Leveling off is occurring now.
The characteristics of billionaires is the ability to take risk, to have the tenacity to keep going and the ability to scale up or grow the business. If they do not have the skill to grow the business, to be able to partner with someone who can grow their enterprise.
Legacy is important.
Over two thirds of billionaires are over 60.
Without clear and sensible governance, wealth can dilute rapidly. These wealthy individuals seek out wealth experts from the world's largest and longest run financial institutions. Planning and structuring are critical and it is a specialized expertise.
Some billionaires are setting up family offices which are like private equity organizations in how they run their investments. Again, these use the platforms of large global banks in order to achieve a truly diversified portfolio.
Philanthropy is very important
Over 100 billionaires have pledged half of their wealth to philanthropic causes. Again, true wealth management has a deep expertise in the philanthropy of their clients which can pass along the lessons to the next generation.
|Jacoline Loewen, Toronto|
For more information, contact Jacoline Loewen.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Securities and Advisory services offered through a Registered Investment Advisor.