By Michael M. Pompian
Compliment for Advising Ultra-Affluent consumers and relatives Offices"Michael Pompian's publication Advising Ultra-Affluent consumers and relations workplaces is noteworthy for its comprehensiveness. Michael combines 'the titanic photograph' with targeted, prescriptive, and actionable recommendations; advisers to filthy rich households will obtain an in depth realizing of ways a speedy evolving panorama affects their enterprise and its implications for his or her clients."-John Benevides, President, kinfolk place of work Exchange"This e-book can be at the examining checklist of somebody who desires to be a full-fledged specialist in our undefined. Michael Pompian has correctly selected to target sensible descriptions and proposals; for my part this can be a nice plus, as we want extra academic assets during this box. Congratulations. The e-book is easily worthy reading."-Jean L.P. Brunel, CFA, coping with imperative, Brunel affiliates, LLC"Ultra-affluent consumers wish info and recommendation built-in and in genuine time. So making plans, making an investment, and measuring develop into a continual method. this can be very demanding to do. Michael Pompian articulates a transparent and insightful street map which outlines the method, parts, and human elements had to create a sustainable world-class wealth administration program-both advisers and wealth proprietors will be clever to persist with Michael's lead."-Stephen Martiros, founder, Summitas (www.summitas.com) handling accomplice, CCC Alliance (www.cccalliance.com)"As prosperous households develop into extra globalized, their wishes for wealth maintenance and development became extra advanced and complicated in occasions of economic uncertainty. Michael Pompian has crafted an insightful and complete consultant for reinforcing your personal services and knowledge on how you can propose the main tough consumers. A must-read for all monetary advisers!"-Dr. Kurt Moosmann, MBA TEP CFP; cofounder and dealing with companion of Dara Capital Ltd., Zurich, Switzerland"Without incorporating the severe parts of powerful relations governance and the attention of generational and behavioral matters, households of wealth and their advisers are working blind of their wealth administration ambitions. Michael Pompian's booklet offers either advisers and family crucial insights for locating the chance components they have to give some thought to in modern day setting and find the assets required to supply consummate solutions."-Lisa grey, graymatter suggestions LLC, writer of the hot relatives place of work and Generational Wealth Management"Advising Ultra-Affluent consumers and kinfolk workplaces is a worthy 'handbook' that covers all of the significant parts of wealth administration. whereas Mr. Pompian has written the publication basically for wealth advisers, Advising Ultra-Affluent consumers and kin workplaces will supply beneficial insights to ultra-affluent contributors and households, fairly those people who are considering establishing a kin workplace or changing into consumers of a multifamily office."-Paul R. Perez, CFA, handling Director, kin Advisory providers, Northern Trust"I just like the method Michael Pompian offers this fabric. It covers the waterfront with a transparent, concise, and compelling therapy. This e-book will turn out worthy for kinfolk and kinfolk place of work executives. I in particular recognize the multigenerational orientation."-Bradley G. Fisher, CEO, Springcreek Advisors LLC (Multi-Family Office), Corte Madera, California
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Extra info for Advising Ultra-Affluent Clients and Family Offices (Wiley Finance)
I cover in the next section best practices of working with UACs that are rooted in actual research from interviews with UACs. WHAT ULTRA-AFFLUENT CLIENTS VALUE IN AN ADVISER Now that we have an understanding of what we shouldn’t do, let’s talk about what we should; that is, what UACs value in an adviser. A good source of information on this subject is a survey done by the Institute for Private Investors (IPI) in the fall of 2004. IPI surveyed 78 of their 366 member investors (over 75 percent of IPI’s members have greater than $50 million in assets under management) about what they value most in advisers.
Understanding the Mindset of the Ultra-Affluent Client 23 Offer Top Quality Alternative Investments Some firms claim to have top quality alternative investment access or capabilities when in reality their product selections are mediocre. One clear example of undifferentiated product capabilities is in the hedge fund of funds arena. In general, hedge funds that are on the platforms of large wire-house or bank product platforms have an inherent problem in their business. Massaffluent investors, those investing $100,000 in a hedge fund product, often need liquidity.
B. Please describe the firm’s search process for manager selection. C. How many managers does the firm currently track? D. What guidelines does the firm use to terminate managers? How many have been removed from the firm’s recommended list in the last two years? E. Is the investment of funds limited to those managers in the database? F. Are money managers required to pay fees for inclusion in the firm’s database? G. Describe the firm’s process of monitoring managers. H. How often do analysts talk to each money manager?