While banks need strong online security systems, Internet users need to help in making sure online banking is secure by using anti-virus software, according to a report by Deutsche Bank. The researchers found that more than 30 percent of Internet users in Germany do not bank online because of security concerns.
Private trust companies can protect and enhance a family's wealth, but the ownership options need to be weighed carefully. In this article, Michael Stanford-Tuck of Bermuda-based Appleby Global discusses such choices as the non-charitable purpose trust, the Cayman Islands' STAR trust and the British Virgin Islands' VISTA trust.
Many clients have heard about family meetings — meetings that go beyond regular, quarterly reviews of planning items or investment results — either from their advisors or from other families of wealth. Some experiences have been wonderful while others have been less successful. Although most clients have some idea as to what family meetings are about, those perceptions are often fragmentary and based on limited personal experience. So at some point, most families ask, should we have a family meeting?
A health and education exclusion trust may offer a way to preserve assets for younger family members and avoid harsh generation-skipping taxes, while still contributing to charity. In this article, Mela Garber of Anchin, Block and Anchin explains how a HEET can be a useful and effective estate planning tool that benefits family and a designated charity while shielding wealth from GST and gift taxes.
Investors are well advised to take into account the interest rate environment when considering wealth transfer options. A new white paper from Fiduciary Trust points out the importance of interest rates in creating trusts, reviewing estate plans and loaning money to family members. The paper then examines three wealth transfer options that work well during periods of low interest rates.
This IBM report argues that many client relationship managers do not actively sell their firm. IBM also contends that there is a tremendous opportunity for wealth management firms to strategically use client attitudinal information to target and improve high-impact service interactions. Firms that get it right can strengthen their ability to improve client loyalty, increase wallet share and refine business performance.
Advisors attempting to obtain large blocks of insurance death benefit on behalf of ultra net worth clients will quickly find that there is a frustrating lack of death benefit capacity within the life insurance industry.
This research brief reports on declining UHNW client satisfaction levels among their wealth advisors and private banks.
This report by New Philanthropy Capital discusses the potential for and challenges associated with cross-border philanthropy, not least prioritizing the issues and countries that deserve attention and selecting qualified intermediaries.
A health and education exclusion trust may offer a way to preserve assets for younger family members and avoid harsh generation-skipping taxes, while still contributing to charity. In this article, Mela Garber of Anchin, Block and Anchin explains how a HEET can be a useful and effective estate planning tool that benefits family and a designated charity while shielding wealth from GST and gift taxes.