Oct 30, 2017
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
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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