Future of family offices , wealth management and philanthropy - Conference keynote speaker

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http://www.globalchange.com Future of private banking clients and wealth management for ultra high net worth individuals. Fund management, investment banking, asset creation and fund growth. Portfolio management and managing risk in balanced distribution of assets. Customer expectations of High rates of return in a low interest environment. Key economic trends impact on private banking clients and wealth management strategies. Succession planning and how to run family offices. Specialist wealth advisors and independent financial advisors, end of commissions and shift to fee-based advice, changing regulations and fee structures. Philanthropy and philanthropic advisory services. Why charitable activities are so important to high net worth families and why most want their own charity foundations. Making a difference, proving added value and real social impact, Applying business principles and measurable outcomes to philanthropy. Venture philanthropy and social entrepreneurs. Making philanthropy work in a disciplined way with formal evaluation and monitoring. Financial disciplines and specialist advisory teams

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Future of family offices , wealth management and philanthropy - Conference keynote speaker

  1. 1. Family Offices and PhilanthropyDr Patrick Dixon Chairman Global Change Ltd
  2. 2. Patrick Dixon is Chairman of Global Change Ltd, Author of 15 books and has been ranked one of the 20 most influential business thinkers alive today (Thinkers 50) Future of family offices , wealth management and philanthropy (2008) 500 videos of keynotes www.youtube.com/user/pjvdixon Over 4 million views Dixon’s Futurist Website www.globalchange.com/ 14 million unique visitors.
  3. 3. High Net Worth• 2,617,400 in EU with spare assets of >EU1m – 200,000 in India growing 22%pa• 9.5m globally• 95,000 own > $30m• Poorly served (integration)• More than concierge
  4. 4. Wild Cards: Risk ManagementLow probability, high impact events
  5. 5. Wild Cards: Risk ManagementLow probability, high impact events
  6. 6. Future of Iran nuclear programme
  7. 7. Military Challenges in• Towns, cities, forests, jungle, mountains, valleys
  8. 8. 10% Cleveland homes repossessed 1 in 146 homes new action in Nevada – Las Vegas 744,000 homeless in July 2008 Bus Tour
  9. 9. Absurd Valuations• “Unknown trillions of dollars being traded in non-regulated derivatives” US govt• Marking to current value• Washington Mutual sold for $1.9bn – But has $310bn of “assets”
  10. 10. The Future is about Emotion
  11. 11. 75% of all US and UK wealth owned by those over 65
  12. 12. 1 millionvoters over90 years old in Italy by 2026
  13. 13. Family Offices - TRUST• 28,500 ultra-high net worth individuals in Europe• Wealth totals $3.3 trillion.• Potential revenue pool of $16–20bn• Growing at 6% a year• 1,920 multi-family offices in Europe – 45% of the family office market.• Russians v Middle East v the rest
  14. 14. Tribal Positive Tribalism = TRUSTPeople need to belongSense of identityCommunityLanguageFamilyForeign nationals
  15. 15. GlobalFastUniversal 24 hour “expert friend”respond instantly to every event – legal – family support – schools – property – finance travel – staff – mentor – family issues – for a lifetime Part of Relationship
  16. 16. Ethical Crisis of Purpose at Work • 90% of 30-40 year olds want to leave conventional business jobs • 60% of 25-35 year olds feel unfulfilled in careers • 83% say they are having a “quarter-life crisis” • 90% are looking for a higher purpose at work • 59% say they seen no meaningful purpose in their work or organisation Connect with passion to win war for talent
  17. 17. Ethics Companies talk about • Growth • Profits • Shareholder value ( + customers…)
  18. 18. Ethics Individuals talk about… • Their own personal needs • Their family and friends • Their community • The world they live in …emotion
  19. 19. Making a Difference
  20. 20. HNW Philanthropy• 67% of US citizens give to Charity• 97% of high net worth individuals• >30% would give more if had more info• >30% would like to be actively involved• 78% worry about admin costs• 58% want proof of impact
  21. 21. Growth in Philanthropic Advisory Services New Clients Potential£10m in revenues / 15yrs / client
  22. 22. Ultimate slogan for high net worths • For individuals – your own needs • For family – people close to you • For community – neighbourhood or nation • For the whole earth – the good of all Urgent need for Integrated Approach Telling your own stories – firm /people
  23. 23. Patrick Dixon is Chairman of Global Change Ltd, Author of 15 books and has been ranked one of the 20 most influential business thinkers alive today (Thinkers 50) Future of family offices , wealth management and philanthropy (2008) 500 videos of keynotes www.youtube.com/user/pjvdixon Over 4 million views Dixon’s Futurist Website www.globalchange.com/ 14 million unique visitors.

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