April 22, 2019
Expanded Services for Cross-Border Families
GLENMEDE & STONEHAGE FLEMING STRATEGIC ALLIANCE
In 2018, Glenmede formed a strategic alliance with U.K.-based Stonehage Fleming, one of the world’s leading independently owned family offices, to expand the multinational services both firms provide to cross-border families of wealth.
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Our shared goal is to expand each firm’s client offerings and geographic capabilities while remaining independently owned and privately held. This alliance is a testament to the growing need to serve clients on a global basis.
ANTICIPATING THE NEEDS OF FAMILIES OF WEALTH
Glenmede’s focus is increasingly international to provide support for individual family members living, working and retiring both in the U.S. and abroad. At the same time, Stonehage Fleming clients are increasingly drawn to the stability, regulatory strength and tax environment of the U.S. Regardless of location, multi-generational family clients of both firms require sophisticated strategies to help them manage and protect their legacies as they participate in the largest transfer of wealth in history—estimated to be $68 trillion U.S. dollars over the next 25 years.1
COMPLEMENTARY SERVICE CAPABILITIES
Glenmede will offer investment and trust services to Stonehage Fleming clients in the United States, and Stonehage Fleming will offer international family office, trust and investment services to Glenmede clients in the U.K., Europe, the Middle East, Canada and South Africa.
STRONG STRATEGIC FIT
In addition to our complementary capabilities and geographic footprints, Glenmede and Stonehage Fleming share a fiduciary heritage that places the client at the forefront. Prior to formalizing our alliance, we developed a working relationship that became the model for how our mutual clients could seamlessly benefit from an expanded range of service offerings.
HISTORY OF INDEPENDENCE
Glenmede and Stonehage Fleming are the third- and second-largest independent multifamily offices in the world, respectively.2 Privately held, our only objective is to deliver the highest standard of personalized service and thoughtful advice to our clients
Both firms have evolved around a set of common values: a commitment to put our clients first; ethical and intellectual integrity; sound stewardship; and transparency and excellence.
Each firm maintains a collaborative culture that harnesses the best thinking of specialists and relationship teams. Private ownership allows a long-term view in our investment approach, business planning and operations, which encourages innovation in anticipation of the needs of multi-generational families and flexibility to adapt to external forces shaping those needs.
2018 Annual Review Disclosure:
Glenmede’s Annual Review is intended to be an unconstrained review of matters of possible interest to the Company’s clients and friends and is not intended as personalized investment advice. Advice is provided in light of a client’s applicable circumstances and may differ substantially from this presentation. Glenmede’s affiliate, Glenmede Investment Management LP, may conduct certain research and offer products discussed herein. Opinions or projections herein are based on information available at the time of publication and may change thereafter. Information gathered from other sources is assumed to be reliable, but accuracy is not guaranteed. Outcomes (including performance) may differ materially from expectations herein due to various risks and uncertainties. Any reference to risk management or risk control does not imply that risk can be eliminated. All investments have risk. Clients are encouraged to discuss the applicability of any matter discussed herein with their Glenmede representative. Nothing herein is intended as legal or federal tax advice.
1 “The Cerulli Report: U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2018: Shifting Demographics of Private Wealth”. Cerulli Associates.
2 Campden FB, April 2018.