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EXECUTIVE DIRECTOR’S ADDRESS


Building a regional hub for family offices in the Australian region


O


n behalf of the Directors and Founders of the International Family Office Association Limited, it is my great pleasure to welcome


readers to the inaugural edition of Family Office Asia Tomorrow. This publication is a breakthrough in thought leadership as it is the first magazine in the Australasian region to promote the concept and benefits of a ‘Family Office’ to the new emerging wealthy of Asia. Our editors have drawn on global best


practice experts and practitioners to deliver a range of articles that will provide the reader much needed awareness about the growing interests and needs of ultra high net worth individuals. The membership of the International Family Office Association draws together this important emerging group of people whom are open to learning and discussing smarter ways to protect and manage their wealth, family governance and future. This group of intelligent successful people want to develop by mixing with likeminded successful people in the region and globally. This publication provides one important


medium of the communication matrix that the International Family Office Association is delivering to this region and beyond. We envisage this is the beginning of a modern not-for-profit association that will provide to members and supporters an umbrella communication and networking destination for the ultra high net worth in the region and an association of global relevance in thought leadership on the topic. Our aim is that the association with our media, education and investment partners will continue to coordinate best practice processes and knowledge and provide peer- to-peer and other learning opportunities. The rapid regional


growth of wealth requires special knowledge and the International Family Office Association will not


be limited to a discussion of investment best ideas or access to private investment platforms without an equal focus on issues of social responsibility as expressed by the implementation of smart active philanthropic initiatives of sustainability. The International Family Office


Association also aims to provide access to non-aligned specialist advisers, as currently we are not aware of any other totally independent, not-for-profit organisation dedicated to the interests of ultra high net worth individuals that offers a full transparent and open approach to communication. The Association will provide a ‘location’ or ‘club’ where non-partisan objective views are tabled and guidance on matters as private and personal family office initiatives are handled with care and absolute confidentiality. The International Family Office


Association will not expose the personal dealings of members, nor share members’ details with outside providers or supporters, but it will provide a way to learn without a commercial agenda lurking in the background. The Association will facilitate singular and co-investment, and provide relevant consulting and guidance and introduction services to members on request. The Association will bring together the first, second and in some cases the third generations to review and discuss new ideas with new advisers or new partners and people from outside existing circles.


Scott A J MacDonald The International Family Office Association


will encourage the formation of single family offices and direct those who would be best served to seek out commercial or multifamily office solutions. As I have often stated, the Association will enable those with talent and skill to share and benefit from the paradigm changes occurring in the globalization of investment that we have been witnessing. The Asian region is important and the


new wealth formation in the region deserves access to global best practice and access to the best – after all we do not need to reinvent the wheel, just build a local hub – the International Family Office Association provides this new regional hub.


Scott A J MacDonald Executive Director and Co-Founder International Family Office Association Limited Sydney, September 20, 2011


“The new wealth


formation in the region


deserves access to global best practice”


FAMILY OFFICE: ASIA TOMORROW 9


INTRODUCTION


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