EWM Group launches new philanthropy division
Queensland-based multi-family office EWM Group has established a new philanthropic division to cater for the ever-increasing giving needs of Australian high net worth clients.
The group said it is preparing for "an historic transfer" of wealth to the next generation of Australians amounting to more than $70 billion.
"We are on the cusp of a tsunami of wealth with a record amount of family assets moving into the hands of the X and Y generations in the next decade," EWM Group managing director Brad Scott said.
"As the pool of inherited wealth increases, families are taking advantage of tax incentives to set aside larger amounts for philanthropic giving during their lifetime - referred to as 'living giving'," he continued.