When Aquilance, a company founded in 1987 that pays bills for and provides personal bookkeeping, accounting, and investment reporting to family offices, reached out in January to John Carey about becoming its new CEO, he already had some business ideas.
Carey brings more than two decades of fintech experience in wealth management and banking, servicing individuals and their trusted advisors. Aquilance has announced the appointment of John Carey as CEO. Previously the Head of Consumer Experiences for Envestnet, Carey has built a successful career creating digital technology solutions that enhance the wealth management and financial administration industry.
The Great Wealth Transfer could put more than $80 trillion in the hands of younger generations over the next two decades. But, for a variety of reasons, many baby boomers — especially the very wealthy — hesitate to pass their financial legacy onto their children.
Imagine being the reason that your college or university sells millions of dollars’ worth of tickets, merchandise, and swag. And then not seeing a dime of it. Until three years ago, you could only legally capitalize on your athletic abilities and brand if you played professionally -- but fewer than 5% of athletes actually make it to that level.
You might be surprised to discover that wealthy people tend to waste money in ways that are similar to the poor or middle class. When they are not mindful of their finances, according to the leaders at Aquilance, a personal financial administration firm that serves high net worth individuals, they can spend more than they should on everyday expenses.