The 2018 U.S. Trust Insights on Wealth and Worth® study asked nearly one thousand high-net-worth individuals about their approach to building wealth and the extent to which they are using it to achieve their goals and support the causes they care about most. The study found that while wealth provides the freedom to do more, it also brings increased obligations, expectations and demands.
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It is often thought that financial success comes with a certain level of financial freedom: the freedom to pursue passions, to take risks, to give back, and to make an even bigger impact. In the 2018 U.S. Trust Insights on Wealth and Worth® survey, the results revealed that only half of high-net-worth individuals have a plan to optimize the opportunities their wealth provides.
The acceleration of technological innovations and the challenges associated with adapting to them seem to point toward a tumultuous future. That future appears to be approaching faster than ever. Companies are finding it harder to maintain their positions in industries that are increasingly subject to disruption. And while investors may not be able to pinpoint precisely which companies or industries will lead the disruption—or fall victim to it—they should do what they can to plan to take advantage of these opportunities when they arise.
The 5th edition of the Social Divide index reveals that FTSE 100 companies are sharing more and better financial results-related posts on social media, assembling the right mix of social ingredients to achieve significantly higher levels of engagement than ever before. Indeed, in a clear indication of increasing stakeholder appetite for receiving results-related communication via social media channels, there was a 105% increase in interactions with results content in comparison to 2015.
Legal developments in digital currencies, including bitcoin, emerge almost on a daily basis across the global landscape. While in Argentina virtual currencies are not legal tender under the country’s National Constitution, in Croatia there are informal statements by the Croatian National Bank that look favorably on the legality of bitcoin. In Estonia, bitcoin income is treated as capital gains, and in Australia, virtual currency transactions are subject to goods and services taxes.
Seventy-seven percent of employees want voluntary benefits. But with so many options available in today's market, it's crucial to choose the right benefits, based on your employees' demographics, claims history, and expressed wants and needs. A good place to start is to know the trending voluntary benefits and when top employers are offering them.
The enterprise-wide accounting and finance platforms that other industries employ have not historically satisfied the unique information and reporting requirements of private wealth management firms and family offices. Fortunately, material advances in investment accounting technology, as well as fresh ideas around accounting best practices have emerged in recent years to help address these issues.
The 2018 Family Office Compensation and Benefits Report is designed to aid family office board members and executives in their review of the office’s compensation plan. The report highlights the key areas of family office compensation and benefits while providing you with invaluable perspective on your office’s plan relative to your peers.
As the COVID-19 vaccine becomes a larger part of the national conversation, employers will need to assess and/or develop a vaccination policy and plan. Employer-driven vaccination programs require a thorough understanding of employment law, compliance, employee well-being and education. This e-book covers employment law considerations and explains the specific limitations that pertain to requiring employees to be vaccinated.
We are in a period of extraordinary wealth creation and accumulation that is driving the need for more family offices and expanding the breadth and depth of services that support the important work and collective well-being of the family. It's about the sustainability of the family office and preparing it for the long run. With the future of the family office in mind, see how you can build a best practice family office and evaluate your current office operations.