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INTRODUCTION


Executive Chairman’s Address O


n behalf of the directors and founders of the International Family Office Association Limited (IFOA), it is my great pleasure to welcome readers to our second major publication: Family Office: The Future. This publication is a leap forward in thought-leadership – it is the first platform to promote the


concept and benefits of a Family Office within the China-Australia dynamic. Our editors have drawn on Asian and regional expertise and practitioners to deliver


a range of articles that will provide the reader with much-needed awareness about the growing interests and needs of ultra-high net-worth (UHNW) individuals and families. The IFOA draws together UHNW who are interested in learning and discussing smart ways to manage their wealth, protect their families and family governance strategies, and secure the future. Our influence with new UHNW can be seen in the events we recently held in Beijing – attracting over 600 and garnering front-page media coverage – and the 130 chairperson-level delegates we hosted in Sydney during 2013. We clearly have something useful to share with like-minded successful people in the region. This publication expresses some of the communication matrix the International


Family Office Association is delivering to Asia. As this is the beginning of a modern not- for-profit association, we continue to develop a platform and networking hub for the UHNW in Asia. However, we have quickly become an association of real relevance in educating new wealthy on how to structure and implement their own ‘Family Wealth Solutions’. As the IFOA evolves and embraces more media and education partners, we will continue to promote the adoption of culturally relevant best-practice processes, and provide education to the new young wealthy about Family Office learning outcomes. The rapid regional growth of wealth requires special knowledge and the International


Family Office Association will not be limited to a discussion of investment without an equal focus on issues of social responsibility. The implementation of smart and active philanthropic initiatives of sustainability and cultural relevance are crucial for all involved. The International Family Office Association also aims to provide non-aligned


specialist advisers. We are not aware of any other totally independent not-for-profit dedicated to the interests of the UHNW, and certainly no other offers such a fully transparent and open approach to communication as the IFOA does. As we have seen this past year the IFOA provide a ‘thought destination’ for non-partisan, objective views to be discussed openly and adapted by each participant to suit the individuals needs and interests. The IFOA is delighted to have been the catalyst and the forum sponsor in this evolution in thought. The International Family Office Association will not expose the personal dealings


of anyone who contacts us or our associates, nor will we share any personal details with outside service providers or supporter except with written permission under a commercial dealing with an associated advisory relationship. The IFOA will not facilitate singular and co-investment introductions unless specifically requested to provide relevant consulting guidance. The IFOA may 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. 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 multi-family office solutions. The Asia-Australia relationship is now so important – new wealth formation deserves


global best practice and asset allocation and the best international advice. Welcome to Family Office: The Future. Enjoy the magazine and then discuss with me or my Chinese associates your specific personal family needs. And remember: the innovative idea of today is the accepted policy of tomorrow.


Scott A J MacDonald Executive Chairman and Co-Founder International Family Office Association Limited. scott@ifoa.asia


FAMILY OFFICE: THE FUTURE 9 Scott A J MacDonald


YOUR FAMILY OFFICE FUTURE


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