In the family – How high net worth families manage their wealth

In these videos experts from Smith & Williamson discuss how high net worth families manage their money. Meetings may not all be done in a board room particularly when involving younger generations, but there is a lot to keep track of. How many external advisors should be involved? What services are needed? Is it necessary to have a family office? High net worth families may want to preserve their wealth for future generations, whether this be by custom, or a new success that they want to pass on. Not all families will take the same approach. Either way it is useful to take a fresh look at the family’s wealth and how it is structured, so that they can understand their financial position.

    01

    Informed financial planning for wealthy families

    Charles Gowlland

    Charles Gowlland

    Charles Gowlland, Partner, Smith & Williamson Investment Management LLP

    Informed financial planning within wealthy families involves having good advisors and passing on knowledge early. In this TV show Charles Gowlland gives his advice for managing familial wealth.
    02

    High net worth families face wealth transfer decisions

    Charles Gowlland

    Charles Gowlland

    Charles Gowlland, Partner, Smith & Williamson Investment Management LLP

    High net worth families will have to make the decision of when is the best time to involve the younger generations and transfer wealth to them, as Charles Gowlland discusses in this TV show.
    03

    Personal planning and conflict resolution in family business

    Charles Gowlland

    Charles Gowlland

    Charles Gowlland, Partner, Smith & Williamson Investment Management LLP

    Personal planning to resolve personal issues is the common approach by high net worth families. In this TV show Charles Gowlland discusses the frequency & nature of family conflict.
    04

    When is a family office justified?

    Frank Akers-Douglas

    Frank Akers-Douglas

    Partner - Private Client Tax Services, Smith & Williamson

    Frank Akers-Douglas:  “We’re of the view that you may be incredibly wealthy but you need probably more than £400 million to your name and your family’s name to really warrant establishing [...]
    05

    The Blue Book: your net worth in one place

    Frank Akers-Douglas

    Frank Akers-Douglas

    Partner - Private Client Tax Services, Smith & Williamson

    Frank Akers-Douglas: “The Blue Book is called the Blue Book because it originally had a blue cover, it doesn’t anymore.  But it is essentially a financial summary of your and your family’s [...]
    06

    An alternative to a family office

    Frank Akers-Douglas

    Frank Akers-Douglas

    Partner - Private Client Tax Services, Smith & Williamson

    Frank Akers-Douglas:  “Like high net worth individual, it depends, it means different things to different people.  To Americans it largely means the investment management process for a [...]