Details

Family Capital

Working with Wealthy Families to Manage Their Money Across Generations
1. Aufl.

von: Gregory Curtis
25,99 €
Verlag:	Wiley
Format:	EPUB
Veröffentl.:	08.01.2016
ISBN/EAN:	9781119094128
Sprache:	englisch
Anzahl Seiten:	352

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Beschreibungen

Titelbeschreibung

The lifelong guide to effective family wealth management strategy Family Capital provides a unique and practical lesson on wealth management. Instead of lectures and dry discussion, this engaging book follows an archetypal wealthy family through several generations and collateral family units to show you what effective family capital management looks like long-term. You will actually listen in on meetings between the family and its wealth advisor as they grapple with the many challenges family investors face. Expert wealth advisor Gregory Curtis provides advice and insight along the way, explaining why each strategy is effective, and how you can put it to work for you. You'll learn how to find an advisor you can trust, how to evaluate their performance, and how you can take the lead role in managing your wealth with the right advisor by your side. Estate planning and portfolio design are explored thoroughly to help you understand what makes sense for your family, and the companion website provides important forms and additional resources that help you put your plan into action. You've worked hard and done well, but the work isn't over. It's important to protect your wealth and make the right decisions to ensure that your family capital remains strong enough to benefit future generations. This book gives you a lifelong guide to effective wealth management, with expert insight to answer your most pressing questions. <ul> <li>Find your ideal wealth advisor</li> <li>Design and build your investment portfolio</li> <li>Monitor your investments and your advisor's performance</li> <li>Utilize trusts and other estate planning vehicles to your fullest benefit</li> </ul> The best way to learn something new is to hear lived experiences alongside expert commentary. Family Capital provides real-world perspective balanced by professional context, so you can tailor your next move to best suit your own situation.

Inhaltsverzeichnis

Preface ix The Titan Family x Organization of the Book xi A Note to Middle-Income Investors xiii Acknowledgments xv Prologue: The Titan Family in America xvii Preparation and Use xvii The Extended Titan Family xxii The Titan Family Tree xxvi Summary xxvi Note xxvi Chapter 1 George Titan III and His Catastrophic Mistake 1 Preparation and Use 1 How Not to Manage Your Family’s Money 1 The Mistakes George Made 9 What a Good Advisor Could Have Done for the Titans 12 Summary 17 Notes 17 Chapter 2 Ned and Rose Succeed Jake as Co-Heads of the Family 19 Preparation and Use 19 Ned and Rose React to George III’s Decision to Sell Equities 19 Jake Picks Ned and Rose as Co-Heads of His Branch of the Titan Family 21 What the Regional Brokerage Firm Could Have Done Better 35 Summary 38 Chapter 3 The Titans Search for and Engage a New Financial Advisor 39 Preparation and Use 39 How the Titans Conducted Their Search 39 Concluding the Search 46 Summary 50 Notes 51 Chapter 4 First Meeting: Governance, Investment Strategy, and Other Introductory Matters 53 Preparation and Use 53 First Meeting with the Titans’ New Advisor 53 Summary 62 Note 62 Chapter 5 The Titans Create an Investment Policy Statement 63 Preparation and Use 63 The Titan Family Meeting 65 Summary 91 Notes 95 Chapter 6 Establishing the Titan Family’s Investment Objectives 97 Preparation and Use 97 The Titan Family’s Version of Their Investment Objectives 97 Summary 121 Notes 122 Chapter 7 The Titans Grapple with Asset Allocation 125 Preparation and Use 125 The Asset Allocation Meeting 126 Summary 164 Notes 165 Chapter 8 The Manager Search Meeting 167 Preparation and Use 167 The Manager Selection Meeting 168 Summary 206 Notes 207 Chapter 9 Reviewing the Performance of the Investment Accounts 209 Preparation and Use 209 The Performance Reporting Meeting 210 Summary 244 Notes 245 Chapter 10 Miscellaneous Investment-Related Discussions 247 Preparation and Use 247 Family Investment Education 247 Adding Value to the Titan Family Portfolio 256 Investment Committees 263 Socially Responsible Investing 266 Summary 270 Notes 272 Chapter 11 Miscellaneous Non-Investment Discussions 275 Preparation and Use 275 Hiring a Custodian 275 Family Limited Partnerships 280 Family Philanthropy 281 The Family Office 290 How Much to Leave the Kids 292 Inequality and Wealth 295 Summary 307 Notes 308 About the Website 311 About the Author 313 Index 315

Autorenportrait

GREGORY CURTIS is the chairman and founder of Greycourt & Co., Inc., an open-architecture wealth advisory firm serving substantial families and select endowments on a global basis. He is the author of Creative Capital and The Stewardship of Wealth, as well as numerous white papers on a variety of investment topics.

Back cover copy

You’ve worked hard and done well, but the work isn’t over. It’s important to protect your wealth and make the right decisions to ensure your family capital remains strong enough to benefit future generations. Family Capital shows you how to manage capital and stay on top of the wealth management business the best way possible—through firsthand experience observing the meetings, decisions, and results of a family trying to sustain and grow wealth across generations. Author and preeminent authority on advising the very wealthy Gregory Curtis culls the private conversations and family dynamics from more than four decades of his practice, illustrating successful family wealth management through the rise and potential collapse of the fictitious Titan family fortune. Along the way, you see how to find an adviser you can trust and evaluate his or her performance, as well as what it means to take a leading role in managing your family’s wealth, and how to work with the right adviser. You will keep this innovative treatment of a typically dry subject at your fingertips for its: <ul><li>Insightful attention to how the human side of wealth management affects tactical investment decisions</li> <li> Word-for-word conversations portraying how life-changing decisions and missteps are made in the real world</li> <li> Top-tier expertise in estate planning and portfolio design and guidance for understanding what makes sense for your family or client</li></ul> Family Capital features a completely new level of hands-on support with chapter-by-chapter extras that let you fully engage with covered material, as well as critical forms you can customize and use in real-world practice. The Titan family story unfolds cover to cover, but chapters are conveniently edited so you can easily reference complete topics. Wealthy families face enormous obstacles to sustaining their wealth, and Family Capital prepares you for the conversations to overcome the most common ones.