as supporting them as they address challenges such as: succession within the family group and succession of trusted advisors; multi-currency investing; measuring performance; cross-national ownership; relevant governance structures; and resourcing unconflicted advice.
"Today, even a predominantly US family is global," said Lowenhaupt. "Family members live overseas; a family invests overseas; family members travel overseas; best practices are now global; and even philanthropy has turned global."