By Michael M. Pompian
Compliment for Advising Ultra-Affluent consumers and relatives Offices"Michael Pompian's e-book Advising Ultra-Affluent consumers and kin workplaces is noteworthy for its comprehensiveness. Michael combines 'the sizeable photo' with designated, prescriptive, and actionable techniques; advisers to prosperous households will obtain an in depth knowing of ways a quick evolving panorama affects their enterprise and its implications for his or her clients."-John Benevides, President, relatives place of work Exchange"This ebook will be at the examining checklist of someone who desires to be a full-fledged specialist in our undefined. Michael Pompian has properly selected to target useful descriptions and suggestions; for my part it is a nice plus, as we want extra academic assets during this box. Congratulations. The ebook is easily worthy reading."-Jean L.P. Brunel, CFA, coping with important, Brunel affiliates, LLC"Ultra-affluent consumers wish info and suggestion built-in and in genuine time. So making plans, making an investment, and measuring turn into a continuing method. this can be very demanding to do. Michael Pompian articulates a transparent and insightful highway map which outlines the method, elements, and human components had to create a sustainable world-class wealth administration program-both advisers and wealth vendors will be clever to keep on with Michael's lead."-Stephen Martiros, founder, Summitas (www.summitas.com) dealing with associate, CCC Alliance (www.cccalliance.com)"As prosperous households develop into extra globalized, their wishes for wealth maintenance and development became extra complicated and complicated in instances of economic uncertainty. Michael Pompian has crafted an insightful and entire consultant for reinforcing your personal services and knowledge on the right way to suggest the main not easy consumers. A must-read for all monetary advisers!"-Dr. Kurt Moosmann, MBA TEP CFP; cofounder and coping with companion of Dara Capital Ltd., Zurich, Switzerland"Without incorporating the serious elements of powerful kinfolk governance and the attention of generational and behavioral concerns, households of wealth and their advisers are working blind of their wealth administration objectives. Michael Pompian's ebook offers either advisers and kin crucial insights for locating the danger elements they need to reflect on in latest setting and to find the assets required to supply consummate solutions."-Lisa grey, graymatter thoughts LLC, writer of the hot relations workplace and Generational Wealth Management"Advising Ultra-Affluent consumers and kinfolk workplaces is a necessary 'handbook' that covers the entire significant parts of wealth administration. whereas Mr. Pompian has written the e-book basically for wealth advisers, Advising Ultra-Affluent consumers and kinfolk places of work will supply helpful insights to ultra-affluent participants and households, quite those who find themselves wondering developing a family members place of work or changing into consumers of a multifamily office."-Paul R. Perez, CFA, coping with Director, family members Advisory providers, Northern Trust"I just like the method Michael Pompian offers this fabric. It covers the waterfront with a transparent, concise, and compelling therapy. This publication will turn out helpful for kinfolk and relations workplace executives. I in particular respect the multigenerational orientation."-Bradley G. Fisher, CEO, Springcreek Advisors LLC (Multi-Family Office), Corte Madera, California
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Extra info for Advising Ultra-Affluent Clients and Family Offices (Wiley Finance)
If investment consulting is less than 80 percent, identify other sources of revenue. N. Does the firm manage money? If so, please provide details. O. Do you receive referral fees or referrals from money managers or other firms? If yes, please describe. P. Legal Questions: 1. Is the firm a Registered Investment Adviser? ) 2. Has the SEC or any other regulatory agency ever investigated the firm or a principal? 3. What potential conflicts of interest does the firm have when recommending investment products to me, and will the firm disclose those conflicts?
Some of you might not be comfortable entering the great listening zone. But you should be aware that UACs expect listeners, not talkers. 32 INTRODUCTION TO ADVISING ULTRA-AFFLUENT CLIENTS AND FAMILY OFFICES The industry’s best advisers master the art of great listening, which pays huge dividends over time by creating solid relationships with clients by managing wealth based on what matters most: feelings and values. MATCHING CLIENT WITH ADVISER In addition to listening to your client, advisers often need to listen to themselves—particularly when drawing conclusions about what a working relationship would be like with a given prospect.
How often do analysts talk to each money manager? How often do the firm’s analysts speak with money managers, both in-house and on site? I. What type of reports or feedback does the firm provide to clients after meeting with a money manager? J. How do the firm’s processes to evaluate and monitor traditional long-only managers, hedge funds, private equity, real estate, and other nontraditional asset classes differ? 5. Performance Measurement and Reporting A. Please describe the firm’s performance reporting services.