During the late 80s, I worked on Wall Street for Drexel Burnham Lambert. I remember the investor intermediaries were then called “Stock Brokers” or “Brokers.” The Broker’s value proposition was access to information and the execution of trades. I remember the Brokers walking over to a wall that had a see-through tubing system that ran
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Are you planning a substantial transfer of wealth this year? You’re not alone! Due to anticipated changes in United States tax law, many affluent Americans are considering the option to transfer substantial amounts of family wealth into the hands of their beneficiaries in order to maximize the current lifetime exemption from federal gift or estate
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INTRODUCTION: As you know, the US is implementing a three-phased approach to reopen the economy after stay-at-home orders are lifted. Just as the US is saying it’s time to open our economy, it’s time for us to open up family conversation again. In Phase 2 conversations, we grapple together with honesty about our response to this current
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INTRO: Whether you’re together or separated from your family members right now, we know you’re doing your best to stay connected, and desiring to have meaningful conversations, but may be unsure where to begin. All of us are working to make vital pivots to adapt to this new reality, and facing unique challenges. None of
Read more INTRO: Whether you’re together or separated from your family members right now, we know you’re doing your best to stay connected, and desiring to have meaningful conversations, but may be unsure where to begin. All of us are working to make vital pivots to adapt to this new reality, and facing unique challenges. None of
Read more INTRO: Whether you’re together or separated from your family members right now, we know you’re doing your best to stay connected, and desiring to have meaningful conversations, but may be unsure where to begin. All of us are working to make vital pivots to adapt to this new reality, and facing unique challenges. None of
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It has been a hectic week. Your client and his wife are coming to your office for a meeting at 1:00 P.M. today. He sends you an email to inform you that he plans to bring his young adult kids, who happen to be in town for the week, along to the meeting. He asks
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In chapter five of my book Legacy, I address the question that is on the hearts and minds of parents, especially parents of financially successful families, and that is: How do I prepare my children for the opportunity and responsibility of wealth? Here are four of the ten tips provided in my book. Principle #
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In the recent past I had the opportunity to attend multi-generational family meetings with financially successful families. Prior to ever attending a family meeting, I had discussed with the Legacy Capitals team what happens at the meetings; however, experiencing it for myself was eye-opening. To draw a parallel, it was like listening to someone talk
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Can Wealth Buy You Happiness? Or ensure that values pass to the next generation? According to Legacy Capitals, the answer is not necessarily. Wealth, though a unique privilege and a blessing for many, is only the beginning. Legacy CEO Richard Orlando’s mantra “Money serving families not people serving money.” It is the larger family questions and answers
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Recently my wife and I experienced a lovely getaway to Newport, Rhode Island. In addition to enjoying the restaurants, shops and boats, we spent much of our time at the International Tennis Hall of Fame Club (ITHF) playing tennis. While talking to the ITHF Director of Tennis, I began to learn about the mission of the
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When my wife and I married, she brought to our marriage her daughter from a prior marriage. Since then we have had two additional children (three if you count our dog). In modern nomenclature, we are a blended family. I wasn’t raised in a blended family so it has been a new, enriching, and at
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