The family office : is it time to go global?
According to the New World Wealth South African Wealth Report for 2018, family offices are a rapidly growing wealth management segment in South Africa. High Net-Worth Individual’s (HNWI’s) wealth represents over 40% of total private wealth in South Africa and the number of South African HNWI’s is expected to grow by 28% to reach 56,000 over the next decade. The Wealth Report also predicts an increase in HNWI’s offshore wealth allocation from 17% to 22% by 2027, due to increased allocations to foreign property, foreign cash and foreign equities.