The transition of wealth between generations has put the spotlight squarely on fiduciary roles. With the rapid changes in the financial services space, directed trustees and independent administrative trust companies have exploded in popularity. The Evolving World of Directed Trustees Most advisors, wealth management firms, and clients under-apprec…

Richard Haass: Episode 152 – The World’s Hot Spots Dr. RICHARD HAASS takes us on a tour of The World’s Hot Spots. We also discuss the U.S. in 2024 and the concept of citizenship. Richard is a veteran diplomat and respected scholar of international relations. He is president emeritus of the Council on Foreign Relations after having served as the CFR…

Episode 151 – MARK HOUSE Cryopreservation and wealth was once the purview of science fiction and Hollywood. Freezing one’s self to be revived in the future is not just something out of Issac Asimov book or a Ridley Scott movie. The science, estate planning, and economics of this “call option on immortality” are here right now. There are legitimate …

Episode 150 DAVID LESPERANCE AND MELVIN WARSHAW In this 150th Episode, we revisit the topic of citizenship and expatriation and try to answer the question, “Should I expatriate?.” Establishing a life outside the friendly confines of the United States is a popular wealth conversation.. In the last few years, fueled by local dissatisfaction, politica…

Episode 148: Aon’s Latanya Simmons Aon’s LaTanya Simmons on Florida and California Property Insurance The challenging Florida and California property insurance environment is a huge topic of conversation. Anyone looking to insure a property knows that this has become tricky business in the last five years. Floods, hurricanes, wildfires and mold hav…

EP-148 LALIT PANDA on Optimizing Supply Chains in a Chaotic World and the Steps to Protect and Improve Company Operations Defining the term “supply chain” and understanding what a company should control and what to outsource has never been more important to a business. Optimizing supply chains in a chaotic world is a huge challenge. Strategists at …

Episode 147 DAVID WASSERMAN of the COOK POLITICAL REPORT on Analyzing the Crazy 2024 Elections How should we be analyzing the crazy 2024 elections? Coming off of the Iowa Caucuses and with almost a week before the New Hampshire Primary, the United States is in full swing for one of the zaniest election cycles in memory. With histrionics coming from…

Episode 146 – Roles and Responsibilities in Trust and Estate Documents with Jenny Rozelle What if you are named in a will or a trust? In the world of estate planning, many people who are written into important roles don’t know they are mentioned in documents or what is expected of them. These roles can be a lot of work, thankless and carry signific…

The municipal bond market has been long-prized as a stable, tax advantaged income generator for individuals, After years of a low interest rate environment, the asset class is getting renewed attention . . . And it’s not just from investors! Tech disruptors are eyeing the space and they see a massive, disjointed uncoordinated market in need of mode…

The CORPORATE TRANSPARENCY ACT is less than a month away from going live and the wealth management industry doesn’t seem to be too worried about it. That worries me because it affects at least 32 million entities according to FinCen- including most small businesses in this country. States like New York may be enacting laws to mirror the disclosure …

While all families in the U.S. should have an estate plan, a comprehensive plan is particularly important when your family ties and assets span more than one country. Estate planning can be a challenging task for anyone, but add multiple citizenships and foreign assets into the mix, and it can become formidable. That said, failing to have a plan in…

JARED DILLIAN is one of the authentic unfiltered voices in finance and trading. He is also a true polymath.His newsletters include The Daily Dirtnap, a daily market newsletter for investment professionals, and We’re Gonna Get Those Bastards, which is about everything “depraved”, especially finance, culture, music and sex. He has a new book coming o…

https://open.spotify.com/show/51hVAo0WB8Lp1ECeyCWZhC"September 29, 1913: the steamship Dresden is halfway between Belgium and England. On board is one of the most famous men in the world, Rudolf Diesel, whose new internal combustion engine is on the verge of revolutionizing global industry forever. But Diesel never arrives at his destination. He va…

Philanthropy is one of the most important tools for families to strengthen their communities, establish their legacy and communicate their values - both inwardly and outwardly. What happens when the organizations that receive family resources don't fulfill the donor's intent? What if the charities mean well, but aren't effective? What if the charit…

This episode is a little different. I'm going to talk about the importance of balance and health. This time I'm the example. I'm hitting the half century mark this year. After 3 years of COVID disrepair and neglect, I knew I needed a change. In this episode, I'm going to describe those changes and what it's done for me. I'll also be commenting on t…

"Venture Capital" is a small subset of private equity surrounded in mystique and fable. In reality, the world of start-ups is filled with the highs and lows of hard work, loneliness, crushing disappointment and, sometimes, unbelievable success. The bold founders usually have a vision to disrupt the status quo and build a new world around that idea.…

Real Estate investing is seen as the holy grail of passive income and wealth independence. One of the popular facets of real estate investing is the tax advantage that much of the IRS code provides to the owner/operator. High on the list of cocktail party chatter topics is the concept of COST SEGREGATION. It is a way to deconstruct the components o…

One of America's best (and most quotable) judges, Learned Hand said, "Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes."What happens when the IRS disagrees with the way you’ve arranged you…

"Behavioral Finance" is all the rage.BeFi (as the not-so-cool kids in the financial world call it) is the next phase in guiding individuals, teams, boards, companies, and leaders to better decision-making.There is plenty of material telling us where people get it wrong. Even the best brains get deceived by a litany of behavioral biases. These biase…

The Corporate Transparency Act is legislation that is going to touch all high net worth clients in 2024. This is like KYC procedures on steroids and investors need to be aware of it. Attorney, STEPHEN LISS helps us understand the scope of the developing new regime.The financial reporting system currently makes it cumbersome for regulators and law e…

State Estate Taxes - State Estate taxes can be a nasty surprise- especially with the disconnect between State and Federal Exclusions. Currently, the Federal Exemption stands at $12.92mm per person. 17 states have and estate or inheritance tax and it's often uncoupled from the Federal exemptions.In New York, the state estate tax exclusion stands at …

Crisis Management in the Wealth SpaceLawyers, Accountants, Wealth Advisers and other advisers – are used to dealing with difficult situations all at the heart of their specialty. But often, the advice the clients need goes past the wealth arena . . . . How do you help them when you hear situations like this?My son shows no drive and won’t get up fr…

Why Do You Podcast? And How Does It Help in the Wealth/Law Space?Why do I do it?What’s involved? How does it interact with your career? Should I do it? (YES- At least try it)How did you get started and how much does it cost?Do you make money on it?Is your ROI on the show different? Do you use it for research or marketing (or both)?Do you enjoy it?T…

In this episode, I recount my experience in taking the plunge and jumping from a stable, large bank job to swim in some different waters. "Funding the Pivot" was written a few years ago as I was doing the post-mortem on my post-book experience. I think the lessons I learned can help a lot of people. This format a bit of an experiment for me in non-…

The FAMILY OFFICE – a term that is surrounded by mystique.It conjures notions of massive wealth, mahogany infused offices, private jets and money that has reached escape velocity. When one probes deeper, it connotes secrecy, exotic opportunities and risks, mixed with rigid control and discretion.But what is the reality behind the term “family offic…

We are now into 2023 and it's turning into is a unique wealth planning environmentFamilies are dealing with volatility and depressed asset values. We have extremely generous Federal Estate Tax Exemption levels for the next couple of years (we think!)-Most intriguingly, we are witnessing rising interest rates which are bouncing hard off of generatio…

Casual investors understand that states approach taxation of its citizens differently and can have different approaches to raising revenue.However, in the last month, there has been a shift in the directionality of state tax policy.Seven states (including NY and CA) released aggressive (and interrelated) proposals to increase taxes.Some of these pr…

We are all familiar with the labyrinth of the healthcare system: The paperwork, the confusion and the cost can be overwhelming. One of the blind spots in wealth management at all levels is the advice for the most significant liability most families will face: healthcare. I spoke to JOHN SAMUELS, founder of Better Health Advisors, to get smarter on …

With the end of the year approaching, the focus of HNW and Family Office Space has turned to intergenerational planning.One of the ideas on the minds of many families is providing for future generations.It would be natural to make gifts to future generations to avoid the estate tax.However, Congress figured that out and implemented the Generation S…

Dating apps combine many controversial concepts: technology, sex, societal change, economic intrigue . . . and the law. We are in the early stages of understanding how dating apps are affecting the way people interact. Our legal system is just now grappling with how to deal with bad actors in a world where accountability is scarce. To lay the groun…

If you are a casual sports fan, the emergence of the Saudi-backed LIV Golf Tour and its enormous sums of money has been a major story. It has all the elements of a classic drama:Famous Athletes Outsized PersonalitiesBig, almost infinite, moneyInternational IntrigueInternal workings and politics of powerful organizationsWe are lucky to hear from Joe…

Private Jets are on the minds of all successful people.The time savings, security, convenience and prestige appeal to the everyone.However private aviation is so much more. It can be complicated and it’s definitely expensive.To help us survey the issues around flying private, I spoke with DAVID CLARK.David has developed expertise from over 30 years…

MARQUES OGDEN is a former NFL Lineman who has parlayed his football experience, lessons learned in the rise and fall of his construction company into a growing public speaking and media career. His podcast recently featured Brett Favre: PODCASTWe talk about his background, his playing days and his career path.But we really focus on the perils of su…

It is a common saying that wealth in families is built and lost in three generations.However, this “shirtsleeves to shirtsleeves” phenomenon is on the minds of most wealthy families.There is constant demand for advice from families of wealth on how to raise productive and kind children.However, there is also a sentiment that the education and prepa…

Golf legend, JAY SIGEL joins us on this episode of "Wealth Actually." In United States Amateur Golf, there are three names: Bobby Jones, Tiger Woods and Jay Sigel. Jay is one of the most accomplished amateur golfers in American history.After growing in Pennsylvania, Jay played his college golf at Wake Forest. Afterwards, he embarked on a successful…

Two years after its onset, the world's response to the COVID-19 Pandemic will be generational event studied for years. It is a reminder that tail risk events happen more frequently than we think. Pandemics have been a feature (not a bug?) throughout the American experience. POLLY PRICE's new book sheds light on the US government's response to epide…

Today, I have a challenging discussion with Dr. CHRIS HEYE, PhD, founder of WHEALTHCARE SOLUTIONS. We talk about the issues of older age on decision-making and how that affects an individual’s retirement. We go through data on aging and explore diminished mental capacity in detail. Advisers will learn what to look out for in clients who may be suff…

For advisers dealing with wealth management clients, cybersecurity is a necessary conversation. The wealthy are clamoring for digital protection. Advice on the defense against social media attacks, the selling of information on the Dark Web, online security breaches and asset theft are a part of the advice that most wealth management clients have c…

The Wealth Management Industry is in the midst of massive demographic change. Business models are evolving, old entrants are retiring or merging, technology is leveling the playing field. As a result, clients are demanding more value and the industry is coping with a rapidly shifting landscape. As "Wealth Management" clamors for direction, new expe…

SHELTON WILDER will be the first to tell you that the Los Angeles Residential Real Estate Market is no joke. Building a successful practice in the space is hyper-competitive. The glitz and glamour portrayed on Bravo don't tell the story of struggle and heartbreak that exists in this world.We’re going to cover the complexities of LA market and Shelt…

Few investors become so well known that they earn a nickname.BILL GROSS was known as the "Bond King.".A natural polymath, Bill ascended to the throne with his novel total-return approach to managing bonds and his outsized personality. He built the PIMCO empire through hard work, ingenuity and cult of personality. Some say he lost the throne through…

Generationally low interest rates, inflation, unthinkable geopolitical risks, the speed of information and the prevalence of noise challenge our long-held conventional wisdoms. Many investors are at a loss as to how to save and invest to meet their goals.https://www.amazon.com/Just-Keep-Buying-Proven-Wealth/dp/0857199250/Against that fearsome backd…

PERTH TOLLE: An Emerging Market Portfolio Manager with a unique methodology-INTRODUCTIONPerth Tolle is the founder of the Life and Liberty Indexes and portfolio manager for the emerging market ETF with the ticker: FRDMPerth was born in Beijing and moved to the United States at age 9. After college, she lived in Hong Kong for a year and significant …

Conservation Easements with MICHAEL ENGELHARTWith Joe Biden's recent initiative to conserve nearly a third of US land by 2030, conservations easements have come back into the headlines.According to the NCED Database, a conservation easement is a voluntary, legal agreement that permanently limits uses of the land in order to protect its conservation…

International and Cross-Border Planning have been a major issues for high net worth clients for as long as there have been borders. It's an enormous topic.Jobs, new family situations and geopolitics often send people to different countries for different opportunities. All of this can have tax implications around an estate plan . . .Add in the compl…

https://www.youtube.com/watch?v=ViEKPjkjEWIJOHN FICHTHORN, now a two-time "Wealth Actually" interviewee, joins the podcast to discuss his new documentary, "Gaming Wall Street".Directed by Tobias Deml, the two-part documentary debuts on March 3rd on HBOMax. Gaming Wall Street chronicles the 2021 GameStop short squeeze that drew in the retail investo…

Occasionally we get a court case that has ripple effects across the fiduciary, asset management and investment management industries.In this episode, we’re going to look at the Potentially massive implications of the recent Supreme Court case, Hughes vs NorthwesternThe original issue before the Court was whether or not the 403(B) plan participants …

The world of property and casualty insurance is undergoing a significant business model change-Emerging risks to HNW clients include the impacts of COVID and climate change to their businesses and assets.Additionally, there are two relatively new frontiers of risk: cybersecurity and social media.These lightly understood risks can pose a threat to c…

All of us have become more reliant on technology and software to solve problems and improve our lives. However, many of us understand less and less about the programming that goes into these solutions. Further, we forget or ignore the human element of this problem solving. In this episode, I speak with ANDY HUNT who has devoted his life to these is…

In this slight detour for the show, I spoke with New York-based political commentator, DEROY MURDOCK..We have an invigorating chat about INFLATION and GUN CONTROL, two topics that are galvanizing investors today. We later focus on the implications of these issues for the 2022 and 2024 elections.Deroy has been a Fox News Contributor since 2012, a Co…