There are significant changes in the taxation of non-UK domiciled individuals. This question-and-answer document from KPMG LLP provides a quick overview of these changes as well as the impact on those affected.
Companies that manage their people, or talent, successfully are in good position to weather volatile times and emerge in better shape than ever. Deloitte offers suggestions beyond downsizing to align short-term budget-trimming needs with companies' long-term personnel strategies and overall business objectives.
The tremendous surge in wealth has made it more challenging to establish a sustainable and successful family office, as revealed in the 2023 FOX Family Office Benchmarking Study. However, this research brief shows that a sustainable family office can be within reach when there is thoughtful planning that incorporates three key ingredients...
There are many resources and games available for teaching children about different aspects of managing money, investing, and philanthropy. Starting financial literacy education with children and teens will be more successful when you make the activity fun, connected to their life stage and related to current interests. This includes gamifying learn...
For family offices of all profiles—large and small, established and brand new—there are dozens of technology solutions available. In the first of the Family Office Series report, the focus is on technology, a topic that some families find daunting and neglect at their own risk. To simplify the landscape, the report identifies key reason...
Most family offices that serve U.S. families are well aware that special planning considerations can arise when a U.S. citizen family member marries a noncitizen. Should the client’s estate plan be revised to incorporate a qualified domestic trust (QDOT) to ensure that assets passing to the surviving noncitizen spouse qualify for federal esta...
The new revenue recognition standard—set to go into effect in 2018 for public entities and 2019 for nonpublic entities—has been and continues to be a hot topic during our conversations with clients. Unlike most other accounting changes, the new standard will influence organizations not just at the financial-statement level, but also at ...
When former First Lady Nancy Reagan passed away in March 2016, millions of Americans mourned the loss. While the events honoring Mrs. Reagan unfurled seamlessly, a dedicated team was hard at work behind the scenes to ensure the funeral was being conducted to Mrs. Reagan’s expressed desires. The preparations and demands of the funeral may...
Purchasing a wealth management technology solution is a significant business decision for your firm. You have likely been tasked with sourcing a platform that meets the needs of your principals, your team and your stakeholders. The solution should support your internal accounting, investment management and reporting functions while streamlining you...
The wealth management industry is constantly reinventing itself, and with every passing year, firms continue to push software vendors to deliver features and functionality that not only enhance their existing solution but offer an unparalleled experience. It is often difficult to know which innovations are relevant and which are not. Having a guide...
The holidays are approaching and to make it a more relaxed and enjoyable season, it helps to plan in advance and know the best practices for holiday planning, entertaining, gift giving, entertaining, and decorating.
Business impersonation scams are a large and growing risk for high-net-worth individuals, closely held business owners, and institutions. Scams have claimed victims in all 50 states and more than 100 countries and there is every reason to believe the threat is growing. Learn seven steps that can help you protect yourself and your business from impe...
Addiction concerns in family businesses raise unique and complex challenges for the advisor, family office and corporate leadership. This article provides an overview of the many policy and procedural issues all stakeholders face when it comes to addressing substance use, with an emphasis on family held entities.Some of the topics include:Incidence...
In 2013, the International Consortium of Investigative Journalists (ICIJ), a nonprofit group of reporters, shattered the long-held view that offshore bank secrecy was impenetrable. The group had received massive leaks detailing individual offshore bank accounts, which they shared with the public on their website. This was the first of hundreds...
This report documents how the family office has fast emerged as a viable structure from which to manage the assets of wealthy families in Asia. The rapid growth of the UHNWI population in the region and the tax-friendly environment and robust capability provided in regional financial hubs suggest a further expansion of the industry in years to come...