By Michael M. Pompian
Compliment for Advising Ultra-Affluent consumers and relations Offices"Michael Pompian's ebook Advising Ultra-Affluent consumers and kinfolk places of work is noteworthy for its comprehensiveness. Michael combines 'the immense photo' with specific, prescriptive, and actionable thoughts; advisers to filthy rich households will obtain an in depth realizing of ways a speedy evolving panorama affects their enterprise and its implications for his or her clients."-John Benevides, President, kin workplace Exchange"This booklet could be at the interpreting record of someone who desires to be a full-fledged expert in our undefined. Michael Pompian has properly selected to target sensible descriptions and suggestions; for my part this can be a nice plus, as we want extra academic assets during this box. Congratulations. The publication is definitely worthy reading."-Jean L.P. Brunel, CFA, dealing with important, Brunel affiliates, LLC"Ultra-affluent consumers wish details and recommendation built-in and in genuine time. So making plans, making an investment, and measuring develop into a continuing technique. this can be very difficult to do. Michael Pompian articulates a transparent and insightful street map which outlines the method, elements, and human elements had to create a sustainable world-class wealth administration program-both advisers and wealth vendors will be clever to persist with Michael's lead."-Stephen Martiros, founder, Summitas (www.summitas.com) dealing with accomplice, CCC Alliance (www.cccalliance.com)"As prosperous households develop into extra globalized, their wishes for wealth protection and development became extra complicated and complicated in occasions of monetary uncertainty. Michael Pompian has crafted an insightful and complete advisor for boosting your individual features and information on how one can recommend the main challenging consumers. A must-read for all monetary advisers!"-Dr. Kurt Moosmann, MBA TEP CFP; cofounder and handling companion of Dara Capital Ltd., Zurich, Switzerland"Without incorporating the serious elements of potent kin governance and the attention of generational and behavioral matters, households of wealth and their advisers are working blind of their wealth administration ambitions. Michael Pompian's ebook offers either advisers and kinfolk crucial insights for locating the danger elements they need to examine in cutting-edge atmosphere and to find the assets required to supply consummate solutions."-Lisa grey, graymatter recommendations LLC, writer of the hot kin place of work and Generational Wealth Management"Advising Ultra-Affluent consumers and kin places of work is a worthwhile 'handbook' that covers all of the significant parts of wealth administration. whereas Mr. Pompian has written the e-book essentially for wealth advisers, Advising Ultra-Affluent consumers and family members workplaces will supply necessary insights to ultra-affluent contributors and households, fairly those people who are pondering establishing a kinfolk place of work or turning into consumers of a multifamily office."-Paul R. Perez, CFA, handling Director, relations Advisory companies, Northern Trust"I just like the means Michael Pompian provides this fabric. It covers the waterfront with a transparent, concise, and compelling therapy. This ebook will turn out precious for kinfolk and kinfolk workplace executives. I specially appreciate 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)
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? 4. Has the firm been a party to litigation within the last five years? If yes, please provide the details.
Does the firm receive any other form of compensation, including soft dollars? If so, what is the form of compensation? 8. References A. Please provide names and contact information of clients who have taxable portfolios similar in size to ours. 9. Technology A. Describe the technology structure. What software is used? B. Describe the level of integration with custodians. With which custodians do you work? As you can see, this is an incredibly in-depth assessment process. UA families are not going to take the decision to hire a consultant lightly.
To reach beyond facts and feelings, you need to find out what is really important to the client. ” By inquiring into why clients regard certain things to be important, you’ll eventually uncover their deepest values. 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.