[3] He advocated improved relations between Britain and Germany and in 1913 founded the European Federation League.

His first wife, whom he married at St John the Divine, Richmond in 1873,[4] was Harriett Shallcross, whose father, the Liberal MP Thomas Cave, owned Queensberry House.

[4] His only son, Harry Waechter, also a businessman and philanthropist, was created a baronet in 1911.

[9] Waechter owned Glover's Island which he donated to the Borough of Richmond in 1900.

He helped preserve the view from Richmond across the river by preventing destructive development.