Southpac Group expands to California to target US celebrity wealth

Southpac Group, a New Zealand-based financial services firm headquartered in Bay of Plenty, is expanding its operations into California. The company, which administers more than $6.8 billion in assets, is specifically targeting the wealth of American sports stars and Hollywood celebrities.

The expansion is driven by demand from US-based lawyers and professional advisers seeking sophisticated asset protection solutions, such as international trusts, for clients whose wealth grows rapidly. Southpac Group CEO Mike Arand noted that the firm aims to build relationships with existing legal and accounting professionals rather than approaching celebrity clients directly.

The move coincides with a significant rise in earnings among elite athletes. Recent estimates indicate the world’s 50 highest-paid athletes generated approximately US$4.1 billion over the past year, with a record US$1.1 billion coming from off-field commercial ventures and endorsements. Many of these high earners are under the age of 30.