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FEATURED ARTICLE
Eight Canadian families who de-risked the oil-and-gas rollercoaster
Vast oil and gas reserves fuel the fortunes of old and new generational wealth in Canada. But it takes hard work and humility to build wealth in this quintessential boom-and-bust sector.
One of the standouts is Nancy Southern, pictured above. She is chair and CEO of Calgary’s $27 billion ATCO empire started by her father, Ron Southern.
We decided to spotlight a few of the most prominent players in oil and gas and related industries in Canada. It's our most popular article so far this week.
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MEMBER CONTENT
What you need to know about setting up a single-family office (SFO)
In-house versus outsourcing? Top wealth expert, Thane Stenner, CIM®, FCSI®, weighs in.
What family office structure and model is best used in the marketplace today?
In Canada, ultra-high-net-worth (UHNW) families typically set up a single-family office with at least $200 million in family wealth, but in the U.S. it's closer to $300 million. The first question the wealth creator looking to set up a family office must ask themselves is: “What am I willing to fund in an annual budget for my level of wealth for the next five to 10 years?” That’s the mindset you have to have. Answering this question is really important because it will dictate how you structure your own single-family office.
“Globally, it’s a best practice to adopt a hybrid model that features in-house and external expertise, marrying core internal capabilities with external wealth expertise.”
This article is brought to you by Stenner Wealth Partners+.
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