As part of an ongoing series, Truepoint is sharing ideas to help educate your children about financial issues and to help you prepare for their financial future. For wealthy families, the last and most significant part of educating children and grandchildren about financial matters may involve an inheritance. Because inheritances
Alexandra is a wealth advisor specializing in working with multi-generational family clients while Ryan's role as a wealth advisor allows him the opportunity to encourage money conversations within families. In this Viewpoint, they collaborate to bring awareness to an often overlooked piece of wealth transfer success. Clients often talk to us about
Like many working mothers, I have been greatly intrigued by Lean In, the book by Facebook Chief Operating Officer Sheryl Sandberg, who is generally viewed as the most prominent female in business today. I admire Sandberg for sharing her real struggles to integrate family demands with a hugely dynamic career.
A recent Wall Street Journal article hit home for me. “Lost Inheritance” tells the story of Tom Rogerson, whose great-grandfather created substantial wealth as a banking titan. Subsequent generations, including Tom’s father, squandered the wealth through expensive hobbies and poor business decisions. The sad ending was a forced liquidation auction.
There is a common perception among wealthy individuals that the greatest source of conflict after a family matriarch or patriarch dies is the distribution of the family fortune. And no wonder. Emotions and anxieties are often most intense during the grieving period immediately following the death of a senior family
When we hear about “philanthropists,” most of us probably think of extremely wealthy individuals, families and foundations, like Bill and Melinda Gates, Warren Buffett, the Carnegies and the Fords. Therefore, philanthropy often seems like an “out of reach” aspiration for the rest of us – we merely give charitably when
Truepoint recently held its fourth Annual Client Meeting at the Cincinnati Art Museum. The event was well attended and featured noted journalist James Surowiecki as keynote speaker. Mr. Surowiecki, the financial columnist for The New Yorker, is best known for authoring New York Times business bestseller The Wisdom of Crowds. His
In the midst of this significant turmoil in the financial markets, we convened our second Annual Client Meeting at the Cincinnati Art Museum. Nearly 250 clients and guests attended and heard a brief recap of our firm’s progress, achievements and strategic plans. For obvious reasons, the program focused on the
Not too long ago, a Truepoint client mentioned in passing some concerns he had about his parents' current portfolio and financial plan. He didn't have full visibility into their situation and his parents were somewhat reluctant to answer his questions. He didn't want to meddle, but he worried about their
At our recent annual client meeting, noted author Dr. Lee Hausner described a number of strategies for effective wealth management that also serve to strengthen families. In Dr. Hausner’s view, family strength comes from active efforts to build and preserve human, intellectual and social capital, in addition to financial capital.