Wealthy individuals and families have increased insurance cover for high end art assets, and are spending more time actively managing their collections, as works at the high end of the market have soared in value over the past two years, according to the Stonehage Group.
More ultra-high-net-worth (UHNW) families now have ‘written constitutions’ to govern decision-making as the financial crisis highlights the potential for family disputes over risk management strategies, according to the Stonehage Group, a European multi-family office.
European multi-family office for ultra-high-net-worth families Stonehage Group has appointed David McLellan as executive director and head of their London Family Office.
The Stonehage Group, a London-based European multi family office (MFO), says ultra high net worth clients are piling into US property as returns in certain sectors have reached highs of 40% over the past year.
A life of luxury in Switzerland has become more expensive despite many high-end retailers cutting prices to tempt the wealthy back from shopping abroad, according to the Stonehage Group, the leading European multi-family office for ultra-high-net-worth families and entrepreneurs.
Investors attracted to Japanese Government Bonds (JGBs) should think twice before investing due to the risk of a price deterioration in the coming years, warns the Stonehage Group, the multi-family office for ultra-high-net-worth families and entrepreneurs.
London-based multi-family office Stonehage is pushing further into Continental Europe with the opening of an office in Luxembourg, based on the growth of Corporate Services business, and the hiring in Zurich of Richard Baldock, former executive vice-chairman of Rothschild Trust in Zürich, as executive director.