According to the recently published 2016 Wealth Report by Frank Knight, securing the right properties can serve the dual purpose of growing and preserving wealth. This is why most of the world’s ultra-high-net-worth individuals (UHNWIs) plan to increase their investment in property in 2016.
To high-net-worth individuals (HNWIs), it is important that they are able to use their wealth to achieve their dreams and facilitate their passions, but this requires professional guidance. This is especially so if one considers that, with the right advisors, the lifestyle passions of HNWIs can serve the dual purpose of growing and preserving wealth – not just spending it.
For example, while HNWIs are increasingly passionate about acquiring property in highly sought-after ‘lifestyle cities’ like London, Cape Town, New York and Monte Carlo, the right properties can also serve to diversify wealth globally, secure offshore safe-haven status for money, preserve wealth intergenerationally, provide more global passports, and locate children near word-class educational opportunities. Furthermore, if bought and sold at the right time, currency and price, it can also be a great investment – growing wealth rather than eroding it.
However, the complexity of such acquisitions and transactions requires expert and specialised skills. Standard Bank Wealth and Investment assists its clients to intelligently fulfil their life passions by working with, amongst others, Bonhams in the art world, Berry Brothers and Runt in wine, Stanley Gibbons in stamps and, of course, Knight Frank in property.
Through these strategic partnerships, the Bank delivers world-leading insight into the passions of its UHNW clients that open doors and initiate introductions in highly specialised fields, especially necessary if one is to realise the multiple wealth creation and preservation advantages of global property ownership.