Stonehage Fleming Announces Series Of Senior Global Promotions

Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, announces a series of global promotions across the Group’s service offerings.

In the Family Office division, Guy Brukman (Zurich), Mark Swart (Jersey), Thiam Marais (Cape Town) Nicholas Smith and Priyanka Hindocha (London), are promoted to Partner, and Hattie Graham and Patrick Lynch (London) are promoted to Director.

In Investment Management, Mathew Powley (London) is promoted to Partner and Eleana Watts (London) is promoted to Director.

In Group Services, Monean Winterbach and Sumari Naude (Cape Town) are promoted to Director and Lylanie Berg (Cape Town) has been promoted to Head of Risk & Compliance for Mauritius.

These promotions follow recent appointments including Cora Binchy, Head of Fiduciary, who has been with Stonehage Fleming since 1987 and will oversee the fiduciary businesses in Jersey, Guernsey, Isle of Man, Switzerland, Monaco, Malta and Mauritius. Additionally, Tanja Bernat has been appointed as Director and Head of Relationship Management, based in Luxembourg. Tanja has over 20 years’ financials services experience and expertise in the alternative funds sector, specialising in private equity and real estate investments.

Giuseppe Ciucci, Executive Chairman, said: “It is a pleasure to announce these well-deserved promotions across Stonehage Fleming. We are thrilled to see a number of individuals – across our business – rewarded for their continued dedication and application. Our colleagues are pivotal to the growth and success of our business and we are deeply committed to their professional and personal growth. It is always a privilege to celebrate their success.”

Stonehage Fleming Appoints Pran Naidu As Senior Analyst in Global Best Ideas Equity Team

Stonehage Fleming Investment Management (SFIM) has appointed Prandhana Naidu as a senior equity research analyst within the flagship GBP3.8bn Global Best Ideas Equity Strategy (GBI).

Pran joins from Melville Douglas Investment Management, where she was a senior global equity analyst and co-fund manager. In total, she has well over 10 years’ investment industry experience.

Based in London, Pran, who has particular expertise in consumer and industrial sectors, amongst other sectors, will report into Head of Global Equity Management Gerrit Smit.

Gerrit Smit commented: “Pran has significant experience at a senior level working on global equity mandates very similar to our own and will be able to hit the ground running as part of the team supporting the Global Best Ideas Equity Fund. Pran has demonstrated throughout her career her ability to add value through high quality company and industry research and we are pleased to welcome her into the GBI team.”

Pran added: “The Global Best Ideas Equity Fund has a stellar track record stretching back more than 10 years and it is exciting to consider the investment opportunities that lie ahead given generationally powerful themes within areas such as artificial intelligence and healthcare. I am delighted to contribute to a strategy seeking to invest in the very best companies around the world and look forward to working with such a talented and experienced team.”

ENDS

Stonehage Fleming appoints Cora Binchy as Head of Fiduciary

SENIOR PARTNER TO OVERSEE MULTIPLE JURISDICTIONS

June 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Cora Binchy as Head of Fiduciary.

Cora joined Stonehage Fleming in 1987. She has extensive experience of working with international high net worth families providing trustee and executor services. Cora started her career in Switzerland establishing the Group’s fiduciary team and trustee services. She then moved to the Group’s Jersey office to head-up the fiduciary team and was instrumental in building out their fiduciary capabilities.

As Head of Fiduciary, Cora will oversee the fiduciary businesses in Jersey, Guernsey, Isle of Man, Switzerland, Monaco, Malta and Mauritius. She will work closely with key stakeholders in each jurisdiction to ensure that services are aligned to the highest standards of fiduciary risk management.

Cora will continue to be based in Jersey. She will report to Mark McMullen, CEO – Family Office and the appointment is effective immediately.

Mark McMullan, CEO - Family Office, commented: “We are delighted to announce that Cora Binchy will take on the position as Head of Fiduciary. The fiduciary business lies at the heart of Stonehage Fleming, and in the majority of client cases, we act in a fiduciary capacity in different parts of the world.

“Cora’s leadership in trust and fiduciary services across Jersey has made her a leading figure within the community and as we have increased the number of jurisdictions within which the Group now operates, this attribute will help to ensure that we focus on offering best in class fiduciary services to the world’s leading families and wealth creators. We wish Cora well in her new role.”

Cora Binchy added: “At Stonehage Fleming, our independence differentiates us, and most importantly, it allows us to align our interests with those of the families we serve. The Group has seen significant growth through adding new services in response to client needs across several geographies. I am excited to lead on this in my new role and continuing my career at the Group.”

Head of Stonehage Fleming Corporate Services South Africa elected Chair of the South African Securitisation and Asset Backed Debt Securities Forum

We are delighted to announce that Brendan Harmse, Head of Corporate Services South Africa, has been elected Chairperson of the South African Securitisation and Asset-Backed Debt Securities Forum. Brendan brings extensive experience to this industry leadership and serving role, having previously acted in various Forum capacities, such as Chairman and Vice Chairman between 2009 and 2018.

Founded approximately twenty years ago, the Forum serves as a vital advocate for stakeholders participating in the South African securitisation and asset-backed debt securities markets. It actively promotes industry knowledge, fosters collaboration with policymakers and regulators, and engages with local and international stakeholders on matters shaping these markets.

While the securitisation and asset-backed security markets in Europe and the United States have largely recovered from the 2008 credit crisis and witnessed growth in recent years, South Africa has not yet mirrored this trend.

As the newly elected chairperson, Brendan intends to engage with stakeholders (including bank and non-bank issuers, legal professionals, regulators, and investors) over the next 100 days to explore strategies on how to potentially revitalise these South African markets, which facilitate matched-funding and risk transfer. Brendan identifies two key priorities for the Forum moving forward. First, assisting with simplifying the industry and related processes, drawing on successful models and trends in Europe and the United States, and secondly to actively expand the Forum’s investor member base.

Brendan believes his role also presents a unique opportunity to leverage Stonehage Fleming’s global experience and knowledge of international best practices, and sharing these valuable insights with the Forum and its stakeholders to the benefit of the entire South African market.

ENDS

Stonehage Fleming Appoints Investment Management Partner

Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Carolyn Bell as Partner within Stonehage Fleming Investment Management (“SFIM”).

With over 15 years’ industry experience, Carolyn joins Stonehage Fleming from Aegon Asset Management where she was Investment Manager for the Aegon US Equity Pension Fund. She was also co-manager of the Aegon Technology Pension Fund, and support manager for the Aegon Global Equity Market Neutral Fund. Prior to Aegon Asset Management, Carolyn spent five years as an Investment Analyst at Bailie Gifford.

Carolyn will work closely with Stonehage Fleming’s flagship Global Best Ideas Equity Strategy (“GBI”) and support the continued scaling of GBI across all channels, bringing particular experience of working with institutional and other professional investor audiences. She will be based in London and will report to Gerrit Smit, Head of Global Equity Management for SFIM. The new role is effective immediately.

Graham Wainer, CEO – Investment Management, Stonehage Fleming, commented: “We are pleased to have Carolyn join us as a Partner in the Investment Management team. She has an impressive career and her experience of analysis and management in institutional investment firms, as well as US equity markets, will be invaluable to the SFIM division including the firm’s flagship Global Best Ideas Equity Strategy. She will be a great asset to the Group.”

Carolyn Bell added: “I am delighted to join Stonehage Fleming. Global equity markets remain a beacon for investment opportunity, offering a dual advantage of protecting wealth through diversification and nurturing its growth potential, especially in the current economic landscape. I look forward to working with such a talented investment team.”

Stonehage Fleming Appoints Trustee Director in Jersey Family Office

Jersey, 26 March 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Chris Cameron as Trustee Director in the Jersey Family Office division.

Chris has 25 years' experience in trust and company administration, and joins Stonehage Fleming from Crestbridge Family Office Services where he was a Client Services Director. Prior to this, Chris spent 16 years at HSBC Private Bank (HSBC Trustee Channel Islands Limited), most recently as Senior Trust Manager.

Chris will work closely with clients, advisors, co-trustees, and various divisions and business units within the Stonehage Fleming Group. He will act on the boards of corporate trustee and corporate director companies operating across the Group’s jurisdictions. Chris is based in Jersey and will report directly to Richard Stride, Partner and Head of Family Office Jersey. The role is effective immediately.

Stonehage Fleming’s Jersey Family Office division also announces the appointment of Jacqui Newton as an Associate Director and Josh Lagadu as an Associate. Both roles are effective immediately.

Richard Stride, Partner and Head of Jersey Family Office, commented: “It is a pleasure to welcome Chris to Stonehage Fleming. The current market environment demands agility and strategic foresight and his leadership in managing multi-jurisdictional client entities, diverse asset portfolios, and driving regulatory compliance efforts will strengthen our existing capabilities.

“His appointment alongside Jacqui and Josh’s underscore our ongoing commitment to growing and developing our Family Office offering here in Jersey, to ensure that we offer best in class services to the world’s leading families and wealth creators. I look forward to working with him closely.”

Chris Cameron added: “Stonehage Fleming has been privileged to support many of its clients in managing and protecting wealth over several decades, and often across several geographies. I am delighted to join the Group and look forward to working with clients to navigate the complexities of realising their vision for wealth succession.”

Stonehage Fleming Appoints Trustee Director In Switzerland

6 March, 2024 – Switzerland – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Isabel Villalba Schmid as Trustee Director in Neuchâtel, Switzerland.

Isabel joins Stonehage Fleming’s Fiduciary team from ACE Trustees SA, where she was Vice President – Wealth Planner. Prior to this Isabel was Head of Client Operations (Switzerland) of Geneva Management Group and Senior Trust Manager at Rothschild & Co. She has also held roles at Cititrust and Ferrier Lullin & Cie.

Isabel will act in a management and leadership role for trusts and companies managed out of Switzerland. She will also develop new business opportunities for the Group.

Isabel is based in Neuchatel and reports into Philippe de Salis, Head of Fiduciary Switzerland. Her role is effective immediately.

Philippe de Salis, Head of Fiduciary Switzerland, Stonehage Fleming, commented on Isabel’s hire: “It is a pleasure to welcome Isabel to our expert Fiduciary team in Switzerland. Her extensive experience will make her a valuable addition to the team as we support families’ intergenerational succession planning. We look forward to working with her closely, as we continue our commitment to being the distinguished independent adviser to the world’s leading families and wealth creators.”

Isabel added “I am delighted to join Stonehage Fleming, which offers an exceptionally broad range of expertise and global capability. I look forward to working with the team in Switzerland and alongside the wider Group divisions, to continue to deliver Stonehage Fleming’s substantial range of cross-jurisdictional fiduciary services.”

Stonehage Fleming Receives FINMA Operating Licence

6 February, 2024 – Switzerland - Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, announces that Stonehage Fleming Investment Management (Suisse) AG (“SFIMCH”) has received the new operating licence required by the Swiss Financial Market Supervisory Authority (FINMA).

In 2020, new financial regulations were introduced by FINMA for asset management companies and trustees requiring all to obtain a new licence in order to operate. The licence was granted to SFIMCH on December 21 2023, following a rigorous application process.

Andreas Knecht, Partner and CEO, Investments Switzerland – Stonehage Fleming, commented: “Receiving this operating licence from FINMA is a ‘seal of quality’ for the future. We welcome the new regulation to improve comparability and equivalence with other financial markets. Switzerland, as a centre for wealth management, will become increasingly more attractive and as a result will profit from an enhanced reputation in the global financial arena.”

Stonehage Fleming Investment Management is adviser to many of the world's leading families and wealth creators and has teams based in London, Zurich, Liechtenstein, Cape Town, Johannesburg and Jersey.

Stonehage Fleming Appoints Head of Corporate Services Continental Europe

Luxembourg, 22 January 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international family offices, announces the appointment of Raphael Eber as Head of Corporate Services, Continental Europe. His appointment marks the Group’s wider objective to bolster Luxembourg as a central hub for its Corporate and Fund Services offering.

Raphael will be responsible for the Corporate and Fund Services delivered from Stonehage Fleming’s Luxembourg and Malta offices and will spearhead strategic initiatives aligning with Stonehage Fleming's growth objectives in Continental Europe, specifically in both countries.

With over 25 years’ experience Raphael joins Stonehage Fleming from BDO Luxembourg where he was a Partner and Private Equity Leader. He was in charge of CF Fund Services, BDO’s Central Administration for alternative investment funds and hedge funds. Prior to that, Raphael was Deputy Head of Corporate Solutions at Apex Group Ltd.

Raphael will be based in Luxembourg and will report to Willem Badenhorst, Group Head of Corporate Services. The appointment is effective immediately.

Willem Badenhorst, Group Head of Corporate Services, commented on the appointment: “We are thrilled to welcome Raphael as Head of Corporate Services for Continental Europe. As the regulatory environment becomes ever more complex, many clients turn to us to guide them through the legislative intricacies, and to assist them at every stage of their structures’ lifecycle. Luxembourg is a key onshore market for our Corporate and Fund Services clients, being the second largest fund jurisdiction globally. Raphael’s leadership will be instrumental in enhancing our capabilities and fostering long-term growth for Stonehage Fleming in Continental Europe. I look forward to working with him.”

Raphael Eber added: “I am delighted to join Stonehage Fleming. It offers a bespoke service designed to help families and wealth creators navigate the world’s increasingly complicated and regulatory environment. I’m looking forward to supporting the Group in its growth objectives in Continental Europe.

Stonehage Fleming's Corporate Services division provides corporate and fund solutions and operates from five offices (Luxembourg, Malta, Jersey, South Africa and Mauritius).

Stonehage Fleming Appoints Head Of Family Office Guernsey

Guernsey, 20 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Gillian Ralston Jordan as Head of Family Office in Guernsey.

With over three decades of experience in both law and the financial services industry, Gillian joins Stonehage Fleming from JTC PLC where she was Group Director. Prior to this Gillian was Director and Head of Fiduciary Services at Duncan Lawrie Private Banking, and Director at Abacus Trust Company. Gillian has also held roles at IFG International as a Client Services Director, and at Ernst & Young Trust Corporation (latterly RBTT) as Managing Director. Gillian is a practicing Solicitor regulated by the Law Society of Scotland. She is a member of the Society of Trust and Estate Practitioners and a Notary Public in Scotland.

Gillian will have overall responsibility for managing the Family Office activities in Guernsey, working closely with clients, third parties, and the wider Stonehage Fleming Group, as well as developing new business. Gillian will be a member of the Family Office Executive Committee.

Gillian is based in Guernsey and will report directly to Greg Harris, Partner and Head of Family Office division for all British Islands (UK, Channel Islands and Isle of Man.) The role is effective from 13 November 2023.

Greg Harris, Partner and Head of Family Office, British Islands, Stonehage Fleming, commented on Gillian's appointment: “It is a pleasure to welcome Gillian to Stonehage Fleming as Head of Family Office in Guernsey. Gillian is a seasoned and accomplished professional who will bring invaluable insight and experience to our existing highly talented team in Guernsey. We look forward to welcoming her to the Group, as we continue our commitment to being the distinguished independent adviser to the world’s leading families and wealth creators.”

Gillian Ralston Jordan added, “I am delighted to join Stonehage Fleming and lead the Family Office activities in Guernsey. I look forward to working closely with the team to continue to deliver Stonehage Fleming’s best in class services and advice for our clients and to contributing to the continued growth and success of the organisation.”

NOTES TO EDITORS

Stonehage Fleming is one of the world’s leading independently owned multi- family offices and the largest in Europe, Middle East and Africa (EMEA), as measured by its breadth of services, geographic reach and by assets under management, advice and administration.

Stonehage Fleming provides a range of services from long-term strategic planning and investments to day-to-day advice and administration to the world’s leading families and wealth creators. The Group advises on over GBP122bn (USD150bn) of assets and includes an investment business with more than GBP18bn (USD21bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 1000 people in 14 locations around the world. Find out more at: www.stonehagefleming.com

Statistics as at September 2023

Investment Outcomes And Political Risk Are Biggest Challenges To Preservation Of Wealth, According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report

• Very Few Respondents Take A Formal Approach To Reputation Management With Nearly 90% Not Keeping Track Of Their Digital Footprint
• More Than 85% Of Respondents Consider Philanthropy A Central Part Of Their Purpose And Values But Only 22% Have A Formal Strategy For Grant-Making

London, 13 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, reveals the results of its survey ‘Four Pillars of Capital: Managing risk in an age of upheaval’.

Drawing on the responses from nearly 300 families and advisers, the research assessed the impact of sequential global events, including the COVID pandemic, the war in Ukraine, slowing economic growth and accelerating inflation on the long-term sustainability of family wealth.

Stonehage Fleming surveyed respondents on themes including risks to sustaining family wealth, investment attitudes and the growth of values-driven investing, reputation management in a digital age, philanthropy, governance, leadership and the Next Generation; and the purpose of wealth.

THE NEW RISK ENVIRONMENT

The survey identifies a major shift in the biggest risks that families and wealth creators perceive to their long-term prosperity. For the first time since Stonehage Fleming began its proprietary research series in 2013, the investment environment and political risk make up two of the top three threats to the preservation of wealth. When asked how families identify and mitigate risks to their long-term prosperity and goals, only 20% have a formal regular process.

Giuseppe Ciucci, Executive Chairman and Chief Executive Officer at Stonehage Fleming said: “Our Four Pillars of Capital research has taught us that our clients like to have insight into what their peers are thinking and how they have addressed – or are addressing – the challenges and opportunities that they have in common. Observations from our 2023 report have reinforced the importance of preparing the Next Generation to assume the responsibilities of wealth and employing a simple and rigorous process for risk appraisal. Other important themes included the vital importance of understanding your digital profile in today’s world, the potential rewards of involving the Next Generation in philanthropy and the need for clear and effective communication between family members.”

REPUTATION MANAGEMENT IN the DIGITAL AGE

The challenge of managing reputational risk has increased over the past decade especially with the public launches of AI-enabled text, audio and image generation services producing “deepfakes”. However, the survey revealed that 43% of respondents have no formal process for managing the reputation of their family or its members and only 13% of respondents say they actively track their family’s digital footprint.

Guy Hudson, Partner and Head of Group Marketing and Communications said: “We know families value their reputations and so we are surprised by the data showing how few families are conscious of the digital risks they may encounter. In an age of increased transparency, it is almost impossible to be proudly anonymous. With the complexity that social media brings, it is harder than ever to control the narrative. A digital health check is a sensible element of a comprehensive risk management strategy.”

Philanthropy: the power of partnership

Although 86% of families consider philanthropy a central part of their purpose and values, 64% have no pre-determined budget and make regular donations based on an informal process. Only 7% of respondents reported that they have a formal process for agreeing and appraising the contribution they make to their communities and wider society.

When questioned on how families communicate their contribution to the community and wider society, 64% of respondents prefer to remain discreet. However, when questioned on the extent to which philanthropic activities should be publicised, 51% believed that a lack of awareness of the societal contribution made by families and wealth creators could pose a threat to wealth.

For the first time, the 2023 survey asked specifically about the involvement of the Next Generation in families’ philanthropy activities, and strikingly in 49% of all respondents’ families, the Next Generation are not substantially involved.

Governance, Leadership and the next generation

Nearly half (46%) of respondents do not have a formal leadership structure and the ways in which families select their leaders remain diverse. The one clear trend is a decline in preference for primogeniture. Only 5% of families – and none at all in the US or Europe – now believe this traditional method of succession to be a good fit with the demands of modern intergenerational wealth management (a decline from 20% in 2018).

In most regions, a substantial minority of families employ leaders from outside the family. While in the Americas, a majority (52%) take this route. When asked how families believe leaders should be selected in the future, over 40% of respondents indicated either by committee, or the wider family.

More than two thirds of families are taking proactive steps to give the Next Generation a more prominent role in the family, with this trend being more advanced in Africa and the Americas than in the UK and Europe. However, when equipping the Next Generation to understand the broad responsibilities of wealth nearly half (46%) report that preparation is informal – they rely on the family environment and the conventional education they provide. Only 16% of families encourage their children to attend programmes and bespoke education.

Purpose: the foundation of successful family strategy

Only 36% of families currently have an agreed purpose for their wealth; however, for a significant number of respondents, it is the acceleration of political and economic volatility since the 2018 Four Pillars of Capital report that has crystalised their thinking. Four common themes in respondents’ philosophies are maintenance of the family legacy, care of family members, achieving philanthropic goals and fulfilling religious responsibilities.

Matthew Fleming, Partner and Head of Family Governance & Succession, at Stonehage Fleming said: “Purpose is the foundation of a family’s decision-making framework and in turn underpins the Four Pillars of Capital. The real challenge is communication: ensuring that purpose is articulated, shared and understood – first and foremost within the family itself. We believe passionately that families who take the time to reflect on their purpose and engage the Next Generation in both defining and living it, give themselves the best chance of intergenerational success.”

ENDS

METHODOLOGY

This paper was drawn from a 34-question online survey, completed by nearly 300 contributors from families and advisers ranging from 18 to over 80, across Europe, the Middle East and Africa, and the Americas in addition to the solid base of participants in the UK and its sovereign territories. The survey was distributed on 20 April 2023 and closed on 20 July 2023. In addition, wide ranging in-depth face-to-face interviews were conducted with 15 ultra-high-net-worth (UHNW) families and advisers, discussing their long-term plans, attitudes and concerns.

Over Two Thirds Of Affluent Families Incorporate Values-Based Investing In The Management Of Wealth According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report

• Yet less than half of all families (49%) actually have an explicit, agreed set of values
• The number of families applying exclusions to their investment strategy doubled to 43% since 2018
• Listed equities, private equity and real estate remain the most favoured asset classes with little appetite for radical engineering of portfolios over the coming five years

London, 13 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international family offices, reveals that over two thirds (71%) of affluent families incorporate non-financial values in the management of their family wealth.

This finding is contained in Stonehage Fleming’s report, ‘Four Pillars of Capital 2023: Managing Risk in an Age of Upheaval’, which is based on proprietary research conducted with nearly 300 members of different families, wealth creators and their advisers (see ‘Methodology’).

While 16% of respondents orient their investment strategy using financial returns alone, those who deliberately invest their entire portfolio to reflect their non-financial values has nearly tripled to 13%, from 5% in the 2018 Four Pillars of Capital report.

The manner in which these non-financial values are incorporated, however, remains relatively unstructured for the majority of respondents. One reason for this disconnect may be that many families have not explicitly decided which non-financial values they wish to target, with under half (49%) having an agreed, explicit set of values.

The survey identifies a significant increase in the proportion of families who choose strategies involving a more active approach to stock-picking or investor manager engagement. The proportion of respondents invested in explicitly ESG or Socially Responsible Investment (SRI) products has more than tripled to 45% (2018: 14%), and those adopting an impact investing approach has nearly tripled to 22% (2018: 8%). At the same time, excluding investments deemed unsuitable from families’ portfolios via negative screening has become more popular, nearly doubling to 43% (2018: 24%).

The survey also reveals families’ views on high-level asset allocation remain substantially unchanged since 2018. Listed equities, private equity and real estate remain the favoured assets classes, with little appetite for radical engineering of portfolios over the coming five years.

Graham Wainer, CEO Investment Management at Stonehage Fleming, said: “Despite the economic landscape undergoing a series of tectonic shifts we are encouraged that the 2023 survey finds there are no sizeable swings in preferred asset classes. We certainly see the benefits for investors of patient capital in holding less liquid positions in private market investments to complement exposure to mainstream public markets. We have long emphasised the importance of viewing investment returns over a cycle and despite the challenge in a period of higher inflation, we believe that targeting capital growth in real terms is the correct strategy for investors new to investment markets as well as those with multi-generational characteristics.”

Mona Shah, Head of Sustainable Investments at Stonehage Fleming said: “Over the last decade there has been nothing short of a revolution in the integration of values beyond financial return alone into the design and implementation of investment strategies. We have seen two important trends emerging over the past decade. Firstly, an increased desire amongst families to define their non-financial values explicitly and to integrate them not only into the management of their wealth, but into their businesses, philanthropic activities, and general conduct, and secondly, an increased commoditisation of sustainable investment offerings from the investment management industry.”

Commenting on bridging the gap between families’ ambitions to increase their values-based investing and the often commoditised offerings available Mona added: “Experience suggests a simple three-step framework. Define and agree your family's non-financial values, choose how to incorporate these into your wealth management strategy, and ensure that impact is measured, and the outcomes are monitored.”

ENDS

METHODOLOGY

This paper was drawn from a 34-question online survey, completed by nearly 300 contributors from families and advisers ranging from 18 to over 80, across Europe, the Middle East and Africa, and the Americas in addition to the solid base of participants in the UK and its sovereign territories. The survey was distributed on 20 April 2023 and closed on 20 July 2023. In addition, wide ranging in-depth face-to-face interviews were conducted with 15 ultra-high-net-worth (UHNW) families and advisers, discussing their long-term plans, attitudes and concerns.