The group, which has met twice so far this year, is made up of family offices across North America, Europe and Australia. In addition to Pitcairn, other founding members include HQ Trust (Germany), The Myer Family Company (Australia), Northwood Family Office (Canada), Progeny 3 (US) and Sand Aire (UK).

The group has been created on a more formalized basis after the success of the initial collaboration, the firm said in a statement today.

“At the semi-annual meetings that have been held this year, the CIOs have enjoyed a vigorous exchange of ideas and careful consideration of their application to the specific needs of multi-generational families. This global group allows each of the members to extend the reach of their investment intelligence gathering process,” Dirk Jungé, chairman and chief executive officer of Pitcairn, said.

The benefits of the collaboration are to exchange views on the economy and markets and share research and investment strategy ideas, said Pitcairn’s chief investment officer Rick Pitcairn.

The Wigmore group will next convene in March next year.

Pitcairn, which was founded in 1923, has offices in Philadelphia, New York and Washington, DC.