Family offices, a financial utility reserved for that small percentage of the extremely rich and successful people, are increasing in popularity in Asia as the region's wealth continues to grow.
In a world where the affluent look at securing and enhancing wealth for the next generation, the family office moves further with the suggestion now for the uber-rich that they should be looking perhaps a century ahead and taking their massive wealth to generation three.
Paul Woodcock, manager, business development, Lloyds TSB Offshore Trust, said given the increasing prosperity in the region, 'ultra high-net-worth individuals and families in Asia are becoming increasingly aware of family offices and what they can do'.
'The number of family office and private trust company arrangements are becoming more prevalent year on year,' he said.
'Several bespoke service providers set their stalls out to attract purely international family office business, rather than the more generic service that caters for standard private client arrangements.
'The scope of services that a family office provides is heavily diversified - it's really dependent on the circumstances of the family in question. It's a true tailor fitting operation.'