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    Legacy Planning Is Changing

    WealthManagement.com
    Oct 30, 2017

    Philip Cubeta, Thomas Rogerson, Martin M. Shenkman 

    Fewer clients need estate tax planning. Automated service platforms and artificial
    intelligence are making it more difficult for investment firms to justify their services.
    To differentiate themselves, add value and compete, many wealth management
    professionals are evolving toward integrated, multigenerational wealth
    management.

    Such planning not only includes the quantitative planning elements, such as tax,
    investment, life insurance and fiduciary planning, but also considers the qualitative
    elements, such as philanthropy, family dynamics and family governance.

    Let’s examine three primary business models for integrated, multigenerational
    wealth management for successful families: (1) the family office, (2) private bank,
    and (3) best-of-breed independent advisors, or “independents.” Each model has
    advantages and challenges, but all three require coordination across disciplines.

    Read his commentary here.

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