DC Finance is honored to present the 4th Family Office & Wealth Management Conference, which will be held on June 10th at the Hilton Tel Aviv. This prestigious invitation-only conference provides an annual meeting place for the Israeli wealth management & family office community and their clients.
The 2012 event: More than 700 guests attended DC Finance’s 2012 Annual Family Office & Wealth Management Conference. Of these, 60% were high net worth individuals, 20% were senior legal and accounting firm partners, 10% were bankers and 10% were single and multi-family office members.
Agenda: The conference agenda will cover such topics as single vs. multi-family offices, the crisis of trust, building the next generation, family views on different issues, multi-family office investment philosophies, portfolio construction, private equity, real estate projects, investment in distressed securities, asset allocation models, legal and accounting issues in the life of the family and taxation strategies.
The Israeli market: We estimate that there are more than 12,000 relevant individuals in Israel that find family wealth management important, especially after the last very fruitful decade that produced hundreds of young affluent individuals from the hi-tech and finance sectors. Also, as one of the largest foreign country in terms of IPOs on the NASDAQ, Israel has produced hundreds of new HNWI that either owned or worked for companies that went public.
Also, Israel’s very recent flexible tax regime is attracting new Jewish ultra and high net worth individuals to relocate and transfer their assets into Israel.
Finally, as a young country, the so called “old money owners” are reaching the 3rd generation stage. The 3rd generation is the most challenging of them all and the one that requires professional advisory in many fields.
According to Merrill Lynch and Cap Gemini’s World Wealth Report, the number of millionaires in Israel leapt 20.6% in 2010 to a total of 10,153 individuals with liquid assets of at least $1 million, 20.6% more than the 8,419 millionaires in 2009. The millionaires’ aggregate disposable income rose to $52 billion in 2010 from $43 billion in 2009. The average high net worth individual in Israel had liquid assets of $5 million in 2009.
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