3 Lifestyle Changes for Clients Who Are New to Wealth
In some cases, families have remained wealthy for generations and have successfully been able to transfer their assets to children and grandchildren, who then carry the torch.
Ultra-Wealthy Families Make Big Money Mistakes Too
Many ultra-high-net-worth individuals and families take great pains to surround themselves with top-tier registered investment advisors, certified public accountants, tax attorneys and other advisors that range from prominent art dealers to high-end insurance agents.
I’m an Advisor to Wealthy Families: 7 Little Changes That’ll Make Your Money Last for Generations
You may have heard of the third-generation curse, which causes 90% of wealthy families to lose their money by the third generation. But some individuals manage to deplete their wealth even sooner, especially if they came into a lot of money quickly.
Avoidable Mistakes For The Suddenly Wealthy
It’s not unusual for Joe Farren and his team of financial experts to occasionally come across clients who have suddenly inherited a windfall and are not equipped to manage the influx of money.
Getting a bead on wealthy clients’ spending habits — and why it matters
It's a dilemma almost every high net worth financial advisor has faced — being blindsided by a client's big-ticket purchase so large that it limits their investable funds.
Shipping Billionaires Race To Invest Pandemic-Era Fortunes
Many of the fortunes forged during the pandemic have long since crumbled. Yet a $95 billion boom among a small group of wealthy shipping tycoons has prevailed, spurring a mad dash to invest and diversify even as they face a comeuppance.
Millennials May Not Inherit As Much As They Expect, Financial Execs Say
Although the amount of money millennials are set to inherit from their baby boomer parents over the next decade is measured in the trillions of dollars, many individual millennials probably will inherit less than they are anticipating, according to a money manager for wealthy families.
Rising Wealth Demands Vigilance Against Fraudsters, Cyber Security Execs Say
As the number of millionaires in the world grows, so does the available targets for fraudsters, said the owners of a firm that focuses on assisting high-net-worth clients and family offices.
Rich Wall Streeters Face Shock Tax Hike While Rest of Wealthy Escape
Wealthy Americans, who were girding for the biggest set of tax increases in three decades just a year ago, now look mostly safe from higher levies for years to come.
Proposed end of carried interest would mean tax hike for rich Wall Streeters
The tax deal in the Senate would eliminate the tax break used by private equity and hedge fund managers.