Why the wealthy are not satisfied with their money

Jacoline Loewen

A business owner and her husband recently sold her family business for $50 million. When we met a few months after the sale, we talked about how her life was unfolding. Keep in mind that she and her husband had worked together for thirty years in their business.  Their favourite saying was, "When the client says JUMP, we say, how high?" You can gather that this couple were A type personalities and the level of adrenaline they created in their business had been enjoyable to them as a couple.  Now that pressure was completely removed. They could also now afford anything they wanted. All those trips they had postponed to keep their business humming were now available and they had the time.

The family went on a high-end cruise which sounds wonderful, but there was not a business for them with its pressures and its processes and people to great them after a relaxation period.  They had not replaced their busy and high pressured lives yet. Hopefully, they will find a new journey to challenge them.

This dissatisfaction with the new wealth and the freedom it brings can also amplify boredom and lack of purpose in people's lives. It is common with people who make sudden wealth. Money magnifies who they are.  If they were workoholics, it will be a while to find new ventures and challenges.

At a certain point, another million dollars doesn’t make anything newly affordable. That’s when other motivations take over.

This article in The Atlantic sums up this man's issue perfectly.

Excerpt:

As the number of millionaires and billionaires in the world climbs ever higher, there are a growing number of people who possess more money than they could ever reasonably spend on even the lushest goods.

But at a certain level of wealth, the next million isn’t going to suddenly revolutionize their lifestyle. What drives people, once they’ve reached that point, to keep pursuing more?

There are some good explanations, I found, after talking to a few people who’ve spent significant amounts of time in the presence of and/or researching the really, really rich. Michael Norton, a Harvard Business School professor who has studied the connections between happiness and wealth, had a particularly elegant model for understanding this pattern of behavior.


This article in The Atlantic

These 29 Retirement Tips May Surprise You

Tip #12: Beware of Annuities

My clients do not to have annuities in their portfolios, and with good reason. These complicated, lengthy contracts favour the companies that write them, not you. Annuity sales people get high commissions that come straight off the top of your investment savings. You can manage your retirement-income security needs in ways that'll cost you less. Said simply, if someone's going to guarantee you an income in an uncertain world, they're going to charge you enough to ensure the odds are in their favor - not yours.

Jacoline Loewen and Team

Annuities are for those who do not have a clue about how to manage their wealth and do not have a client advisor to assist them.  

If you would like a copy of the 29 Retirement Tips book, send me an email and I will forward you a copy.

 

Gain unique insight on a range of retirement topics, from investing and financial planning to travel and lifestyle, based on decades of experience working with successful retirees. This entertaining 31-page guide is chock-full of information to help you get the most out of your retirement, including:

•Tips to help you maximize your nest egg and avoid running out of money in retirement

•Ideas for making the most of time with your family and friends

•Methods to generate income in retirement

•Activities to keep your mind sharp and your body active

•Estate-planning steps so you can relax and enjoy life

Created for investors with $2,000,000+ in investible assets 29 Retirement Tips from Jacoline Loewen are for retirees and those planning for retirement. In addition to the tip above, other tips include:

•Tip #11: Living abroad can be great

•Tip #16: How to discuss your asset allocation and plans with your family

•Tip #20: Consider new fields other than the career you retired from

•Tip #24: Be diversified, but not too diversified

 

How many of these tips do you already know? Don’t miss this informative and frequently requested guide!

Jacoline Loewen Can Help You Plan for a Successful Retirement

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Loyd Chalmers Prize for Excellence in Journalism 2018



Megan Honan and Jacoline Loewen, Loyd Chalmers Prize for Business Journalism

I was delighted to award the Loyd Chalmers Prize for Excellence in Business Journalism 2018 at Ryerson to Megan Honan, a recent graduate. Megan Honan chose the flower industry of Ontario and how it has developed into a leader in the world. The article, “Growing an industry, one seed at a time.”

The Ticker Club dedicates The Goldring and Chalmers annual award to the memory of one of its founding members in 1929, Floyd Chalmers, former publisher and editor-in-chief of the Financial Post. The prize is available to students in clear academic standing who are enrolled in the bachelor of journalism program in the School of Journalism.

This award celebrates the life and career of Floyd Chalmers and is presented by the Ticker Club. Chalmers became a reporter at the Toronto News when he was only 17. By the time he was 27, he was editor-in-chief of the Financial Post. He became president of Maclean Hunter, which published the Post and Maclean’s,  in 1952, and chairman in 1969. He and his wife Jean helped set up the Canadian Opera Company and the Stratford Festival, commissioned Harry Somers’ opera Louis Riel and set up the Floyd S. Chalmers Foundation in support of the arts.

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How to put purpose in your portfolio with Michael Baldinger

Michael Baldinger, Sustainable Investing with Jacoline Loewen

We were fortunate enough to have Michael Baldinger, expert on Sustainable and Impact Investing, visit Toronto and speak in front of a wide variation of interest groups - ranging from MaRS Capital, the family offices and pension funds wanting to make an impact, ultra-high net worth investors during a private dinner, and finally, The Ticker Club whose members are the leaders of asset management in Canada.

"How to put purpose in your portfolio" was the theme Michael Baldinger tackled at MaRS, The Social Finance Forum, Canada’s leading event for people who believe profits should be paired with purpose.

Every day, billions of dollars are invested with the sole intention of making more dollars, while life-changing social programs and vital environmental initiatives struggle for funding. Impact investing is the fast-growing movement that’s closing that gap by promoting profitable investments in programs and ventures that power progress.

Now in its 11th year, the Social Finance Forum, organized and convened by the MaRS Centre for Impact Investing, attracted more than 600 investors, entrepreneurs, finance professionals, charity leaders and public service visionaries who are reshaping markets and ensuring that every dollar makes a difference.

Later, at a private dinner at The National Club, Michael addressed 40 investors. He made the case that by using new eyes, we can invest to make the world a better place. But what is sustainable? This word lacks a common definition which can make it less attractive for investors who think their charity should be donating to anything sustainable, not as a serious investment case.

Talking about the confusion around the word sustainable, Michael chose to not use green on the cover photos of the sustainable investing white papers.

" It is not just about 50 Shades of Green," quips Michael. "It is about going beyond the public numbers to non-material data. that shows which companies are operating with the best interests of society, but also making the returns our investors seek."

At the Ticker Club, Michael spoke about how to invest, but with the sustainable filter.

Michael Baldinger is a former Wall Street trader intent on making UBS' $800 billion in asset management money greener and more socially responsible.

Since 2016, Michael Baldinger has served as Global Head of Sustainable and Impact Investing at UBS Asset Management (UBS). There, Michael leads a team of investment professionals focused on research and stewardship, client solutions and business strategy. And he is responsible for establishing world-class social and environmental impact investing across asset classes.
With 30 years in the financial services industry and a decade as an investor in sustainability, Michael brings a wealth of experience to all projects. Before joining UBS, Michael served as Chairman and CEO of RobecoSAM’s executive committee. 

What are the fees for sale of your business?

For all of you entrepreneurs and business owners who are thinking about an exit, I am excited to tell you that the new M&A Fee Guide 2018-19 report by Firmex and Divestopedia is a must-read. After checking out this report, Founders and Owners will benefit from having a realistic and up-to-date overview of the fees for a proper advisor (not your accountant). Facts make you confident in selecting an expert. 

Over the years, I have observed how the fear of fees can be a block to exploring the wide range of ways to grow the business or exit. I have seen many owners think that fees will be too much.  Then they try and do by themselves - this most emotional job of all.  Don't be cheap on this part and don't think your accountant alone is the right expert. Get the facts. I think most owners will be surprised.  

Also, I have certainly seen that by using an advisor, you attract a better quality of buyer and end up with a sale price that fits expectations. Do check out this report and don't let fear of fees cost you lost profits.

Success fees, work fees, break fees…. M&A advisory fees can be structured in various ways and can differ greatly from region to region and city to city. I highly recommend checking out this free report to get a true assessment of fees for your sale of your business. Based on a survey of 480 M&A advisors – AKA the experts who will go out and find qualified buyers for your company and help negotiate the sale – this guide provides valuable data on what advisors charge their clients and why.

An exit can put owners in an uncomfortable position. While you know how to run your business better than anyone, this doesn’t necessarily mean you know how to sell it. When owners seek the expertise of advisors to help with a sale, they aren’t always familiar with how the process works or the fees that are being proposed. This report will provide the inside scoop you need to negotiate fees and terms for the sale of your business with confidence that you’ve done your homework.

I have personally partnered with my company with BDO and appreciate their ability to work with Canadian companies and their unique circumstances. Adam Mallon, the Managing Director of Transaction Advisory Services, for the mid-market, is someone who can read the situation and give clear and fair feedback to the founder as if it were his own business. Adam is one of the sponsors of the report which is an indicator of the accuracy.  

What I enjoy about Adam is that he does not waste time and gets to the real issues quickly. Adam says, 

“Sale mandates are complicated and, as this research shows, the associated fees can be calculated in many different ways. While price is an important element, is not the most important one. When selling a business, engagements can be long, intense, and often emotional. Business owners should make sure that their advisor is experienced, qualified, and a good fit personally.” 

Great advice for anyone who’s gearing up for a sale!

Get the Full Report
To download your free copy of the M&A Fee Guide 2018-19, click here.

Sustainable, Impact Investing Assets Surge - Study reports

This week, I am running three Sustainable Investing events with our experts from New York and Switzerland. This article on Sustainable investing and the rapid uptake of funds came across my desk today. It is written by one of my favourite editors, Tom Burroughes, Group Editor, Family Wealth Report.  The full article was posting on November 5, 2018:

The trend of ESG and impact investing continues to build momentum, according to figures from the US.

Investments that are deemed sustainable or that achieve certain impact beyond purely monetary results are now worth $12 trillion in the US, new figures show, a quarter of all the total assets managed professionally in the country, and a 38 per cent jump from just two years ago.

The data comes from the US SIF Foundation’s 2018 biennial report on such trends. Since the report was first issued in 1995, when sustainable/impact investing accounted for about $639 billion of AuM, the market has surged 18-fold.

Such ways of using investment muscle are gaining ground because, advocates say, they appeal to people who want to not just accumulate savings for the long term but to address issues such as pollution, crime, educational failure and mistreatment of women, among other concerns.

The latest report identified $11.6 trillion in ESG incorporation assets under management at the outset of 2018 held by 496 institutional investors, 365 money managers and 1,145 community investing financial institutions. The largest percentage of money managers cited client demand as their top motivation for pursuing ESG incorporation, while the largest number of institutional investors cited fulfilling mission and pursuing social benefit as their top motivations.

“Money managers and institutions are utilizing ESG criteria and shareholder engagement to address a plethora of issues including climate change, diversity, human rights, weapons and political spending,” Lisa Woll, US SIF Foundation CEO, said.

Retail and high net worth individuals are increasingly utilizing this investment approach with $3 trillion in sustainable assets, the US SIF Foundation reported.

2 Changes to Estate and Tax Law in Ontario

The recent changes to Ontario estate law and U.S. tax law might impact families with wealth. These 2 new changes are worth reviewing:

1. For those of you with multiple wills (used commonly to avoid Probate) should review their Wills. A recent decision, Re Milne, rendered a Primary Will void because it contained a commonly used provision that gave the Trustee discretion to determine what assets to include in the Primary Estate. As a result, multiple wills are only valid if the assets that comprise each of the Primary and Secondary Estate are defined with sufficient certainty. This decision is currently applicable in Ontario, but it is possible that it could be applied in other provinces.
2.  U.S. citizens in Canada may be impacted by the changes to the Tax Cuts and Jobs Act, specifically the global intangible low-taxed income (GILTI) tax. U.S. GILTI tax is relevant for any U.S. Shareholder owning 10% or more of a controlled foreign corporation (i.e. a Canadian Corporation with US shareholder). U.S. Shareholders in that situation may have a one-time 15.5% tax, plus they must include in income such profits in excess of a 10% return annually on depreciable tangible assets owned by the corporation whether or not a distribution is made to the U.S. Shareholder.

 

Clients with wealth need to know you see their needs first

We are striving to talk to clients the way they think about their money, not the way we do. Many advisors jump into talking about themselves, how they have been doing their role for 20 years and so forth.  This does not give the client ease of mind.  The client wants to know that you see them and you understand their special circumstances, not that you are shoehorning them into a standard "solution".

Clients feel their money “has a job to do” – to help them develop and educate their children, care for their parents, fund their businesses and homes, spin out a monthly cash flow, etc. In our client relationships, we are focused on helping our clients achieve their desired outcomes – offering the right capabilities, removing complexity and truly listening.

Our clients have their best practices in managing their wealth. This mutual sharing of knowledge has developed the wealth management practices over the past 150 years and this is a responsibility we take very seriously.

Family Wealth: 5 Essential Questions

Having listened to many families of wealth and seeing their family situations, for better or for worse, it does appear that money can impact also for better or for worse. After creating their wealth, entrepreneurs then are concerned about investing, but their overriding concern is the impact on their children. How will the new money affect them? 
Actually, it worries them deeply and we have all heard stories of families who had wayward next generation due to the wealth. What should a wealthy family do?

Listening to entrepreneurs who have sold their business and received an eye watering amount of money, I notice that the great families tend to ask themselves these six questions. 

1.       What is really important to our family?

2.       What are our family’s true assets?

3.       What should I do to guide and support the life journey of each of my family members over time?

4.       How wealthy do I want my children to be?

5.       Do I feel any responsibility to society?

You might also ask what sort of family do you want to be? What do you want - both with family legacy or family stories? Even the answer from your children might be – "meh" – and that says a great deal.

What legacy do you want to leave your children? What about a legacy left for society? Deciding where you want to go with your financial success and why you want to meet those goals will get your strategy going. Determining how to get there and which legal arrangements to use are secondary tactical decisions.

Your financial wealth a is wonderful vehicle to help your family do a shared goal.  In my experience, families who go through this process achieve better results – financially and emotionally.

By the way, my definition of a successful family is one that knows who it is, what it stands for and where it is going. Successful families manage themselves deliberately.  There is a lot at stake for families and each family member. If you and your family can define what is significant, before doing, then your next generation have an excellent chance of thriving.

A staggering amount of wealth has been created in the USA and inheritances given, foundations endowed and legacies created.  The wealthy family is trying to find this other dimension more and more.

The other question, after answering "what is important", is what will be the impact on my children and heirs? I often think that the second question is more important. It is also far more unpredictable. It is why you want to know the life lessons of the best entrepreneurs and how they have managed their family wealth.

 

Christiane Amanpour honoured for her media stories dedicated to Peace

Christiane Amanpour was honoured by Daughters for Life at a gala dinner held at The Carlu in Toronto. She took the opportunity to give the message of peace and to see others as human and not "the Other".

Christiane knows first hand about politics and the power it holds over behavior. She is Iranian and was educated in Britain, during her youth.  This early experience of different cultures, and not quite fitting into the community, gives her a deep insight into belonging and how politicians can warp their people's minds.

Christiane Amanpour, CNN, and Jacoline Loewen, UBS Bank (Canada)

Christiane has an admirable career and here are a few reminders of her assignments around the world to the hot spots of the world:

During her early years as a correspondent, Amanpour was given her first major assignment covering the Iran–Iraq War, which led to her being transferred in 1986 to Eastern Europe to report on the fall of European communism.

1990:

Following Iraq's occupation of Kuwait in 1990, Amanpour's reports of the Persian Gulf War brought her wide notice while also taking CNN to a new level of news coverage.

1992:

On 22 December 1992, during the Bosnian War, Amanpour was reporting from Kiseljak, not far from Sarajevo.e Amanpour, CNN Global Head of Media,

 LinkedIn: https://www.linkedin.com/in/jacolineloewen/
Twitter: @jacolineloewen
Amazon Author's page: https://www.linkedin.com/in/jacolineloewen/

More Billionnaires are self-made, and fewer come from the finance industry

More billionaires are self made and fewer are from the finance industry. The USA is a good country for growing new billionaires, but that may be because they are transparent about their wealth, as compared to Russia or other countries or geographic regions.
The philanthropy by the super wealthy is admirable too. The Bill Gates foundation, for example, seems to fund many of the early stage companies here in Canada. 

According to the UBS Billionaires Report, compiled by UBS and PwC, the "new [US] billionaire is different", writes On Wall Street, quoting John Mathews, Head Private Wealth Management UBS Global Wealth Management USA. More and more of them are self-made, and fewer come from the finance industry, the report says. The US created a total of 53 new billionaires in 2017, 26 percent of whom were female, compared to 12 percent of all North American billionaires. Only nine new billionaires came from the finance sector, compared to 20 in 2012, while 40 percent came from the consumer and retail industry. Besides record wealth levels, the report points to an upcoming massive generational shift in wealth between generations, with USD 3.4 trillion in wealth set to be handed over to a new generation in the next two decades. Judy Spalthoff, Head Family and Philanthropy Advisory Americas UBS Global Wealth Management, notes that the passing on of vast wealth takes careful preparation and can be a years-long process encompassing a vast range of issues. "It's not enough to only consider the transfer," she says.

Citywire writes that Asia is recording far stronger growth, however, with UBS estimating that China alone creates two new billionaires every week.

Le Monde writes that the outlook is not all fair sailing, however, with Josef Stadler, Head UHNW UBS Global Wealth Management, warning that "the risk of a trade war between the United States and China could [...] disrupt economic growth in both countries, and consequently the resulting wealth creation."

The UBS Billionaires Report has attracted a vast volume of media coverage from a broad range of outlets across different regions. These include a CNBC interview with Josef Stadler, a Bloomberg interview with John Mathews, as well as articles by the Financial Times, The Wall Street Journal, Bloomberg, Reuters, Barron's, South China Morning Post, The Business Times, Frankfurter Allgemeine Zeitung, Handelsblatt, Spiegel Online, Manager Magazin, WirtschaftsWoche, Les Echoes, and Quartz.

contact me on Twitter @jacolineloewen
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Borrow my book from the Toronto Public Library: https://www.torontopubliclibrary.ca/detail.jsp?R=2412089

See my books on Amazon: Jacoline Loewen, Amazon Author's page.

Tech Centers opening in India

FinTech is popping up everywhere, in America and other countries India, with new technologies being introduced daily. Dean Hopkins, head of OneEleven, says he is the PhD of Global Scaleups and he is opening Canadian tech incubators around the world. He was in London last week opening the newest OneEleven tech incubator.

Dean Hopkins, OneEleven, Toronto, Canada

As Dean says, "Keeping ahead of FinTechs and how they could potentially disrupt bank business practices is critical. It is becoming a critical skill to be able to assess technologies and bring them on board to mix or replace legacy systems."

Not easy to do.

Some banks are increasing their strategy to develop their own tech centers to access the best new FinTechs and their hot shot founders. These centers are springing up in developed  cities such as Toronto and London, but also emerging countries are benefitting:

"UBS has opened a second tech center in the Indian city of Pune, reports Verdict. It is the fourth in the country, with a further two located in Mumbai. The new UBS tech center will focus on the development of Neo, UBS's cross-asset platform, while also monitoring applications and data for the bank. "We want to benefit from the huge demographic dividend which India has. When we started our journey with risk management in 2015, the first product from the Pune site gave us a lot of confidence to grow our footprint In India," comments Harald Egger, Head Group Sourcing UBS. "

"The Times of India quotes Egger as further explaining that UBS is looking to hire computer scientists in India, but is facing tough competition. "The Indian talent landscape puts us in direct competition with our vendors," he points out.."

In China, female billionaires are growing in number.

Billionaires Report

According to the UBS PwC Billionaires Report, the total wealth controlled by the world's billionaires rose by more than 19 percent year-on-year in 2017, to USD 8.9 trillion, reports CNBC. The driving force behind the trend is Chinese wealth creation, the report says, with the country creating two new billionaires every week last year. The number of female billionaires is also growing strongly, particularly in China, where their number grew by 13 percent last year, outstripping global growth in female billionaires, which stood at 11 percent. One key difference, explains Josef Stadler, Head of UHNW UBS Global Wealth Management, is that "we see in China entrepreneurial female billionaires, whereas in Europe and the United States there are more females who inherit, but then get into entrepreneurial activities as a result."

The UBS PwC Billionaires Report 2018 shows that the combined wealth of China's billionaires surged 39 percent to USD 1.12 trillion last year, which is more than double the gains reaped by their peers in the US and Europe, whose collective fortunes increased 12 percent and 19 percent, respectively. John Mathews, Head of UHNW Americas UBS Global Wealth Management, says that "we're in a new gilded age," with "unbelievable and unprecedented wealth" in China. Some of the wealth gains may be illusory, however, cautions Bloomberg. The report showed that roughly half of China's new billionaires saw their wealth dip below 10 digits by the end of the year in 2017, a trend that is continuing in 2018.

The US remains the largest concentration of wealth worldwide, and is still the home of innovation, John Mathews, Head of UHNW Americas UBS Global Wealth Management, says on Monocle24's The Bulletin With UBS. According to Mike Ryan, UBS Chief Investment Officer Americas, the major takeaway from the Billionaires Report is that the figures represent the rise of China. Josef Stadler, Head of UHNW UBS Global Wealth Management, points out that China no longer copies innovations from elsewhere, but exports its own innovations out into the world. Judy Spalthoff, Head of Family and Philanthropy Advisory Americas at UBS Financial Services, discusses the importance of the growing number of women billionaires, and the importance of succession planning.

Neue Zürcher Zeitung am Sonntag writes that Chinese authorities are increasingly scrutinizing the country's ultra-wealthy, and cracking down where they suspect wrongdoing. They cite the example of high-profile actress Fan Bingbing, who disappeared for months before making a tearful public confession, admitting to tax evasion and promising to repay CHF 130 million. Banks can easily get caught up in the mix, the paper says, citing the current example of a UBS employee asked to remain in Beijing and assist investigators in matters unknown. UBS Group CEO Sergio Ermotti has assured that this has nothing to do with either the bank or the employee, but several other banks quickly issued China travel bans to their staff, the paper notes.


If you would like a copy of the report, please contact me at jacoline.loewen  at  ubs dot com

contact me on Twitter @jacolineloewen

See my books on Amazon: Jacoline Loewen, Amazon Author's page.

How prepared you are to live well in retirement?

MIT AgeLab has identified three questions you should ask yourself to assess how prepared you are to live well in retirement:

1. Who will change my light bulbs?2. How will I get an ice cream cone?3. Who will I have lunch with?

What do these questions have to do with retirement planning? 

A lot more than you might think. They actually uncover important factors about aging in place, staying mobile, and maintaining a strong social network in retirement. These factors can serve as a starting point for planning a satisfying retirement.

See my books on Amazon: Jacoline Loewen, Amazon Author's page

Bloom Burton Award honours Dr. Clarissa Desjardins, Clementia Pharmaceuticals

Bloom Burton Gala 2018, Jacoline Loewen

Recognizing entrepreneurs stirs up the economy in many ways. The reason the Bloom Burton Awards Gala 2018 worked so well is the spirit of the two leaders of the firm. - Brian Bloom and Jolyon Burton. They not only stirred up the health and pharma industry, but also put on a spectacular gala. The duo were inspiring as they talked about the nominees and their journey to success.  They also lifted the spirits of everyone with Brian's story about his choice of tuxedo for the evening, a great choice, I must add.

Getting serious, the winner was Dr. Clarissa Desjardins, Founder and CEO of Clementia Pharmaceuticals Inc., which specializes in bone disorders.

Bestowed annually, the Bloom Burton Award honours an individual scientist, inventor, executive, entrepreneur, industry leader, or policy maker who made the greatest contribution to Canada’s innovative healthcare industry in the previous year. 

Nominees are accepted from any of the biotechnology, pharmaceutical, medical device, diagnostic/imaging, research instrumentation, consumer health, services or healthcare IT sectors, and equal consideration was given to contributions across any stage of development – from discovery to commercial end markets.

There were good wishes sent from the Prime Minister of Canada, as well as the leader of Ontario and our City of Toronto. Well done, Bloom Burton, for a tremendous event.
 

See my books on Amazon: Jacoline Loewen, Amazon Author's page

Jolyon Burton, Dr Desjardins and Brian Bloom, 2018

Craig Loewen and his UWaterloo team win James Dyson Engineering Award for Canada

Craig Loewen with /university of Waterloo tea, winners of James Dyson Award

Very proud of my son and his award by Dyson. He was interviewed by the University of Waterloo: 

A blog post, written by a visually impaired person about the challenges she faced trying to use the office’s new touch screen coffee maker, was the inspiration behind a recent Waterloo Engineering Capstone Design project. WatVision took home top honours in the national leg at this year’s James Dyson Award for its clever, yet simple engineering principles.

Developed by six mechatronics engineering students, WatVision is a system that reads out words or numbers on a device allowing visually impaired individuals to make a cup of java, select an elevator floor or perform other functions most people take for granted.

“We looked at creating braille readers at first, but decided that would be way too hard,” says Craig Loewen, a WatVision member. “When [a team member] read a blog post about an individual not being able to make coffee because she couldn’t use the touch screen, we all said that we could solve that problem.”

“In about 30 minutes, the person who was blind was able to go through a few screens on a touch screen. Another individual with low vision was able to use it instantly and really liked it,” says Loewen.

In March, WatVision captured a GM Innovation Award as well as second place in the People’s Choice Award during TronCon, an annual mechatronics engineering event that connects alumni with current students.

Read full article.

Family Offices and Wealth Management: What's driving investment trends.

Family Offices: Dave Mason, Jacoline Loewen, Ed Montero, Sarah Beven

In Calgary, the team held a series of events where they presented the proprietary research on Family Offices and Wealth Management: What's driving investment trends. Five families with wealth case studies were discussed about family businesses, and their best practices as well as stumbling blocks.  

Creating corporate governance around wealth is a simple rule to state but as they say, the devil is in the details. Yet, those families, or founders, will fail if there are no rules of the road.  If the goal is ongoing transfer of wealth to the next generation which sparks the second generation to live a happy life, there needs to be thought put into action. It does all boil down to setting up governance in order to keep running family wealth management.

Held at The Petroleum Club in Calgary offered exclusive peer network of other UBS Global Family Office clients to share knowledge and discover new business opportunities.

In addition to the proprietary research, other areas of interest to wealthy families and their wealth management are:

·         Financing and advisory solutions for real estate, art collections, aircraft, hedge fund portfolios, securities backed lending, margin capabilities and more

·         Around-the-clock direct contact with our bankers, traders, specialists and sales teams in every market, product class and currency - Fully customizable real-time reporting of holdings, balances, margin, risk profiles and tax status for assets held with UBS and elsewhere

·         Tailored client portfolios to meet specific investment objectives, along with hedge fund portfolio monitoring

·         Participation in private placement deals for qualified pre-IPO clients, anchor investments and global syndicate offerings

·         Legacy advisory services, including estate planning, a young successors program and philanthropy strategies to sustain achievements and make lasting impact through giving

·         Customized guidance from the Strategic Equity Solutions Group to optimize risk/return profiles, funding, tax and accounting treatment, capital consumption, market risk, legal treatment

·         Full range of core and advisory services from UBS Prime Brokerage for family offices to efficiently gain access to the entire firm

·         Family advisory services, including governance frameworks, governing bodies, corporate advisory, management platforms, asset holding structures and business succession plans.

To learn more about family advisory, please send a request to receive the Family Office Compass, a practical guide for families setting up and maintaining their own dedicated family office.
See my books on Amazon: Jacoline Loewen, Amazon Author's page

5 lessons can we learn from Bezos’s rise to become the richest man

Interesting to learn that Amazon founder Jeff Bezos will become the world’s richest person this year, or next. After yet another fantastic report of results, and yet another boost in the company’s share price, Bezos is $5 billion away from the Microsoft founder Bill Gates and likely to overtake him soon.

From my view, I remember when Amazon was just starting and seemed an interesting but not a sure thing on the stock market. I sold my Amazon for AOL back in 1999. I was wrong! 

To learn that Bezos is now passing Bill Gates means that there are lessons to learn and Bezos shares his views. I am interested in how the title of richest person (that is tracked and legitimate) sets a role model for entrepreneurs and business leaders around the world.

After all, if making more money than anyone else doesn’t tell you they are doing something right, it is hard to know what might. 

So what lessons can we learn from Bezos’s rise to the top of the pile? In brief: That you should 

1. Think big, 
2. Innovate furiously, 
3. Ignore failures, 
4. Forget about obsessing over profits, and 
5. Avoid major acquisitions. 

Those are 5 pretty good guidelines for any business heading into the 2020s. 

In the past five years, Amazon’s share price has more than quadrupled, rising from US$220 to more than $US900 as the company powers into new industries and markets. He has already overtaken Warren Buffett and Amancio Ortega, the Spanish founder of Zara owner Inditex, to become the world’s second richest. 

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Jacoline Loewen, MBA, ICD.D, is a best selling author and expert in Wealth Management. She is Canada’s leading wealth, legacy, founder and family business finance expert. Ms. Loewen's clients are entrepreneurs who transition from focus on business to managing their money. She helps overcome common wealth creation issues while optimizing investments in order to manage and nurture significant wealth with confidence.