Examples of Conflicts Banker is incentivized to sell products that are proprietary while the client believes he provides objective advice on a broader array of products and services. Questions Wealth Owners Should Ask What are the limitations of the advice you are able to give me? What services are prov...
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Examples of Conflicts of Interest Manager directs trades to a firm to access research and client reporting services (soft dollar benefits) Manager charges a full active management fee when most of the portfolio is indexed. Questions Wealth Owners Should Ask to Surface Conflicts How do you determine which brokerage firms execut...
Examples of Conflicts of Interest Accountant recommends strategies that benefit a third party without explaining the involvement of the additional parties. Advisor recommends a service offering that is not the best solution for the client. Questions Wealth Owners Should Ask to Surface Conflicts How...
table, tbody, td, tfoot, th, thead, tr { border:1px; } A well-constructed team of advisors leverages the expertise and experience of each team member for the benefit of the owner. This chart summarizes some of the most common types of financial service providers wealth owners rely on for integrated solutions. Many of these firms offe...
The four boad games below help make learning important financial concepts fun. Blast the Money Trap! adapted from the product website: Blast the Money Trap combines the fun of a board game with an exploration of using money as a tool to “Blast” out of The Money Trap through buying assets. Players move through the game, making cho...
Non-Fiction Books Fast Cash for Kids Bonnie J. Drew and Noel Drew (Career Press, 1995) adapted from the product website: This book offers dozens of moneymaking activities that kids can undertake year-round, a helpful step-by-step business plan, and true-life success stories of young entrepreneurs. The Kid’s Guide to Mo...
Finding the Right Fit – Boutique or Financial Institution? For many wealth owners, one of the key questions in selecting the proper wealth advisor is to decide whether you want to be a client of a smaller boutique firm that is independently owned by a group of principals that may include management, employees and/or family clients, or served by ...
Managing family wealth is a business like no other. The work requires in-depth, technical knowledge of the financial goals and services (investment, tax and wealth transfer planning, and philanthropy) needed to grow the family’s financial capital, combined with the leadership skills and emotional intelligence required to cultivate the family’s grea...
Examples of Conflicts of Interest Trustee does not adequately explain portfolio risk to beneficiaries. Trustee places the risk of the trust company ahead of the goals of the trust beneficiaries. Questions Wealth Owners Should Ask to Surface Conflicts How do you address beneficiaries who are unhappy with your...
The following websites provide a wide range of information, programs and activities designed to educate young people about managing their money. CNN Money 101 adapted from the product website: This is an online parent’s guide to kids and money. It will help parents teach children and set them on the road to handling money re...
Examples of Conflicts of Interest Firm charges taxable clients higher fees and commissions than other institutional clients. Questions Wealth Owners Should Ask to Surface Conflicts Do you give your custody clients the best trading prices that you offer to other clients? Do you charge the same fee for cash management services th...
A Field Guide to Business Valuation Casey Karlsen and Seth Webber, 2022 adapted description from Business Valuation Resources Focused on the valuation of privately held businesses, this easy-to-follow and usable guide is intended for business owners and their advisors who want to learn more about how to estimate what a business is worth, ...
As the Family Grows, Complexity Increases The goals and circumstances of the family group dictate the complexity of the family’s wealth management needs. A common misconception is that asset size is the most important factor in determining wealth management needs. Often more important are factors such as the number of family members or household...
Engaged Healthy, Wealthy & Wise: Lessons from Inheritors and Their Significant Others on How They Have Navigated Love and Family Wealth And Forged Their Own Join Path Coventry Edwards-Pitt, 2023 adapted description from Amazon.com: When a young inheritor announces that they have met “the one”—their chosen life partner whom...
There are many resources and games available for teaching children about different aspects of managing money, investing, and philanthropy. Games are great, because they disguise learning under the cover of fun. Often, if you sit children down in a classroom-like environment and start lecturing about spending and saving, they’ll switch ...