International family wealth requires tailored solutions and broad expertise
'Managing family wealth and transferring it to the next generation is often highly complex, especially when multiple generations are involved and family members, businesses and assets are spread across different countries,' says Jérôme Castagne, Head of Private Wealth Management at ABN AMRO MeesPierson's Brussels office.
In the coming years, the so-called Great Wealth Transfer will only add to that complexity. Large fortunes will then pass to the next generation, and expectations within families often differ. 'We regularly see clear differences of opinion between generations,' says Jérôme Castagne.
'Generations Y and Z place far greater importance on crypto assets, artificial intelligence, passive investing, sustainability and private markets than their parents or grandparents.'
“Managing family wealth and transferring it to the next generation is often highly complex, especially when multiple generations are involved and family members, businesses and assets are spread across different countries.”
Jérôme Castagne
Head of Private Wealth Management
Different countries, different rules
As soon as family members and wealth are spread across several countries, the situation becomes even more complicated. Different tax systems, rules and inheritance frameworks then overlap. What is more, those rules regularly change under the influence of political reforms.
'There are European rules that more or less clarify which civil law applies to the transfer of assets through gifts or death, but many practical questions families face remain unanswered because the subject is so broad and complex,' says Céline Beaujean, a wealth planning expert within ABN AMRO MeesPierson's Wealth Solutions team.
'The challenge is to organise both the civil and tax aspects of a gift or inheritance properly, while the applicable rules differ from country to country. That is precisely why our clients value the legal and tax guidance we provide.'
“Our Wealth Solutions team offers tailored solutions for structuring and transferring both private and business assets across borders. This service is an integral part of what we offer.”
Céline Beaujean
Wealth Planner
Tailored solutions across borders
For families with this profile, a traditional approach is not enough. According to ABN AMRO MeesPierson, a broad perspective, extensive shared experience and a stable team make all the difference.
'With this approach, we at ABN AMRO MeesPierson can add extra depth to our core mission: protecting and growing our clients' wealth,' says Céline. 'That is why our Wealth Solutions team offers tailored solutions for structuring and transferring both private and business assets across borders. This service is an integral part of what we offer.'
'Together with our relationship managers and wealth planners, we can mobilise experts across the ABN AMRO group, both in Belgium and abroad,' says Jérôme. 'This enables us to develop competitive and effective solutions for investments, financing and wealth structures.'
'We have built trusted relationships with many of our clients over many years. This means we are present at key moments in their lives and can respond to their questions more effectively. We also want to continue building that relationship with the next generations.'