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Jacoline Loewen |
Wealth Management
Voted #6 on Top 100 Family Business influencer on Wealth, Legacy, Finance and Investments: Jacoline Loewen My Amazon Authors' page Twitter:@ jacolineloewen Linkedin: Jacoline Loewen Profile
November 10, 2017
November 2, 2017
Billionaires motivated not only by wealth creation
Working at UBS which provides private wealth management to high net worth people and then also the ultra high net worth, I get asked a great deal about the wealthy. Are they nice? Are they mean? Do they have good family relationships? How do they treat their spouse? How do they spend their money? Did they inherit their money? How did they make it?
When I read this article on the wealthy from John Mathews, head of UBS private wealth, it covered many of the insights that are well worth noting. I thought I would share an excerpt of it.
"Whenever we meet our clients we are struck by how normal they are. Yes they are usually intensely focused, bright and passionate, particularly when it comes to their business. But they are also often quiet, thoughtful and preoccupied as much by the responsibilities of great wealth as by its benefits."
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Jacoline Loewen at The Business Transitions Forum |
"Whenever we meet our clients we are struck by how normal they are. Yes they are usually intensely focused, bright and passionate, particularly when it comes to their business. But they are also often quiet, thoughtful and preoccupied as much by the responsibilities of great wealth as by its benefits."
"That sense of the 'burden of wealth' is having some interesting effects. The new generation of billionaires in particular is motivated not only by wealth creation but a broader sense of purpose. This means even more commitment to improving living standards, job creation, and providing broader access to cultural capital. As governments around the world cut back on spending, there is a growing feeling that the private sector must play a bigger role. "Below is a brief list of the different activities and you can read the full report here.
1. Arts and culture
Billionaires are creating alternative legacies through their cultural pursuits. Private museums are growing in number and public museums are receiving more funding, increasing the accessibility of art to the public. Maja Oeri, a Swiss pharmaceuticals heiress, illustrated the trend when she donated a large proportion of the funds for the 2016 extension of the Kunstmuseum Basel, the city's municipal art collection. Similar initiatives have proven to be equally successful: US museums like the MoMA in New York and SFMOMA thrive on support from billionaires.2. Sports
The ultrawealthy are also helping sports clubs to become more sustainable, helping them to deliver associated benefits to the communities of which they are a part. For example, Jack Ma's Alibaba has invested in Evergrande Taobao FC, recruiting international players and coaches, building one of the world's biggest football schools, dominating the league and becoming the first Chinese winners of the Asian Champions League in 2013.3. Philanthropy
Networks and communities are playing an increasingly important part in enabling this sort of purpose-driven activity. A prominent example is The Giving Pledge. At the end of May 2017, 160 signatories, including some of the world's wealthiest individuals and families, had committed more than half their wealth to philanthropy.4. Impact investing
Impact investing is also growing fast. The Rise Fund, for example, aims to balance competitive financial returns with positive societal outcomes. Its Founders Board includes billionaire entrepreneurs, rock stars, royalty.5. Family
Looking ahead, the global impact of billionaire wealth is set to grow even further, with an estimated USD2.4 trillion of billionaire wealth expected to be transferred in the next two decades.November 1, 2017
For Every Business Owner - The Business Transition Forum in Calgary
Last year, the Calgary Business Transition Forum event was packed with speakers sharing great stories. I heard fresh content from seasoned professionals too and got to ask many questions.
The networking was outstanding.
Register at: www.businesstransitionsforum.com/Calgary
The networking was outstanding.
Register at: www.businesstransitionsforum.com/Calgary
The Business Transitions Forum, Calgary edition, happens at the Westin in Calgary on November 8th. I am looking forward to this year. Dave Mason Adam Mallon David Tyldesley Mark Stephenson Lisa Shepherd
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Jacoline Loewen at the Business Transition Forum, Calgary |
October 30, 2017
Preparing the Next Generation
It is exciting to
share the limited seat offerings in our November 20 - 24, 2017 "Preparing
the Next Generation" program in Toronto, ON. The Institute of
Family Enterprise Stewards has recently launched and represents a
collaboration of thought leaders, families and academic Institutions across
CDA. The Institute and the initiatives it supports are without borders and we
are actively exploring its expansion beyond CDA in 2018.
One of the most dynamic speakers and consultant on family business- David Simpson - will be co-facilitating the program with Susan Fulford, and as a duo, they offer expertise in innovation & entrepreneurship.
Content:
The program covers business and financial literacy, communications, trust, values, purpose and clarity of Role & Accountability in families of business & wealth. We also include a focus on conflict & dispute resolution, risk management, negotiations as a life skill and Global Best Practices for building multi generational legacies. Case studies are used liberally. The family guest speakers we invite in - like Mitzi Perdue, are simply the icing on the cake, and are a valued highlight.
There will be an evening reception.
Please call with questions,
Thank you,
Susan Fulford, M.B.A. LL.B. FEA
Dynamic Legacy Inc.
P: (416) 518 8080 |
One of the most dynamic speakers and consultant on family business- David Simpson - will be co-facilitating the program with Susan Fulford, and as a duo, they offer expertise in innovation & entrepreneurship.
The program covers business and financial literacy, communications, trust, values, purpose and clarity of Role & Accountability in families of business & wealth. We also include a focus on conflict & dispute resolution, risk management, negotiations as a life skill and Global Best Practices for building multi generational legacies. Case studies are used liberally. The family guest speakers we invite in - like Mitzi Perdue, are simply the icing on the cake, and are a valued highlight.
There will be an evening reception.
Please call with questions,
Thank you,
Susan Fulford, M.B.A. LL.B. FEA
Dynamic Legacy Inc.
P: (416) 518 8080 |
October 26, 2017
Calgary deals to be done at the Business Transition Forum
If you are seeking to speed up your opportunity to network with those interested in the sale of businesses, check out The Business Transition Forum. The next session is in Calgary on November 8th and then Vancouver on the following week.
October 22, 2017
Top Tool to negotiate the fees for the sale of your business with confidence
For all you business owners who are thinking about selling part or all of their business, you need to download this new report by Firmex and Divestopedia.
I highly recommend reading it to get a true assessment of fees for your sale of business.
The report also highlights the latest views from the corporate finance experts who will sell your business far better than you can do. Yes, I know you are the smartest person in the room, but you will get more money for your business when the sale is negotiated by the people who have done negotiations for decades.
Also, if you scroll down, you will see a link to sign up for a webinar with John Carvalho, the head of Divstopedia, and with Adam Mallon, BDO, who I enjoy hearing because he tells the stories from the family business kitchen table with deep empathy for the family, but also the sternness to make the right decisions.
I highly recommend reading it to get a true assessment of fees for your sale of business.
The report also highlights the latest views from the corporate finance experts who will sell your business far better than you can do. Yes, I know you are the smartest person in the room, but you will get more money for your business when the sale is negotiated by the people who have done negotiations for decades.
Also, if you scroll down, you will see a link to sign up for a webinar with John Carvalho, the head of Divstopedia, and with Adam Mallon, BDO, who I enjoy hearing because he tells the stories from the family business kitchen table with deep empathy for the family, but also the sternness to make the right decisions.
For business owners, this report offers an invaluable tool in negotiating fees and terms for investment banking engagements. Of course, in addition to fees, due diligence must be performed on the quality and experience of the M&A advisor. The level of the success fee doesn’t matter much if an M&A transaction is not successfully completed or business owners don’t feel like they got the best outcome.
Get the Full Report
To download your copy of the 2017 M&A Fee Guide, click here.
Attend the Webinar
Join us on November 2nd, 2017 at 1 pm EST for a webinar on the key findings in the M&A Fee Guide 2017. John Carvalho of Divestopedia will moderate a discussion with Adam Mallon and Ryan Farkas of BDO Canada, Shane Stevenson, Dentons, and Jeff Deacon, IAM Group. To sign up for the webinar, visit: https://www.divestopedia.com/reg/ma-fee-guide-2017/8356.
The whole fintech discussion has changed
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Jacoline Loewen |
Business Insider chatted with Axel Lehmann, chief operating officer of Swiss bank UBS, to ask how the organisation is coming to terms with fast-changing world of fintech.
Ben Moshinsky: Where are the main threats and opportunities to UBS from the fintech boom?
Axel Lehmann: True change is really coming from outside the industry. That is the key challenge we face as of today. The whole fintech discussion has changed, we have moved on from discussing whether a revolution is taking place, and how the banks will become redundant, to a place where most banks are looking at collaborative efforts with other firms. This is why most of what we do in terms of technological development we do in partnership with fintech companies.
I don’t want to get blindsided. It’s less the technology, as such, providing a transformative element in the banking industry. It’s really alternative business models that have the potential to shake up everything and eat into our cake.
It is also full of opportunities. We, the banks, are operating from a position of strength from a customer perspective especially in terms of the amount of customer interaction, the know-how we can provide, and the services we can offer. You can’t create any of this overnight.
And secondly, we have a legacy infrastructure which can be regarded as a liability, but it’s also an asset. When the Trump election got through, for example, volatility was high. We have an infrastructure that can scale up in line with volatility, and that’s something you need to have.
So, in this regard, I’m personally optimistic. It’s easier, when you look to consumer industries, for example, Uber or WhatsApp, to disrupt a lightly regulated sector. But when you look at where we as banks are, you get into the highly regulated space immediately, when you talk about balance sheet and liquidity, and this makes this industry less easy to disrupt.
But no doubt, we still do have to be mindful that we’re not losing out on some of that less regulated space, particularly at the point of customer interaction.
BM: What's the most exciting technology on your radar?
AL: I truly believe that whole question of robotics and artificial intelligence over a time horizon of four to eight years will fundamentally change the banking business. As banks, we understand that our business is all about data. These technologies have the potential to really fundamentally change the way we operate in terms of getting smarter with the customer, understanding what kind of products we should offer and so on. That is definitely exciting.
Succesful entrepreneurs who combine their business with their travel
I dislike Chai tea usually. It has a taste that does not fit my taste expectations which lean towards a sharper Kenyan black tea. Until I was made the perfect cup of Chai tea by Eamon Fitzgerald and Rebecca Moroney, founder of Chaiwala Chai, and they changed my tea tastes
for ever. They use the correct traditional method and the taste was heavenly. It truly is a cup of contemplation. Now I find myself heading to Balzac for one of these Chai teas which have the comfort of a hot chocolate, but the calories of a latte.
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Rebecca Moroney and Eamon Fitzgerald |
I caught up with the couple in the Toronto Star. Becca and Eamon have bought a van and use it to travel across Canada as they run their business, as they are also seasoned travellers who have been in Africa, Europe and South America. They would make a great pair for a reality TV show. Here is an excerpt from the Toronto Star article.
The Toronto couple has been living in a converted cargo van since spring — travelling thousands of kilometres across Canada. Their view changes often, from the snow-topped mountains of Squamish, B.C., to the beaches of Prince Edward County.Read the full article.
“It’s like we have a $5 million cottage on the water,” says Moroney, of spending summer days parked along a County side street. “The best part of van life is you have your home with you everywhere you go.”
Moroney, 27, and Fitzgerald, 25 are among thousands who have taken up “van life.” With more than 2.1 million posts under the hashtag #vanlife on the photo-sharing app Instagram, it’s one of the most coveted lifestyles on social media.
October 19, 2017
What's the most exciting technology on your radar?
It has been a week of technology here in Toronto with SIBOS, CIX and the UBS Future of Finance Awards Dinner.
One of the questions I got to ask our finalists of the UBS Future of Finance was their views on cryptocurrencies and banking fintechs impact on banks. Our UBS COO, Axel Lehmann, spoke about this topic too. Axel Lehmann said,
I post on Twitter the question: What is the most exciting technology on your radar. One of the best answers came from Roman Monaenkov @roma_odin who said his answer was Etherium - the cryptocurrency. Do I sense a little bias as Vitalik is also Russian and here in Toronto.
Here is the fantastic video sent by Roman which features Vitalik Buterin, one of the founders of Etherium. Vitalik is speaking as the keynote speaker at MaRS explaining cryptocurrency in a thorough and understandable presentation.
Vitalak Buterin, speaking about Etherium and cryptocurrency at MaRS, Toronto.
Follow on Twitter @jacolineloewen
One of the questions I got to ask our finalists of the UBS Future of Finance was their views on cryptocurrencies and banking fintechs impact on banks. Our UBS COO, Axel Lehmann, spoke about this topic too. Axel Lehmann said,
I truly believe that whole question of robotics and artificial intelligence over a time horizon of four to eight years will fundamentally change the banking business. As banks, we understand that our business is all about data. These technologies have the potential to really fundamentally change the way we operate in terms of getting smarter with the customer, understanding what kind of products we should offer and so on. That is definitely exciting.
I post on Twitter the question: What is the most exciting technology on your radar. One of the best answers came from Roman Monaenkov @roma_odin who said his answer was Etherium - the cryptocurrency. Do I sense a little bias as Vitalik is also Russian and here in Toronto.
Here is the fantastic video sent by Roman which features Vitalik Buterin, one of the founders of Etherium. Vitalik is speaking as the keynote speaker at MaRS explaining cryptocurrency in a thorough and understandable presentation.
Vitalak Buterin, speaking about Etherium and cryptocurrency at MaRS, Toronto.
Follow on Twitter @jacolineloewen
True change in Banking is really coming from outside the industry - Fintechs
Visiting Toronto for SIBOS, Axel
Lehmann, chief operating officer of UBS, carved out time to speak at The
National Club. During his talk, Mr. Lehmann delved into financial technology –
or 'fintech' – and how UBS is engaging with this exciting technology.
Ben Moshinsky: Where are the main threats and opportunities to UBS from the fintech boom?
accelerate their ideas. That’s the type of work we’re doing. We
really want to take advantage of some of those fast-moving and smaller boats
with great ideas and great software that we can scale up and use in our
organisation.
The Five Finalists for the Future of Finance from Canada are:
Global-Regulations
MindBridge
Overbond
Veriday
Wondereur
Here is an excerpt from a recent
interview between Business Insider and Mr. Lehmann which gives a summary of the
topics Axel covered here in Toronto. Read
full interview here.
While no lender wants to become
the next Nokia or Kodak, crushed by an innovation they failed to properly
understand, it's not always clear how an organization with 100,000 employees
should deal with the threats and opportunities posed by fintech.Ben Moshinsky: Where are the main threats and opportunities to UBS from the fintech boom?
Axel Lehmann:
True change is really coming from outside the industry. That is the key
challenge we face as of today. The whole fintech discussion has changed, we
have moved on from discussing whether a revolution is taking place, and how the
banks will become redundant, to a place where most banks are looking at
collaborative efforts with other firms. This is why most of what we do in terms
of technological development we do in partnership with fintech companies.
It’s less the
technology, as such, providing a transformative element in the banking
industry. It’s really alternative business models that have the potential to
shake up everything and eat into our cake.
We have a legacy
infrastructure which can be regarded as a liability, but it’s also an asset
It is also full
of opportunities. We, the banks, are operating from a position of strength from
a customer perspective especially in terms of the amount of customer
interaction, the know-how we can provide, and the services we can offer. You
can’t create any of this overnight.
And secondly,
we have a legacy infrastructure which can be regarded as a liability, but it’s
also an asset. When the Trump election got through, for example, volatility was
high. We have an infrastructure that can scale up in line with volatility, and
that’s something you need to have.
So, in this
regard, I’m personally optimistic. It’s easier, when you look to consumer
industries, for example, Uber or WhatsApp, to disrupt a lightly regulated
sector. But when you look at where we as banks are, you get into the highly
regulated space immediately, when you talk about balance sheet and liquidity,
and this makes this industry less easy to disrupt.
But no doubt, we
still do have to be mindful that we’re not losing out on some of that less
regulated space, particularly at the point of customer interaction.
BM: What's the
most exciting technology on your radar?
AL: I truly
believe that whole question of robotics and artificial intelligence over a time
horizon of four to eight years will fundamentally change the banking business.
As banks, we understand that our business is all about data. These technologies
have the potential to really fundamentally change the way we operate in terms
of getting smarter with the customer, understanding what kind of products we
should offer and so on. That is definitely exciting.
Business Insider then asked about how UBS
is interacting with fintech. Mr. Lehmann explains the Future of Finance
Challenge which was run around the globe. Out of the 11 regional finalists in
the Americas, Canada has 5 companies going to New York. It shows that Canada
has a dynamic fintech industry.
Here is the
article again:
BM: How does a
bank, like UBS with tens of thousands of employees, interact with a fintech
startup of just a few people? What kind of cultural changes need to happen
AL: Dealing with
fintechs is a cultural shift that needs to take place and you want to have the
local people to innovate. At UBS we have a systematic process on how we expose
ourselves to fintech companies. For example, we have a
series of initiatives that we’re driving, such as our Future of Finance
Challenge. This
competition, which is happening at the moment, provides a forum for start-ups
and growing companies to come and present their ideas to compete for support
from UBS to ![]() |
Axel and Sophie Perceval, Wondereur, award for Future of Finance |
BM: Is competition
for those boats fierce? How do you make sure you invest enough time and money?
AL: UBS has a
CHF2.1 billion net saving target, but nevertheless our IT spend is at a record
level of more than 10% of revenues. We do not sacrifice mid-term and longer
term development to make numbers for a quarter. Secondly, if you look to our
overall positioning it is quite unique, and that gives me confidence. We’re the
global leader in wealth management, which is one of the key areas to invest in
digital. Every dollar we invest there, hopefully wisely, is helping us
strengthen that franchise.![]() |
Jacoline Loewen, Future of Finance Awards Dinner |
Global-Regulations
MindBridge
Overbond
Veriday
Wondereur
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