Family Business and Its Future: A Plan for Ownership Succession Training
Stephen G. Salley, Senior Partner, Family Business Center and Fiduciary Services, GenSpring
This white paper explores the importance of both ownership succession and management succession in a family business If a family enterprise is to succeed through multiple generations, the same amount of energy must be devoted to one as to the other. Know More
Health Care Reform—2010
By Wealth Advisory Center, GenSpring Family Offices
Healthcare reform in 2010. What does it mean for ultra-high net worth families? This comprehensive but brief overview of the new reforms and the implications they can have on wealthy individuals and their families sheds light on the murky waters of the recent changes. From wealthy individuals to business owners to multi-generational families all are impacted and in order to prepare for important decisions to be made ahead, it is imperative to know how these changes may affect you. Know More
Not All Advisors Are the Same—How Can You Tell the Difference?
By Maria Elena Lagomasino, GenSpring Chief Executive Officer
Over the last dozen years the lines that once existed between firms selling investment products and those advising on their merits have become blurred. Regrettably, regulatory agencies have failed to keep abreast of this change by not requiring banks and broker-dealers to adhere to the same fiduciary standard which has always applied to investment advisors. In this white paper, GenSpring's CEO explains how to tell the difference between a wealth management firm that is selling investment products and one that is your advocate and advises solely on the merits. Know More
Advisor Alignment: The Emerging Choice of Wealthy Families
By Michael Zeuner, Senior Executive Partner, and Steve Barimo, Chief Marketing Officer
The wealth management landscape has come to be characterized by complexity and conflicts of interest, presenting significant challenges for wealthy families. How, then, does one obtain quality wealth management advice and services with no conflicts of interest? Know More
America's Looming Philanthropic Revolution
By Paul G. Schervish, Director, Center on Wealth and Philanthropy, Boston College
There are now over 11,000 US households with a net worth of over $100 million and 115,000 with a net worth greater than $25 million. Exploring our motives and moral biography represents the first step in answering the question of how well we will use wealth to obtain a deeper purpose of life. Know More
7 Tips to Overcoming Prenup Paralysis
By Kirby Rosplock, PhD, Director, Research & Development, GenSpring
Prenuptial agreements are becoming a more prevalent part of the marriage process, but most parents, children, and of course, young engaged couples, often find this subject very difficult to discuss. This paper provides helpful insight into addressing this sensitive and often taboo subject. Know More
Breaking the Silence: Helping Clients Discuss Estate Plans with their Families
By David Bokman, Chief Wealth Advisory Officer, GenSpring Family Offices
Wealth is a very sensitive topic to most people, and discussing it honestly with others is often extremely uncomfortable. A thoughtful advisor can help clients more honestly assess their genuine motives, without judging them, and assist in developing a plan that better aligns actual giving behavior with the client's motives. Know More
Capital Sufficiency Analysis
Capital Sufficiency Analysis is the process of determining whether your family's existing and anticipated financial resources will allow you to achieve your financial and estate planning goals. The analysis provides a framework for making decisions about future spending, investment allocation, estate and philanthropic planning. Know More
Family Accord: Best Practices for the Family Enterprise Start with the Family
By Stephen G. Salley, Esq., Family Business Advisory Center, GenSpring Family Offices
Even the most successful family enterprises can be devastated by the complexities and challenges that arise at the dynamic but turbulent interface between the family and the business. How can families improve the odds for successfully perpetuating the family enterprise to future generations? Know More
Manager Selection: More than Just Performance Numbers
By Andrew P. Mehalko CFA, Chief Investment Officer, GenSpring Family Offices
This paper explores the difference between GenSpring's manager selection and that of other major Wall Street firms. Our process does not rely solely on performance numbers, but rather a manager's future expected performance compared to that of their peers. This methodology has proven successful for our client families time and time again. Know More
Myth or Reality: What Do Women Really Want?
By Kirby Rosplock, Ph.D., Director of Research & Development, GenSpring Family Offices
What is it that women really want when it comes to managing their wealth? This concise two-page paper compares six common myths about women and wealth to the realities uncovered in the GenSpring Family Offices 2006 Women & Wealth study. Know More
Peace of Mind for Generations: Our Multi-Family Office Solution
By David Bokman, Chief Wealth Advisory Officer, GenSpring Family Offices
In recent years, the multi-family office (MFO) concept has been attracting some of the wealthiest families. GenSpring Family Offices realizes that for families to sustain wealth, they must engage in activities that go beyond managing their money. Know More
Protecting Purchasing Power in Inflationary and Deflationary Environments
By Andrew Mehalko, CFA, Chief Investment Officer, GenSpring Family Offices
GenSpring Family Offices must position our families' portfolios to be prepared for any outcome so that we can succeed on our objective of protecting, maintaining, and growing capital despite difficult conditions. Know More
25 Best Practices of Multi-Generational Families
By Steve Barimo, Chief Marketing Officer; Kirby Rosplock, Director of Research & Development, and Jill Shipley, Director of Next Generation Education
Research suggests that the odds of sustaining wealth across generations are as low as 30%. Through collaboration with experts, internal research, and working with more than 700 of the world's wealthiest families, GenSpring has identified 25 non-financial best practices that we believe enhance a family's ability to sustain family wealth across generations. Know More
Wealth: Burden or Opportunity
By David Bokman, Chief Wealth Advisory Officer, GenSpring Family Offices
Wealthy individuals often harbor negative feelings about their wealth: guilt, shame, or regret, but often these feelings are not discussed or acknowledged. Wealth transfer decisions made around these negative feelings can lead to resentment, dysfunction and conflict. To resolve these feelings, one must become truly aware of and accept them. Know More
Freedom within a Framework: The Key to Raising Responsible Owners of Wealth
By Jill Shipley, Director of Next Generation Education, GenSpring Family Offices
Though the challenges to successful wealth transfer across generations may seem overwhelming, they can be overcome. Freedom within a Framework provides an outline for how families can educate and prepare their heirs for the opportunities and obstacles that lie ahead. Know More
Due Diligence
By Investment Advisory Center, GenSpring Family Offices
Due diligence is the foundation upon which leading investment advisors base their investment decisions and is an integral part of the daily work at GenSpring Family Offices. We consider it our professional duty to continually seek ways to do better research, and although no due diligence process can eliminate all risks and/or fraud potential, we constantly strive to employ best practices in our process. Know More
Roth IRA Conversion Opportunity
By Jay Allen, Director of Financial Capital
Wealth Advisory Center, GenSpring Family Offices
The elimination of the income limitations for Roth IRA Conversions has greatly expanded the number of taxpayers eligible to benefit from a Roth IRA. This article provides an overview of the new rules effective January 1, 2010, and discusses some of the factors that taxpayers should consider when contemplating a conversion. Know More
July, 2010 Investment Update:
Global Financial Market Perspective
By Andrew Mehalko, Chief Investment Officer, GenSpring Family Offices
Every quarter, Andrew Mehalko, GenSpring's chief investment officer writes a market overview and commentary for client families to give them a global financial market perspective. This report provides an overview of the market from a GenSpring point of view. Know More
Wealth Alignment Study Summary of Key Findings
By Kirby Rosplock, Ph.D., Director of Research & Development, GenSpring Family Offices
This GenSpring Family Offices study provides a deeper understanding of similarities and differences between men's and women's perceptions of wealth, involvement, awareness and decision making, family wealth practices, and wealth transfer intentions. Know More
Men & Wealth Study Summary of Key Findings
By Kirby Rosplock, Ph.D., Director of Research & Development, GenSpring Family Offices
Men play a central role in the decision making for most affluent families, and understanding their views, attitudes, and practices may help us better understand their intentions for their family's wealth. This 2007 GenSpring Family Offices study of over 100 affluent men reveals insights about their views, attitudes, perceptions, and wealth transfer intentions. Know More
Women & Wealth Study Summary of Key Findings
By Kirby Rosplock, Ph.D., Director of Research & Development, GenSpring Family Offices
In 2006, GenSpring Family Offices sponsored a study of over 100 affluent women to determine their knowledge, awareness and involvement, decision making and communication, family experiences around wealth, attitudes, values and practices for wealth preservation; wealth transfer intentions, and preferred characteristics for their wealth advisor. Know More
10 Keys to Integrated Wealth Planning
By David Bokman, Chief Wealth Advisory Officer, GenSpring
Families of significant wealth often own a diverse mix of assets, including multiple residences, less liquid alternative or private equity investments, and valuable collectibles. David Bokman discusses 10 key factors that must be taken into account in order to create and maintain a flexible wealth management plan that reflects the family's priorities and diverse mix of assets and balances risk, cost, and complexity. Know More
Beyond Liquidity: A Framework for Assessing the Life Insurance needs of the Ultra-High Net Worth
By Jay Allen, Director of Financial Capital (Estate Planning), Wealth Advisory Center
Several common "myths" lead wealthy people to avoid life insurance, even when there may be a legitimate need, or to purchase life insurance for the wrong reasons. Life insurance can be an important risk management tool for some ultra-high net worth individuals who need to address concerns about survivor income, estate tax liquidity, or estate equalization. Know More
Sustainability: The Springboard for Future Generations
By Maria Elena Lagomasino, Chief Executive Officer; Michael Zeuner, Senior Executive Partner; and Steve Barimo, Chief Marketing Officer
While many wealthy people desire to pass most of their wealth to their children, grandchildren, and other heirs, they often grapple with a fundamental question: "Can our wealth benefit our generation and be passed on to future generations while also having a positive impact on those future generations? Our experience tells us that sustaining family wealth is indeed possible. Know More
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7 Tips to Overcoming Prenup Paralysis
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By Kirby Rosplock, PhD, Director, Research & Development, GenSpring
Prenuptial agreements are becoming a more prevalent part of the marriage process, but most parents, children, and of course, young engaged couples, often find this subject very difficult to discuss. This paper provides helpful insight into addressing this sensitive and often taboo subject.
10 Keys to Integrated Wealth Planning
Show Summary
Hide Summary
By David Bokman, Chief Wealth Advisory Officer, GenSpring
Families of significant wealth often own a diverse mix of assets, including multiple residences, less liquid alternative or private equity investments, and valuable collectibles. David Bokman discusses 10 key factors that must be taken into account in order to create and maintain a flexible wealth management plan that reflects the family's priorities and diverse mix of assets and balances risk, cost, and complexity.
July, 2010 Investment Update: Global Financial Market Perspective
Show Summary
Hide Summary
By Andrew Mehalko, CFA, Chief Investment Officer
Every quarter, Andrew Mehalko, GenSpring's chief investment officer, writes a market overview and commentary for client families to give them a global financial market perspective. This report provides an overview of the market from a GenSpring point of view.
25 Best Practices of Multi-Generational Families
Show Summary
Hide Summary
By Steve Barimo, Chief Marketing Officer; Kirby Rosplock, Director of Research & Development, and Jill Shipley, Director of Next Generation Education
Research suggests that the odds of sustaining wealth across generations are as low as 30%. Through collaboration with experts, internal research, and working with more than 700 of the world's wealthiest families, GenSpring has identified 25 non-financial best practices that we believe enhance a family's ability to sustain family wealth across generations.
Advisor Alignment: The Emerging Choice of Wealthy Families
Show Summary
Hide Summary
By Michael Zeuner, Senior Executive Partner, and Steve Barimo, Chief Marketing Officer
The wealth management landscape has come to be characterized by complexity and conflicts of interest, presenting significant challenges for wealthy families. How, then, does one obtain quality wealth management advice and services with no conflicts of interest?
America's Looming Philanthropic Revolution
Show Summary
Hide Summary
By Paul G. Schervish, Director, Center on Wealth and Philanthropy, Boston College
There are now over 11,000 US households with a net worth of over $100 million and 115,000 with a net worth greater than $25 million. Exploring our motives and moral biography represents the first step in answering the question of how well we will use wealth to obtain a deeper purpose of life.
Beyond Liquidity: A Framework for Assessing the Life Insurance needs of the Ultra-High Net Worth
Show Summary
Hide Summary
By Jay Allen, Director of Financial Capital (Estate Planning), Wealth Advisory Center
Several common "myths" lead wealthy people to avoid life insurance, even when there may be a legitimate need, or to purchase life insurance for the wrong reasons. Life insurance can be an important risk management tool for some ultra-high net worth individuals who need to address concerns about survivor income, estate tax liquidity, or estate equalization.
Breaking the Silence: Helping Clients Discuss Estate Plans with their Families
Show Summary
Hide Summary
By David Bokman, Chief Wealth Advisory Officer, GenSpring Family Offices
Wealth is a very sensitive topic to most people, and discussing it honestly with others is often extremely uncomfortable. A thoughtful advisor can help clients more honestly assess their genuine motives, without judging them, and assist in developing a plan that better aligns actual giving behavior with the client's motives.
Capital Sufficiency Analysis
Show Summary
Hide Summary
Capital Sufficiency Analysis is the process of determining whether your family's existing and anticipated financial resources will allow you to achieve your financial and estate planning goals. The analysis provides a framework for making decisions about future spending, investment allocation, estate and philanthropic planning.
Due Diligence
Show Summary
Hide Summary
By Investment Advisory Center, GenSpring Family Offices
Due diligence is the foundation upon which leading investment advisors base their investment decisions and is an integral part of the daily work at GenSpring Family Offices. We consider it our professional duty to continually seek ways to do better research, and although no due diligence process can eliminate all risks and/or fraud potential, we constantly strive to employ best practices in our process.
Family Accord: Best Practices for the Family Enterprise Start with the Family
Show Summary
Hide Summary
By Stephen G. Salley, Esq., Family Business Advisory Center, GenSpring Family Offices
Even the most successful family enterprises can be devastated by the complexities and challenges that arise at the dynamic but turbulent interface between the family and the business. How can families improve the odds for successfully perpetuating the family enterprise to future generations?
Family Business and Its Future: A Plan for Ownership Succession Training
Show Summary
Hide Summary
By Stephen G. Salley, Senior Partner, Family Business Advisory Center, GenSpring Family Offices
Even the most successful family enterprises can be devastated by the complexities and challenges that arise at the dynamic but turbulent interface between the family and the business. How can families improve the odds for successfully perpetuating the family enterprise to future generations?
Freedom within a Framework: The Key to Raising Responsible Owners of Wealth
Show Summary
Hide Summary
By Jill Shipley, Director of Next Generation Education, GenSpring Family Offices
Though the challenges to successful wealth transfer across generations may seem overwhelming, they can be overcome. Freedom within a Framework provides an outline for how families can educate and prepare their heirs for the opportunities and obstacles that lie ahead.
Health Care Reform 2010
Show Summary
Hide Summary
By Wealth Advisory Center, GenSpring Family Offices
Healthcare reform in 2010. What does it mean for ultra-high net worth families? This comprehensive but brief overview of the new reforms and the implications they can have on wealthy individuals and their families sheds light on the murky waters of the recent changes. From wealthy individuals to business owners to multi-generational families all are impacted and in order to prepare for important decisions to be made ahead, it is imperative to know how these changes may affect you.
Manager Selection: More than Just Performance Numbers
Show Summary
Hide Summary
By Andrew P. Mehalko CFA, Chief Investment Officer, GenSpring Family Offices
This paper explores difference between GenSpring's manager selection and that of other major Wall Street firms. Our process does not rely solely on performance numbers, but rather a manager's future expected performance compared to that of their peers. This methodology has proven successful for our client families time and time again.
Men & Wealth Study Summary of Key Findings
Show Summary
Hide Summary
By Kirby Rosplock, Ph.D., Director of Research & Development, GenSpring Family Offices
Men play a central role in the decision making for most affluent families, and understanding their views, attitudes, and practices may help us better understand their intentions for their family's wealth. This 2007 GenSpring Family Offices study of over 100 affluent men reveals insights about their views, attitudes, perceptions, and wealth transfer intentions.
Myth or Reality: What Do Women Really Want?
Show Summary
Hide Summary
By Kirby Rosplock, Ph.D., Vice President, Research & Development, GenSpring Family Offices
What is it that women really want when it comes to managing their wealth? This concise two-page paper compares six common myths about women and wealth to the realities uncovered in the GenSpring Family Offices 2006 Women & Wealth study.
Not All Advisors Are the Same—How Can You Tell the Difference?
Show Summary
Hide Summary
By Maria Elena Lagomasino, chief executive officer, GenSpring Family Offices
Over the last dozen years the lines that once existed between firms selling investment products and those advising on their merits have become blurred. Regrettably, regulatory agencies have failed to keep abreast of this change by not requiring banks and broker-dealers to adhere to the same fiduciary standard which has always applied to investment advisors. In this white paper, GenSpring's CEO explains how to tell the difference between a wealth management firm that is selling investment products and one that is your advocate and advises solely on the merits.
Peace of Mind for Generations: Our Multi-Family Office Solution
Show Summary
Hide Summary
By David Bokman, Chief Wealth Advisory Officer, GenSpring Family Offices
In recent years, the multi-family office (MFO) concept has been attracting some of the wealthiest families. GenSpring Family Offices realizes that for families to sustain wealth, they must engage in activities that go beyond managing their money.
Protecting Purchasing Power in Inflationary and Deflationary Environments
Show Summary
Hide Summary
By Andrew Mehalko, CFA, Chief Investment Officer, GenSpring Family Offices
GenSpring Family Offices must position our families' portfolios to be prepared for any outcome so that we can succeed on our objective of protecting, maintaining, and growing capital despite difficult conditions.
Roth IRA Conversion Opportunity
Show Summary
Hide Summary
By Jay Allen, Director of Financial Capital
Wealth Advisory Center, GenSpring Family Offices
The elimination of the income limitations for Roth IRA Conversions has greatly expanded the number of taxpayers eligible to benefit from a Roth IRA. This article provides an overview of the new rules effective January 1, 2010, and discusses some of the factors that taxpayers should consider when contemplating a conversion.
Sustainability: The Springboard for Future Generations
Show Summary
Hide Summary
By Maria Elena Lagomasino, Chief Executive Officer; Michael Zeuner, Senior Executive Partner; and Steve Barimo, Chief Marketing Officer
While many wealthy people desire to pass most of their wealth to their children, grandchildren, and other heirs, they often grapple with a fundamental question: "Can our wealth benefit our generation and be passed on to future generations while also having a positive impact on those future generations? Our experience tells us that sustaining family wealth is indeed possible.
Wealth: Burden or Opportunity
Show Summary
Hide Summary
By David Bokman, Chief Wealth Advisory Officer, GenSpring Family Offices
Wealthy individuals often harbor negative feelings about their wealth: guilt, shame, or regret, but often these feelings are not discussed or acknowledged. Wealth transfer decisions made around these negative feelings can lead to resentment, dysfunction and conflict. To resolve these feelings, one must become truly aware of and accept them.
Wealth Alignment Study Summary of Key Findings
Show Summary
Hide Summary
By Kirby Rosplock, Ph.D., Director of Research & Development, GenSpring Family Offices
This GenSpring Family Offices study provides a deeper understanding of similarities and differences between men's and women's perceptions of wealth, involvement, awareness and decision making, family wealth practices, and wealth transfer intentions.
Women & Wealth Study Summary of Key Findings
Show Summary
Hide Summary
By Kirby Rosplock, Ph.D., Director of Research & Development, GenSpring Family Offices
In 2006, GenSpring Family Offices sponsored a study of over 100 affluent women to determine their knowledge, awareness and involvement, decision making and communication, family experiences around wealth, attitudes, values and practices for wealth preservation; wealth transfer intentions, and preferred characteristics for their wealth advisor.
GenSpring has a different, more comprehensive, way of thinking about families and wealth
GenSpring has created a community of wealth management professionals who share similar values and together put unprecedented control, power, knowledge and opportunity squarely on a family's side of the table.
Women & Wealth Study: Summary of Key Findings
In the summer and fall of 2006, GenSpring sponsored a study to determine the knowledge, involvement, awareness, decision making, attitudes, and wealth transfer intentions of wealthy women. This summary of key findings gives an overview of the results.
Men & Wealth Study: Summary of Key Findings
In 2007, GenSpring conducted the Men & Wealth Study which largely replicates the methodology from the preceding Women & Wealth Study. The Summary of Key Findings gives an overview of the results.
Alignment Study: Summary of Key Findings
In GenSpring's Alignment Study, data from the earlier Women & Wealth and Men & Wealth studies was combined to explore similarities and differences as they relate to wealth between the sexes. From this analysis, the Summary of Key Findings provides a concise overview of the salient results.