It’s the ultimate measure of wealth. A dedicated team focused entirely on managing your money for the long term to build a legacy that will secure your financial future for generations to come and even give some broader purpose to that wealth.
We are talking about family offices, and with the wealthiest Australians getting richer, there is a boom underway. The latest numbers show there are at least 2000 family offices in Australia, after growth of 150 per cent over the past decade.
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Andrew Hobbs covers self-managed superannuation funds (SMSFs), financial planning, retirement, inheritance, tax, personal finance and, sometimes, the Perth Bears. He has been a financial journalist for 30 years, previously at Bloomberg and AAP.
Jessica Penny is a wealth reporter for The Australian Financial Review.
