Melbourne Family Office
Melbourne is the second most populous city in Australia and the second-most popular destination for family offices. The following free guide to Melbourne Family Offices will help you better understand Melbourne family offices and provide you with resources to learn more about Melbourne family offices. You should also check out our 100% free book on family offices.
Introduction to Melbourne
As previously mentioned, Melbourne has the second largest population in Australia. More generally, the country enjoys a high standard of living and has a high GDP per capital as well as a low poverty rate. Australia is the 13th largest economy in the world and large local economies in Melbourne and Sydney which both have strong financial industries.
The government of Australia is also considered very stable and the country has a productive market economy. Melbourne has been ranked one of the world’s most livable cities and is home to a large financial sector making it an ideal Australian hub for wealth. The strong financial sector in Melbourne also makes suggests that it will continue to embrace the family office concept as it has already welcomed other financial institutions.
Family Offices in Melbourne
Family offices are still not fully embraced in Australia but we expect the industry to grow in the next few years in the country as the family office concept gains traction and becomes more familiar to the country’s wealthy families and ultra-high net worth individuals.
We recently spoke with a professional who works at a family office in Australia and he told us the following about the growth of the family office industry in Australia:
“There is a huge amount of opportunity. The biggest I guess barrier to growth is finding good enough quality people to join the industry. As you’re aware anyone who is going to be a quality participant in the industry needs to have fantastic strong ethics, they have to have a very, very good skills set, they have to have a very good education, a high level education, and need to have the right attitude about the servicing clients and helping the clients out, so they need to be very, very passionate about the space. And without that you can’t have them.
And so with that as you’re having various people in — that actually means that you can grow. And so the quality of growth needs to be maintained in this industry. But the opportunity to look after clients is quite large.
I think it is as you quite a natural evolution and indeed it’s happening as you mentioned there is more and more educational groups evolving. In Australia, we have a group called Dealers Group, I’m not too sure if you know about them, but they basically – they are probably one of the most influential groups here in Australia as far as assisting the industry to grow.
…it’s still a very, very new industry in particular in Australia, on the west coast, it’s brand new, on the east coast, it’s been around for a bit longer than that. ”
The following is a collection of Melbourne family office resources:
Melbourne Family Office Resources Guide
Melbourne Family Office Resource #1: The Australian government has published a helpful guide to private banking in Australia including family offices.
Melbourne Family Office Resource #2: I came across this great presentation on the “Family Office Scene in Australia.”
Melbourne Family Office Resource #3: I heard about Australia’s Dealers Group recently while conducting an interview with a family office group. The firm connects family office professionals with industry events like the 3rd Annual Family Office Conference in Melbourne.
Melbourne Family Office Resource #4: If you are looking for contact details of family offices in Australia you may want to consider using a Family Offices Database. A Family Office Database provides you with the complete contact details for 100′s or sometimes even up to 1,000 global single and multi-family offices within an easy to use Excel spreadsheet format. Learn more about this by clicking here.
Melbourne Family Office Resource #5: Here is an article on how Australian family offices are investing in mezzanine debt.
Melbourne Family Office Resource #6: Here is an Australian men’s magazine detailing the process for building your own family office.
Melbourne Family Office Resource #7: This article discusses why the family office industry has grown so rapidly in recent years.
Melbourne Family Office Resource #8: This article talks about how Credo Group Holdings invested in an Australian multi-family office.
Melbourne Family Office Resource #9: You can read about the International Family Office Association launch party in Australia here.
Melbourne Family Office Resource #10: Here is an article covering how one Australian family office is launching a new system for philanthropy.
Melbourne Family Office Resource #11: This is an interesting story on how Australia is gradually adopting the family office model that has already been embraced in the U.S. and the E.U. countries.
Melbourne Family Office Resource #12: If you’re looking for more information on family offices in Australia, be sure to check out our free guide.
Are you an employee or manager of a family office in Melbourne? Then we’d like to keep in touch with you. Simply send us an email at Richard@RichardWilsonCapital.
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