When we think about Investment, we naturally go to the assets families hold long-term. But this month, Investment will focus on more than the projects we fund and growth beyond our financial assets.
We’ll explore the multitude of ways that UHNW families are investing— beyond the markets by incorporating social impact and philanthropic initiatives in health, education, climate and other avenues that have greater ROI and the power to change global outcomes.
Join domain chair Tom McCullough, Northwood Family Office, on May 30 for the Roundtable: The Outsized Impact of Family Goals in Improving Client Management and Investment Outcomes with guests Kathy Lintz, Matter Family Office; Richard Joyner, AlTi Tiedemann Global; and Drew McMorrow, Ballentine Partners. The panel will discuss the importance of client goals in developing better financial and investment outcomes, more effectively serving client families, helping advisors improve their practice and why the full effect of this approach eludes many advisors. Tangible takeaways will include: how to run an effective client discovery process; how to articulate the family’s hierarchy of goals; translating those goals into an IPS; managing trade-offs when goals seem to be in conflict; how to manage client relationships and achieve better outcomes.
Podcast
Wealth of Wisdom Podcast – Episode 82: Investment Education for Family Members
Tom McCullough and Jim Garland
In this episode, Tom McCullough and Jim Garland delve into the story of the Jeffrey family and their investment education seminars. The Jeffrey Company, a family-owned business, created a private mutual fund and conducted seminars to educate family members on their unique investment objectives. These seminars aimed to foster family cohesion and provided valuable insights into investment fundamentals, behavioral finance, taxes and estate planning. Join us as we explore the importance of investment education for family members and its impact on family wealth preservation.
Article
Navigating the Myths of ESG Investing: A Road Map to Success | Investments & Wealth Institute
Margaret M. Towle | 2022
In this article, the author challenges some of the myths and complexities around environmental, social and governance (ESG) investing. Younger investors are actively looking to diversify; they want both return and impact from their investable funds, and they want their advisors to be knowledgeable and helpful in making this happen. As Dr. Towle points out, “Fewer than half of financial advisors have fully integrated ESG within their advisory practices….Advisors need to consider fully integrating an ESG framework rather than approaching it in a piecemeal fashion.” The benefit to advisors and their clients is significant.
Article
Investment Governance: Creating a Framework That Works for a Family | Cambridge Associates, LLC
Charlie Grace | 2019
This article provides a foundational framework and a set of best practices for family investment governance. People, authority and process are the essential building blocks of an investment governance structure. The lack of an established governance structure results in family members and advisors who cannot make decisions, risking poor returns and other adverse outcomes. The author’s straightforward graphics help demonstrate the concepts outlined.
Video
The UHNW Institute | 2023
This webinar focused on how UHNW families can use their wealth to address significant global problems. A panel of experts approached the discussion using a real-world case study: Project ALS, which seeks to find and fund a cure for the devastating disease amyotrophic lateral sclerosis. Participants learned how to help clients maximize financial impact and find purpose through charitable giving, impact investing and philanthropy.
Book
Wealth of Wisdom – Chapter 15: What Should Your Asset Allocation Be?
Jean Brunel | Wiley, 2018
In this chapter from Wealth of Wisdom, senior wealth advisor Jean Brunel ties the common question of asset allocation to the real underlying question of goals-based planning. He simplifies the seemingly complex process to a clear focus on goals that are periodically reviewed, updated and transitioned by the family with the help of their advisory team.
