"For wealth and business owning families and their advisers, this is the ultimate guide to getting it right."
David Chong, Group President, Portcullis (Singapore) Pte. Ltd., described by the Singapore Academy of Law as The Guru of Asian Family Offices
"Building on his previous work, The Transformative Power of Family Wealth is packed with insight and offers wealth owners powerful tools for channeling their resources into a force for good. Must reading not only for those stewards of family wealth, but for all those striving to serve them."
Amaury Jordan, CFA, co-founder of Avalor Investment (Switzerland) and TriLake Partners (Singapore)
"Philip’s book is a very worthwhile read for those who work with wealthy families. In particular, the paradigm of the Theory of Change as a mechanism to help to shape a succession planning strategy is fascinating. It is also refreshing to read a positive exposition of the role that private businesses can play in regenerating society."
John Riches, Partner RMW Law and President of the International Academy of Estate and Trust Lawyers
"With his extensive experience and deep insights, Philip’s latest book is required reading, not only for wealthy families and their advisors, but also for policy makers and thinkers as they ponder the role of wealthy families in tomorrow’s world."
Edmund Leow S.C., Senior Partner, Dentons Rodyk & Davidson LLP, Singapore
A manual for avoiding the common pitfalls of family wealth and businesses with a focus on how families can prosper while governments capture the benefits of wealth owning residents and citizens In The Transformative Power of Family Wealth, retired lawyer, wealth advisor, and tax consultant Philip Marcovici delivers a startlingly insightful and practical discussion of how family wealth and business owners can navigate internal and external challenges and have a positive and benevolent impact on the communities around them. For governments navigating the challenges and benefits of attracting and retaining wealth owners to their countries, an invaluable resource.
The book explains how to handle the difficulties associated with generational succession, family infighting, growing societal inequality, and complex taxation regimes. It walks you through:
- How to retain and grow your family's wealth through generations so you can continue to have a positive impact on the world
- How to handle internal family “derailing” events, like divorce, mental illness, fraud, and more
- Strategies for mitigating political risk for family-run businesses with international exposure and investments
- Approaches for governments to consider, including the adoption of regenerative tax systems that capture opportunities to create vibrant economies that address growing wealth and income inequality
Perfect for owners of family-run businesses and families with wealth, as well as the professionals, advisors, and consultants who work with them, The Transformative Power of Family Wealth is a must-read for lawyers, accountants, policymakers, legislators, regulators, journalists, and anyone else with an interest in improving their understanding of the issues affecting family wealth.
PHILIP MARCOVICI is a retired lawyer who consults with governments, financial institutions and wealth owning families on tax, wealth management, and related subjects. He is an expert in many of the issues faced by wealth- and business-owning families, including governance, trusts, partnerships, and other ownership and stewardship structures. He is a member of the Advisory Committee of the Hong Kong University of Science and Technology’s Roger King Centre for Asian Family Business and Family Office and is a Founding Advisor to the Multi-Generational Leadership programme created by the University of Cambridge’s Institute for Sustainability Leadership.
