UHNW Institute July Theme: Wealth, Law and Collaboration

 

Happy July 4th Week Everyone!

 

With the holiday weekend ahead, a summer in full swing and family travel top of mind, am I the only one whose mind turns to their estate plan when they head off on an international flight with family in tow?

 

This month, The Institute is exploring Estate Planning and Legal Issues, the domain that inevitably holds the keys to the kingdom when everything else comes together: the financial, the investment, the family dynamics, the risk management and so on. But how does Wealth 3.0 broaden the scope of the legal domain, and more importantly, with all the potential integration across the Ten Domains of Family Wealthhow does the legal role adapt and better collaborate and integrate with the others?

 

This month, our own Jim Grubman (Family Wealth Consulting), Thomas Handler (Handler Thayer, LLP), Kim Kamin (Gresham Partners LLC) and Domingo Such (Family Office Services Practice, Perkins Coie) will explore WEALTH 3.0 LAWYERING – HOW TO BE AN INTEGRATED ATTORNEY on Thursday, July 18 at 4pm ET for our next Roundtable, now open to non-member industry attorneys and other professionals for a small fee. Register Now!

 

Explore the Institute Resource Library resources in anticipation of the upcoming roundtable event that relates to our July theme of Wealth, Law and Collaboration.

 

PODCASTS

How Estate Planners and Other Advisors Work Together and Still Keep Communications Privileged

Kim Kamin, Michael Simon | ACTEC Foundation | 2018

This episode explores privilege in estate planning. Many clients assume their communications are always confidential, but this isn’t always the case. The episode discusses how privilege can be waived, its implications for clients and advisors and the distinction from the work product doctrine, particularly in communications involving multiple team members.

 

The Wealth of Wisdom Podcast

Tom McCullough and Keith Whitaker

The Wealth of Wisdom podcast serves as an audio companion to the Wealth of Wisdom book. Each episode features interviews with one of the over 70 global experts on family wealth who contributed essays to the book. These conversations allow contributors to discuss themselves, their work, and the ideas from their chapters. We believe these interviews offer valuable insights and hope everyone enjoys them.

 

ARTICLE

Cooking up Collaboration: What Is the Recipe for Great Collaboration, a Key Ingredient for Integration?

The UHNW Institute | 2023

This paper summarizes The UHNW Institute’s Leading Edge Innovation meeting from December 2023. The session aimed to identify key behaviors, processes and factors that enhance collaboration among wealth advisory professionals working with clients or in teams. The group also explored ways to foster collaboration in the challenging family wealth management environment, focusing on practical and observable behaviors and principles to promote effective teamwork.

 

ARTICLE

Attorney-Client Privilege in a Team Environment

David C. Blickenstaff and Kim Kamin | Gresham Partners, LLC and Schiff Hardin LLP | 2019

Privilege doesn’t apply to all client estate communications and can be easily waived, putting clients and advisors at risk. This webinar outline explores when privilege issues arise, the difference between privilege and work product, and how to maintain privilege, especially in communications involving accountants, wealth management advisors, and other estate planning team members.

 

TOOLS & RESOURCES

Effective Collaboration: A Pillar of Integrated Wealth Management

The UHNW Institute | 2021

The UHNW Institute held its third Collegium on October 28th, 2021, hosted virtually. Industry veterans facilitated sessions on aligning strategy and structure for effective collaboration, delivering integrated wealth management profitably and overcoming collaboration challenges. This summary outlines key findings and recommendations to enhance collaboration and integration for advisory firms.

 

In the meantime, we hope you’ll share your summer reading favorites HERE for our annual Institute Summer Reading List, which includes both business and pleasure reads, as well as your favorite city’s recommended hot spots for food or fun.

 

For me, my beach read would be Swift River by Essie Chambers, a book about family and its history—something we all should put effort into exploring with the families we serve. It’s a sweeping family saga about the complicated bond between mothers and daughters, and the disappearance of a father. “The book we all need to revive our souls,” (Nicole Dennis-Benn) and “A powerful novel about how our family history shapes us. Swift River broke my heart, and then offered me hope.” —Ann Napolitano, New York Times bestselling author of Hello Beautiful

 

And if in NYC, here’s a secret fave: Holy Water in Tribeca for great drinks and gumbo and Kyoto’s Geisha House for the best AirBnB rec while visiting my new favorite city in Japan!

 

-Angelique LeDoux

Managing Editor of Content

The UHNW Institute