Blog
Time Well Spent
One of the benefits of working in wealth management for 50 years has been the impact clients have made on the causes and organizations that they care about. Most have shared time, talents, and treasure resulting in improving the state of the world in various ways....
Social Capital
Social Capital is a term that may have different meanings for different people. A common definition is that it is a set of shared values that allows individuals to work together to effectively achieve a common purpose. In the context of financial planning, it has...
The Power of Planning
I have been fortunate to have enjoyed a 50 year career in wealth management. During the early years, it was necessary to stay motivated in the fact the benefits would be long term and that the results of our work would be realized in the future, much more than in the...
Giving in 2020
According to the Wall Street Journal, 2020 was a banner year for charitable giving. Much of this increase was Covid relief related as individuals found new and innovative ways to help. My experience with clients was similar as many saw a greater need and responded. I...
Can You Adapt?
I believe that the challenge offered by 2020 has been the ability to adapt to a severely changing environment. I certainly don’t expect the world to stand still, but the events related to the pandemic was on few radar screens. I do recall that Bill Gates mentioned a...
Year End Giving
It is the time of year that our mailboxes and email accounts receive a large number of requests from charities. Part of the motivation, no doubt, is that the clock is ticking with respect to current year tax deductions. Also, many charities receive the bulk of their...
What Good is Endowment?
I recently had a Zoom call with a client couple. He is a lawyer and she is the local head of a national non-profit. Our client calls typically start by out asking about health, the family, and career highlights. In this Covid era environment, updates in these areas...
It’s Not That Complicated
Russell James, the well-known Texas Tech professor, is fond of saying that gift planning can do two things, lower taxes and trade a gift for income. Of course, there are many ways to accomplish this goal, but basically, gift planning should appeal to those individuals...
May You Live In Interesting Times
Known somewhat erroneously as the Chamberlain Curse, this expression seems to be part of our collective current experience. These are interesting times indeed. I sense that current events have resulted a feeling of a loss of control on many fronts. The current...
Wealth In Families
A few decades ago, I met Charles W. Collier. He was the Senior Philanthropic Advisor at Harvard University and somewhat of legend in his own time. He had written a book entitled, Wealth in Families, which is an effective manual on the subject of helping families deal...