Advising Ultra Affluent Clients and Family Offices Wiley Finance 1st Edition by Michael Pompian ISBN 978-0470282311 0470282312

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Product details: 

ISBN 10:  0470282312

ISBN 13: 978-0470282311

Author: Michael M. Pompian

A timely guide for financial professionals looking to tap into the lucrative world of the ultra-affluent

The ultra affluent–defined here as those having $50 million or more in liquid assets–are an elite class who expect their financial advisors to not only preserve and grow their assets, but also help them with “soft” issues such as philanthropy and family governance. One of the biggest factors to success in this field is the relationship between the client and the advisor. In Advising Ultra-Affluent Clients and Family Offices, author and practicing investment consultant Michael Pompian provides a practical introduction to who the ultra-affluent actually are and reveals what it takes to build and maintain a solid relationship with them. Filled with in-depth insights and expert advice, this unique resource offers valuable information on issues that every advisor to the ultra-affluent must be familiar with.

Table of contents: 

1 Who Are the Ultra-Affluent
2 Defining the Ultra-Affluent
3 Quantifying Ultra-Affluence Among Total Global Wealth
4 Looking to the Future
5 A World of Opportunities for Advisers
6 Understanding the Mindset of the Ultra-Affluent Client
7 Why Advising the Ultra-Affluent is Different
8 What Ultra-Affluent Clients Value in an Adviser
9 Building Relationships by Asking Questions and Listening to the Answers
10 Matching Client with Adviser
11 Consultant Questionnaire
12 Conclusion
13 Wealth Attitudes, Aspirations, and Investor Behavior of Ultra-Affluent Clients
14 Family Aspirations
15 Wealth Attitudes of Ultra-Affluent Clients
16 Where Psychology Meets Finance
17 Investor Biases
18 Conclusion
19 Noninvestment Best Practices
20 The Challenges Associated with Wealth
21 Guidelines for Sustaining Multigenerational Wealth
22 Conclusion

Part Two Investment Strategies for Ultra-Affluent Clients and Family Offices
23 Practices of the Best Investment Organizations
24 Differences between Endowments and Private Investors
25 Investment Committees
26 Investment Policy Statements
27 Key Considerations for Portfolio Oversight
28 Conclusion
29 Asset Allocation Considerations for Ultra-Affluent Clients and Family Offices
30 What Is Asset Allocation
31 The Importance of Assumptions in the Asset Allocation Selection Process
32 The Importance of Asset Allocation
33 Considerations in Asset Allocation for Individual Investors
34 Domestic and International Equity
35 Introduction to U.S. and International Equity Securities
36 The Five-Step Equity Strategy Process
37 Domestic and International Bonds
38 Introduction to Bonds
39 Descriptions of Bond Asset Classes
40 Private Equity
41 What Is Private Equity and How Does It Work
42 Three Primary Types of Private Equity Investments
43 Creating a Customized Private Equity Program
44 Hedge Funds
45 What Is a Hedge Fund
46 Hedge Fund Investing by UACs and Family Offices
47 A History of Hedge Funds
48 The Legal Environment of Hedge Funds
49 Hedge Fund Strategies
50 Manager Selection
51 Real Assets
52 The Portfolio Benefits of Real Assets
53 Real Estate A Long-Term Inflation Hedge
54 Natural Resources

Part Three Multigenerational Considerations for Ultra-Affluent Clients and Family Offices
55 Selecting an Adviser
56 Trust The Key Ingredient
57 How UACs Select an Adviser
58 Questions for Prospective Advisers
59 Conclusion
60 Selecting a Custodian and Investment Vehicle Structure
61 Custodial Services
62 Investment Vehicle Structure
63 Conclusion
64 Considerations for Creating a Family Office
65 What is a Family Office
66 Challenges of Wealth
67 Practical Reasons to Create a Family Office
68 Challenges of Running a Family Office
69 Services Provided by a Family Office
70 Administrative Considerations for Establishing a Family Office
71 Considerations for Establishing a Private Trust Company
72 Conclusion
73 Wealth Transfer Planning
74 Estate Planning Basics
75 Conclusion

Part Four Special Topics for Ultra-Affluent Clients and Family Offices
76 Concentrated Equity Risk Management
77 What Constitutes a Concentrated Equity Position
78 Concentrated Stock Risk Minimization Strategies
79 Conclusion
80 Family Governance
81 Generational Division
82 Family Governance An Essential Part of Successful Wealth Transfer
83 The Incredible Family
84 Policies
85 Stages of Development
86 Conclusion
87 Risk Management and Asset Protection
88 Family Office Risk Management
89 Individual Family Member Risk Management
90 Legal Asset Protection
91 Conclusion
92 Philanthropy
93 Philanthropic Strategy Development through Asking Questions
94 Mission Statement
95 Implementation of Philanthropic Strategy
96 Philanthropic Investing
97 Best Practices of Giving Large Gifts to Colleges and Universities
98 Appendix The Next Generation Redefining the Philanthropic Landscape
99 Multigenerational Asset Allocation Strategies
100 Different Asset Allocations for Different Generations
101 Single Allocation for an Entire Family
102 Customized Asset Allocation by Generation or Family Unit
103 Asset Allocation Targeting
104 The Behavioral Finance Approach to Asset Allocation

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Tags: Michael Pompian, Advising Ultra, Affluent Clients, Family Offices, Wiley Finance