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KEY TAKEAWAYS Having life insurance typically makes sense if you lack the financialresources needed to fill a financial gap if you were to die.  Do the math to ensure you aren’t significantly over- or underinsured. ...

KEY TAKEAWAYS: Using a trust to freeze the value of your company can help youpass on sizable sums to your heirs—free of estate taxes. These solutions can be flexible and tailored to your specificsituation and goals. Despite the...

KEY TAKEAWAYS: Exploiters are professionals who recommend aggressive variationsof financial solutions and strategies that are legal—for now—butlikely to blow up on you down the road. Anytime you’re presented with a...

KEY TAKEAWAYS: Of the four types of advisors you’ll meet, consummateprofessionals are the only ones with whom you should work. Consummate professionals are thought leaders who stay highlyinformed about ideas that add value to...

KEY TAKEAWAYS:  Planned giving coordinates philanthropy with your other financialgoals, such as tax mitigation and estate tax reduction.  There are eight main types of planned gifts to consider—each withits own pros and...

KEY TAKEAWAYS: Writing a book can help impart your values to heirs and impacttheir futures positively. An effective book will have candid, honest stories that enlightenand benefit the readers.  An outline and a formal writing plan...

Single-Family Office Best Practices—and What They Mean for You

John Thompson CIMA®, CPWA®

Saturday, January 6, 2024

More advisors are working to understand clients’ deep needs and values. Top talent is more accessible to the “merely affluent” today than in the past. A focus on family and family relationships is trending. We are...

Setting Up a Family Office for Success

John Thompson CIMA®, CPWA®

Saturday, January 6, 2024

Key Takeaways Some family offices are being set up with locations in multiple states or multiple countries. Getting access to global expertise and opportunities is a key driver. Virtual family offices are increasingly using technology...

Comparing Single-Family and Multifamily Offices

John Thompson CIMA®, CPWA®

Saturday, January 6, 2024

KEY TAKEAWAYS Single-family offices can act like a supercharged concierge for wealthy families. Multifamily offices seek to emulate many single-family office traits. There are distinct differences between the two in terms of control,...

Best Practices of Family Offices—and Why You Should Care

John Thompson CIMA®, CPWA®

Saturday, January 6, 2024

Key Takeaways A focus on results—not the solutions to get the results—is important. Top professionals focus on their best skills and outsource the rest. Connecting with others and building productive relationships can...

Ask These Questions if You’re Considering a Family Office

John Thompson CIMA®, CPWA®

Saturday, January 6, 2024

KEY TAKEAWAYS ■ Family offices are right for some affluent families—but certainly not all of them. ■ Comparing single- and multifamily offices is a good step. ■ Some affluent families may be best served by...

The Super Rich Stress Test Their Financial Plans— and So Should You!

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

KEY TAKEAWAYS: Testing the assumptions of a financial plan, product or service can help confirm it’s right for you—or identify any ways it could jeopardize your goals and put you at risk. High-level stress testing involves...

The Importance of Stress Testing Your Wealth Strategies

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

Key Takeaways Stress testing is a common practice among the affluent. Stress testing helps you see if your current solutions are likely to deliver the results you want and need. Stress testing can be done in multiple...

Stress Tests: Putting Plans Through Their Paces

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

KEY TAKEAWAYS: Stress testing is a systematic way to evaluate whether the financial (and other) expertise you use likely will deliver the results you expect. Eighty percent of single-family offices serving the Super Rich have done...

Stress Testing for Successful Business Owners

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

Key Takeaways: A stress test looks for any big gaps between what you aim to achieve as an entrepreneur and the actual results your current strategies are likely to produce. The human element—your unique situation—is a key...

Is It Time to Stress Test Your Wealth Plan?

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

KEY TAKEAWAYS Stress testing can potentially help you evaluate whether your wealth plan is on track. The real key to effective stress testing is to first understand exactly what you are trying to achieve. Consider doing a stress test...

A Super Rich Best Practice That Can Benefit You, Too!

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

KEY TAKEAWAYS Stress tests can help you see if your wealth planning has any errors that need to be addressed and fixed. They also can help you spot ways to improve your financial situation that you might have overlooked in the past....

Four Smart, Surprising Health Moves You Can Make Right Now

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

KEY TAKEAWAYS: Make flexibility, balance training and muscle recovery key parts of any workout regimen. Take the three cardiac health tests that your doctor isn’t telling you about. Make restful sleep a higher priority It’s...

Four Guidelines the Super Rich Live By

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

KEY TAKEAWAYS You define your value—don’t let others do it for you. Work your agenda—while also helping others reach their goals along the way. Surround yourself with top-tier people The self-made Super...

Five Key Considerations You Can’t Afford to Overlook When Assessing Family Offices

John Thompson CIMA®, CPWA®

Friday, January 5, 2024

Key Takeaways: The family office space is gaining more and more attention from wealthy families with complex needs. Single-family offices can offer tremendous benefits to certain wealthy families—but they’re definitely not...

KEY TAKEAWAYS: Avoid making “at risk” distributions from an estate—pay taxes and other liabilities first. As an executor, you have a fiduciary duty to ensure the estate’s ongoing financial health. Get...

KEY TAKEAWAYS: D&O insurance and EPLI help cover management liability. Cybersecurity insurance is becoming increasingly important. Make sure you’ve got enough umbrella coverage. Whether you are a seasoned business owner or a new...

KEY TAKEAWAYS: Referrals from other professionals are a top way to find great experts. Your peers, friends and associates can be another excellent resource. Look for experts who are well-known and hugely respected in their industry As...

KEY TAKEAWAYS Mastermind groups can enable many entrepreneurs to become more successful much faster than they would have otherwise. Operational benefits include new business opportunities and insightful advice. Psychological benefits...

Key Takeaways Elite wealth planning focuses on taxes, asset protection, charitable giving, lifestyle management and other key areas of concern. A focus on the person—the human element—is what really distinguishes elite...

KEY TAKEAWAYS The ability to read others and negotiate skillfully can have a major impact on your success. Low cunning is one “street smart” technique to use when doing a deal or agreement. Perspective, purpose, preparation...

KEY TAKEAWAYS: A GRAT offers two major gift and estate tax benefits: an estate freezeand a reduced taxable gift. Especially good assets to transfer to a GRAT can include growthassets, income-producing assets, and family businesses or...

KEY TAKEAWAYS: Family banks can instill financial accountability andintelligence in heirs as they seek to create value withfamily wealth. Funding family entrepreneurial ventures is a key goal ofmany family banks. Customization and...

KEY TAKEAWAYS: Over-privileged children can create big problems, eventragedy, in their own lives and the lives of their families—and even in the lives of strangers. Getting help to address both the behavior and thenegative...

KEY TAKEAWAYS: Be clear on your philanthropic principles and goals—andwrite them down. Select trustees who share values similar to yours. Smart moves with private foundations can also helpdonors who use other giving methods. Many...

KEY TAKEAWAYS: Following your passion professionally is bad advice for many entrepreneurs because it doesn’t often result in becoming rich, let alone Super Rich. Think of every business decision you make as a new...

KEY TAKEAWAYS: CRTs can provide you with an annual income stream to fund current expenses. CRTs can come with sizable tax benefits that boost your bottom line and leave more to charity. It’s crucial to set up a CRT correctly to...

KEY TAKEAWAYS: A buy-sell agreement is a legal contract between co-owners of abusiness that sets out what will happen with a co-owner’s equityif he or she dies Buy-sell agreements can be funded in several ways, including...

KEY TAKEAWAYS:A will identifies precisely what you want to have happen to yourassets and estate. Dying without a will means you have decided thatthe state knows what’s best for you and your family. ...

KEY TAKEAWAYS: A civil war over the family business can start when the founderdoesn’t plan for a transition of ownership. Temporary, shifting alliances among family members can work toyour advantage—but they’re...

KEY TAKEAWAYS:  Asset protection strategies don’t always guarantee thatyour wealth is secure.  Litigation problem-solvers and savvy attorneys can beinstrumental in negotiating a solution if you are sued. Asset...

Key Takeaways A family dynasty helps perpetuate family wealth and values for five or more generations. Consolidating family wealth can potentially help families access more attractive investment opportunities. As more heirs come into...

Key Takeaways For a fee, you can get access to often exceptional doctors with relatively small rosters of patients—enabling shorter wait times, longer visits and significantly more-personalized care. Concierge medicine can even...

KEY TAKEAWAYS The affluent are often big charitable givers—but don’t always give in ways that can maximize the benefits. Tax-wise giving has the potential to help donors mitigate taxes and enable charities to receive larger...

Key Takeaways A wealth manager delivers broad-based advanced planning along with investment management. Wealth managers as a group are experts on the technical side. An elite wealth manager’s focus is the human element—...

Key Takeaways Investment management is key, but is only the first component of wealth management.  Advanced wealth planning takes wealth management to a higher level. Truly elite wealth managers take a client-centric approach at...

Key Takeaways Wealth planning looks beyond the basics of investments to examine your larger financial picture. Trusts, partnerships and life insurance are three strategies that often are used as part of an overall wealth planning...

Key Takeaways: Too many entrepreneurs—nearly 80 percent—don’t get the quality of advice they need to attain the level of serious wealth they seek.  The reason: We believe that many financial advisors today are...

Key Takeaways Investment advisors tend to be adept at asset management. Financial advisors and wealth managers generally offer a broad range of financial solutions. Virtual family offices generally provide the largest menu of products,...

Key Takeaways Consummate professionals bring expertise and a sense of caring to the table. Pretenders, Predators and Exploiters should be avoided. Stress testing can help you determine whether the advice you’re getting is good...

Key Takeaways It’s good to know how a wealth manager selected the people who are part of his or her team of experts. Ask about how the wealth manager and the team work together to develop ideas and solutions that benefit you....

Key Takeaways A caring, curious and consultative nature is foundational to being client-centric.  Look for a process that enables an advisor to understand you on a deep level. A client-centric advisor will seek to know your values...

Key Takeaways Philanthropic advisors can help donors with planning, coordinating family members, finding the right charities and assessing the impact of charitable gifts. As your ability to give grows, so may the need to enlist a...

Key Takeaways Elite wealth planning goes beyond mere technical expertise. The human element is the personal and emotional components of wealth management. Wealth planning should be informed largely by the human element and...

Key Takeaways: About 85 percent of successful business owners’ estate plans are more than five years old—a recipe for unintended, potentially disastrous results.  Given the tax law changes that are likely coming our...

Key Takeaways: Done right, asset protection can build a wall around your wealth that creditors, litigators, ex-spouses and others find difficult to breach. Strategies include basic umbrella policies, as well as advanced Super Rich...

Key Takeaways Eighty-five percent of successful business owners work with financial advisors—but 79 percent have hired less-than-capable advisors, while 74 percent are concerned about being exploited by advisors. You must avoid...

KEY TAKEAWAYS: ■ “Plain vanilla” retirement plan options may not serve business owners’ best financial interests. ■ A select group of entrepreneurs are taking advantage of advanced retirement solutions...

There’s a lot to like about solar energy for your home—along with some dark clouds that anyone considering solar should be aware of. Discover more about panels, power grids and other aspects of solar power to help you decide if it’s right.

The Super Rich often work with a broad range of professionals to help them manage their financial lives. It might be smart for you to do the same. Here’s why and what to look for when you need help from a specialized expert.

When you sell your business, wouldn’t it be nice to pocket more of the proceeds instead of handing it over to Uncle Sam? Here are four tax-mitigation strategies that could help you do exactly that!

To achieve great things, you need to work well with other people. Discover how to help create and contribute to a team that is structured to pursue meaningful goals—for the group as a whole as well as for each member of the team.

Is your wealth protected from lawsuits and people who might take it from you unjustly? Unless you’re sure the answer is yes, it’s probably time to explore the world of asset protection planning—and how it can help shield your wealth.