By Michael M. Pompian
Compliment for Advising Ultra-Affluent consumers and relatives Offices"Michael Pompian's booklet Advising Ultra-Affluent consumers and relations workplaces is noteworthy for its comprehensiveness. Michael combines 'the large photograph' with particular, prescriptive, and actionable suggestions; advisers to prosperous households will obtain an in depth knowing of the way a fast evolving panorama affects their company and its implications for his or her clients."-John Benevides, President, relations workplace Exchange"This e-book may be at the analyzing checklist of somebody who desires to be a full-fledged expert in our undefined. Michael Pompian has correctly selected to target useful descriptions and proposals; for my part it is a nice plus, as we want extra academic assets during this box. Congratulations. The booklet is definitely worthy reading."-Jean L.P. Brunel, CFA, handling critical, Brunel affiliates, LLC"Ultra-affluent consumers wish details and recommendation built-in and in actual time. So making plans, making an investment, and measuring turn into a continual approach. this is often very tough to do. Michael Pompian articulates a transparent and insightful street map which outlines the method, elements, and human components had to create a sustainable world-class wealth administration program-both advisers and wealth vendors will be clever to stick to Michael's lead."-Stephen Martiros, founder, Summitas (www.summitas.com) handling associate, CCC Alliance (www.cccalliance.com)"As prosperous households turn into extra globalized, their wishes for wealth renovation and development became extra advanced and complex in instances of monetary uncertainty. Michael Pompian has crafted an insightful and entire advisor for reinforcing your individual features and understanding on the way to suggest the main hard consumers. A must-read for all monetary advisers!"-Dr. Kurt Moosmann, MBA TEP CFP; cofounder and handling companion of Dara Capital Ltd., Zurich, Switzerland"Without incorporating the serious parts of potent relations governance and the notice of generational and behavioral concerns, households of wealth and their advisers are working blind of their wealth administration ambitions. Michael Pompian's e-book offers either advisers and relatives crucial insights for locating the chance components they have to think about in modern surroundings and to find the assets required to supply consummate solutions."-Lisa grey, graymatter innovations LLC, writer of the recent kin workplace and Generational Wealth Management"Advising Ultra-Affluent consumers and kin workplaces is a necessary 'handbook' that covers all of the significant parts of wealth administration. whereas Mr. Pompian has written the booklet essentially for wealth advisers, Advising Ultra-Affluent consumers and kin workplaces will supply beneficial insights to ultra-affluent members and households, relatively people who find themselves pondering constructing a kinfolk place of work or changing into consumers of a multifamily office."-Paul R. Perez, CFA, dealing with Director, kin Advisory companies, Northern Trust"I just like the manner Michael Pompian provides this fabric. It covers the waterfront with a transparent, concise, and compelling remedy. This booklet will turn out necessary for relations and kin place of work executives. I specially respect the multigenerational orientation."-Bradley G. Fisher, CEO, Springcreek Advisors LLC (Multi-Family Office), Corte Madera, California
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Additional resources for Advising Ultra-Affluent Clients and Family Offices (Wiley Finance)
Bringing in an expert does the important thing: It solves the problem! Call the best CPA you know and tell her about the fact that your clients need to restructure their investment vehicle structure because it’s too complex to make effective investment decisions. Call the best family counseling person you know and invite him to speak to the family member best positioned to introduce positive change to the family cohesion issues. And bring your chief investment officer to your next meeting. You will be the hero at the end of the day.
For example, a family office might offer a full spectrum of noninvestment services—accounting, estate planning, family counseling, life insurance, trust services, bill paying, record keeping, family governance, and so on—while at the same time integrating investments into these processes. UACs want their advisers to create a comprehensive solution that pulls these disparate areas together into a smooth-running operation. For example, they want their estate plan integrated with their insurance plan, which is integrated with their philanthropic plan, which is integrated with their tax plan.
1. Basic Firm Information A. Provide the name, address, telephone numbers, and e-mail address of the key contact for us at the firm. B. Please provide a brief history of the firm. C. What services does the firm offer? D. Has the firm been a party to any merger, sale, or acquisition? Are there any planned transactions? 34 INTRODUCTION TO ADVISING ULTRA-AFFLUENT CLIENTS AND FAMILY OFFICES E. Please list the firm’s principals and their backgrounds. F. Describe the ownership structure of the firm. Are there any unique aspects that encourage the retention of key personnel?