By: Caspar Helmore
The four pillars survey told us this year
that respondents view, uh, investment returns
or poor investment returns as the greatest threat
to long-term family wealth.
And I don't think that should really surprise us given the,
the three years we've had pandemic lockdown
and inflation resurge.
And, and those things have really changed the,
the business environment
and also probably the investment
environment in some ways forever.
So it's not a great surprise to us
that financial capital is back at the top
of everybody's worry list when it comes
to intellectual capital.
We are much greater than the sum of our parts.
We're very lucky to have the expertise of a number
of families who we've built our business around to channel,
into our investment portfolios.
And I don't think that's something
that every business in our position
can necessarily say they have.
Nowhere is that more evident than in our direct investments
team, where we'll see deals being cross-pollinated
between portfolios
and where our team are constantly assessing ideas
that have been brought to them, uh, by our network of,
of fantastic families.
When it comes to social capital, of course,
every family has areas that they will, uh, want to focus on,
particularly areas of restriction, um, and impact goals.
And we're able to reflect all of those things in, uh,
their ultimate investment portfolio.
It goes without saying that we've dedicated a substantial
amount of resource and and time to that.
And finally, as an investment team, that's part of a,
of a broader multifamily office, I think we have
to keep one eye on the horizon
and accept that if we can stick to our principles
of building appropriately diversified,
long-term inflation proof portfolios, uh,
we'll probably find that beyond
that the greatest threat intergenerational wealth transfer
and to long term wealth will probably come from family
dispute, family breakdown, uh,
and the failure to prepare the next generation.