Title: Advising Ultra-Affluent Clients and Family Offices / Edition 1
Author: Michael M. Pompian
ISBN-10: 0470282312
ISBN-13: 9780470282311
Despite the downturn in financial markets, there are still alarge number of ultra-affluent individuals and families across theglobe. And in light of recent events, these clients-defined here asthose having $50 million or more in liquid assets-need help on avariety of fronts. That’s why author Michael Pompian, anexperienced investment consultant in the private wealth arena, hascreated this timely guide. Advising today’s ultra-affluent clients (UACs) and familyoffices requires solid investment knowledge and the skills to dealwith “soft” issues such as family governance and philanthropy.Understanding this idea and integrating it into your professionalendeavors will put you in a better position to serve your clientsas well as excel in one of the most-dynamic segments of thefinancial services industry. Although targeted at financialpractitioners, this book is also a valuable resource for familiesconsidering whether to establish or join a family office. Divided into four comprehensive parts, this thoughtful resourceopens with an informative introduction to advising UACs, includinga detailed discussion of which clients are considered”ultra-affluent” and an in-depth look at their attitudes,aspirations, and investment behavior. Part II outlines variousinvestment strategies for UACs, examining the best practices of topinvestment organizations and reviewing many of the alternativeinvestments available to UACs. Part III takes the time to outlinethe key aspects of advising multigenerational families-includingselecting an adviser, considerations for creating a family office,selecting an investment vehicle structure, and wealth transfer.Part IV rounds out this extensive exploration of advising theultra-affluent by covering special topics in advising UACs, such asfamily governance, equity risk management, philanthropy, assetprotection, and developing a multigenerational asset allocationstrategy. Working with the ultra-affluent has great upside potential,especially given the generational transition of wealth that istaking place globally. In order to take advantage of thisopportunity, you need to gain a fundamental understanding of boththe investment and noninvestment issues that affect ultra-affluentclients. Advising Ultra-Affluent Clients and Family Officescontains the practical insights and expert advice that will allowreaders to successfully navigate this complex field and effectivelyserve some of today’s most sophisticated investors.
