Clients know it all, and want instant satisfaction.
With the Web putting information at everyone’s fingertips in an instant, advisers face a lot of know-it-all clients. Many clients feel their Internet research makes them more knowledgeable than the advisors are.
Many clients also want instant gratification. Jacoline Loewen says, “We need to recognize this phenomenon and try to set realistic expectations for our clients…regarding the process, timing, potential complications, fees and likely results.”
Jacoline Loewen
LinkedIn profile for 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
December 30, 2014
The sale of a business brings wealth and other unspoken isues
A business sale creates wealth, and unease.
When a business owner cashes in and sells an enterprise, it often brings some confusion–even unhappiness–along with new wealth. This may seem to be similar to that internet meme - First World Problems. Think about it. People hear you are suddenly wealthy and that you should invest in your neice's startup.
To be of help in that situation, advisers may need to step outside their own comfort zone and discuss non-financial issues with clients. Advisors can help their client to focus on a new set of goals.
Jacoline Loewen is a Director with UBS Bank and writes about M&A, private equity and wealth management for business owners and entrepreneurs. You can follow her on Twitter @jacolineloewen or contact her at jacoline.loewen at ubs.com
When a business owner cashes in and sells an enterprise, it often brings some confusion–even unhappiness–along with new wealth. This may seem to be similar to that internet meme - First World Problems. Think about it. People hear you are suddenly wealthy and that you should invest in your neice's startup.
To be of help in that situation, advisers may need to step outside their own comfort zone and discuss non-financial issues with clients. Advisors can help their client to focus on a new set of goals.
Jacoline Loewen is a Director with UBS Bank and writes about M&A, private equity and wealth management for business owners and entrepreneurs. You can follow her on Twitter @jacolineloewen or contact her at jacoline.loewen at ubs.com
The benefits of tax-loss and investing
Benefits of tax-loss harvesting are inflated.
Some so-called robo-advisers may be overstating the benefits of tax-loss harvesting. Some of the claims we’ve seen are unrealistic given our more than a decade of experience managing tax loss harvesting portfolios and results we’ve seen from competitors we respect.
The claims made by online advisors arguably represent the triumph of favorably simulated back-tested results over actual experience.
Some so-called robo-advisers may be overstating the benefits of tax-loss harvesting. Some of the claims we’ve seen are unrealistic given our more than a decade of experience managing tax loss harvesting portfolios and results we’ve seen from competitors we respect.
The claims made by online advisors arguably represent the triumph of favorably simulated back-tested results over actual experience.
Wealthy families and their trusts
Trusts that use multiple advisers.
Traditionally, the directed trust model called for electing a trustee and an investment adviser. Now, the wealthiest families are slicing and dicing trustee duties into many different functions.
Directed trusts are showing up with as many as eight different roles, including a “special assets advisor,” a “distribution advisor” and a “trust protector.”
Traditionally, the directed trust model called for electing a trustee and an investment adviser. Now, the wealthiest families are slicing and dicing trustee duties into many different functions.
Directed trusts are showing up with as many as eight different roles, including a “special assets advisor,” a “distribution advisor” and a “trust protector.”
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