Wealth Management Planning
Family Business Wealth Management Blog

A Carpenter and His Tools: Thoughts on Portfolio Construction

The portfolio construction process has undergone some fairly radical shifts over the last few decades, beginning with the pioneering, and Nobel-prize winning, work of Markowitz and his Efficient Frontier followed by Bogle’s crusade for passively managed index funds and the rise of exchange traded [...]

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The Journey Ahead: Replacement Income Considerations for Former Business Owners

The process of preparing a company for sale can take years of careful business planning, efficient cash management and strategic execution. More than once over those years, owners have opportunities to contemplate the next stage of their journey from a personal financial standpoint. The personal inc[...]

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The Wisconsin Idea and the Learning Organization

What is the role of education? How does it spur innovation? A heated debate arose recently when a set of e-mails revealed a proposed change to the mission statement for the University of Wisconsin. The revision was later explained as an apparent “drafting error” born out of an extended discussio[...]

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Crystal Balls, Likely Outcomes and Portfolio Planning

In presentations to fellow professionals, we often make self-deprecating comments similar to this – “And then later we’ll tell you exactly when the Fed will raise interest rates. We’ll just grab our crystal ball and take a look.” That simple joke, variations of which are repeated over and [...]

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What Rugby Taught Me about Developing Passion in the Next Generation

My son picked up the game of rugby last year. This fact is likely of very little interest to anyone but my wife and me. One of the reasons I find it so fascinating is the amount of time, energy and effort he put into organized soccer over the past ten years. He played for a local club program and th[...]

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Investor Personalities in Family Wealth Management: Expect Differences

Behavioral finance has been one of the most discussed ideas in finance over the last 50 years. The simple idea, that we make economic choices based on how we think and feel, has some fairly profound consequences. Current research shows we don’t always make rational or efficient choices. Dr. Dan Ar[...]

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Fallen: Wealth, Values and Larry Sanders

With the 15th pick of the 2010 NBA draft, the Milwaukee Bucks select…Larry Sanders. Watching highlight clips from his just completed junior year at Virginia Commonwealth University, he displays intriguing length, raw athleticism and plenty of emotion. I’m a life-long Milwaukee Bucks fan. I watch[...]

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Mom and Pop Go To Business School

A growing body of research suggests firms with significant family involvement generally improve financial performance by adding professional management. Family-controlled and family-influenced firms which “professionalize” improve overall performance on average compared to their peers, according[...]

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Conversations and Cherry Orchards: The Power of Planning and the One Fatal Flaw

“The best laid schemes of Mice and Men oft go awry, And leave us nothing but grief and pain, for promised joy!” – Robert Burns, Scottish poet, “To a Mouse”, 1785 Not to overburden ourselves with too many literary references, but the above quote came to mind when a respected colleague of[...]

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How to Make a Million Dollars Selling Soup

One of my best friends makes soup. He would like to make a million dollars selling his soup. Luckily, his soup is really good. Unluckily, he struggles under some misconceptions of the entrepreneurial path to success, and therefore places unnecessary emotional strain on himself. As we talked recently[...]

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