Many business owners worry about how their success and wealth will impact their loved ones and the next generation. The fear behind it can hinder the ability of future generations to build on past success and even lead to family tension. To successfully move past the fear-based planning and toward a collaborative approach, five secrets and action items of successful families demonstrate how to effectively transfer the family wealth and values.
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Ransomware is one of several common cybersecurity risks companies face today. In addition to being a victim of a cyber attack, these companies may become the target of lawsuits alleging a variety of harms, including failure to deliver contractual promises and negligent cybersecurity practices. By being prepared and employing practical strategies, companies can safeguard against a ransomware attack and mitigate other cybersecurity risks.
In the dealmaking environment, the general aviation sector has been resilient through the pandemic. The sector's rebound that started in the second half of 2020 portends good things for it and the fixed base operators (FBOs) that serve the airports—even in the face of broader economic headwinds. The sector's endurance tracks with what history has shown—that high-net-worth individuals will keep flying. That means strong long-term FBO deal potential and short-term opportunities in the right markets.
The threat of recession is real as the global economy remains at a critical juncture. In the U.S. and Europe, inflation is at a multidecade high. Since the start of the year, the Federal Reserve has raised its policy rate multiple times, by 50 to 75 basis points per meeting. Will the Fed be successful in getting inflation back to target and delivering a softish landing? The answer will hinge on three key policy drivers.
What is the value of financial advice? This question is of utmost importance to financial advisors, investors, and the finance industry in general. By putting a number on the value of their advice, financial advisors can surface the highest-value advice interventions and demonstrate their value to clients to retain and attract more business. The value of this personalized advice is illustrated through a four-part framework, methodology model, and four hypothetical case studies.
On September 30, 2022, the Department of the Treasury issued final rules addressing the scope of the reporting requirements for beneficial ownership and control of entities provided under the Corporate Transparency Act (CTA), which creates more clarity for families looking to understand their reporting requirements and potential exceptions. While the CTA rules will likely create a compliance burden for many wealthy families with complex structures, it is clear that having a regulated Private Trust Company as a central part of the structure should lessen that burden.
A large and growing cohort of next generation (next gen) investors in the Asia-Pacific (APAC) are preparing to take on the responsibility of managing their family’s wealth and take on an active role in maintaining sustainable generational success.
On September 29, 2022, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued its Final Rule implementing the beneficial ownership information reporting requirements of the Corporate Transparency Act legislation. The Final Rule brings about significant revisions to the U.S. anti-money laundering/countering the financing of terrorism compliance framework, implementing sweeping beneficial ownership disclosure requirements applicable to all U.S.
In the hospitality space, hotels are a unique asset that can be viewed as an operating business that makes them different and more complex than other real estate assets and holdings. While recovery in the industry has been uneven—with big box meeting hotels struggling and luxury resorts doing well—there are investment opportunities, including the distressed hotels. In this ten minute interview, Clifford Risman and Brian Lucareli discuss the investment opportunities and the market factors impacting them.
A well-defined governance system is what drives a strategy for portfolio investments—all the while increasing a family’s ability to formulate its goals and policies, make decisions, and perform an oversight function. This paper can help families in the development of their own decision-making framework and focuses on three core building blocks of investment governance: (1) people, (2) authority, and (3) process. It also takes a close look at the potential benefits of the investment committee model and presents a set of best practices for families to consider.