{"product_id":"wealth-of-wisdom-isbn-9781119331537","title":"Wealth of Wisdom","description":"\u003cb\u003eA critical resource for families managing significant wealth\u003c\/b\u003e \u003cp\u003e\u003ci\u003eWealth of Wisdom \u003c\/i\u003eoffers essential guidance and tools to help high-net-worth families successfully manage significant wealth. By compiling the 50 most common questions surrounding protection and growth, this book provides a compendium of knowledge from experts around the globe and across disciplines. Deep insight and thoughtful answers put an end to uncertainty, and help lay to rest the issues you have been wrestling with for years; by divulging central lessons and explaining practical actions you can take today, this book gives you the critical information you need to make more informed decisions about your financial legacy. Vital charts, graphics, questionnaires, worksheets and other tools help you get organised, develop a strategy and take real control of your family's wealth, while case studies show how other families have handled the very dilemmas you may be facing today.\u003c\/p\u003e \u003cp\u003eManaging significant wealth is a complex affair, and navigating the financial world at that level involves making decisions that can have major ramifications — these are not decisions to make lightly. This book equips you to take positive action, be proactive and make the tough decisions to protect and grow your family's wealth.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eEnsure your personal and financial success and legacy\u003c\/li\u003e \u003cli\u003eAccess insight and data from leading experts\u003c\/li\u003e \u003cli\u003eAdopt the most useful tools and strategies for wealth management\u003c\/li\u003e \u003cli\u003eLearn how other families have successfully navigated common dilemmas\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eWhen your family's wealth is at stake, knowledge is critical — and uncertainty can be dangerous. Drawn from interactions with hundreds ofwealthy individuals and families, \u003ci\u003eWealth of Wisdom\u003c\/i\u003e provides a definitive resource of practical solutions from the world's best financial minds.\u003c\/p\u003e \u003cp\u003eForeword xiii\u003cbr\u003e\u003ci\u003eDirk Jungé\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eIntroduction xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 1 \u003c\/b\u003e\u003cb\u003eTHINKING THROUGH WHAT MATTERS MOST \u003c\/b\u003e\u003cb\u003e1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Are You Wealthy? 3\u003cbr\u003e\u003ci\u003ePatricia Angus\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 2 What Are the Most Important Factors in Living Well? 9\u003cbr\u003e\u003ci\u003eScotty McLennan\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 3 What Are the Key Considerations in Crafting Your Legacy? 15\u003cbr\u003e\u003ci\u003eThayer Willis\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 4 What Does Passing on Values to the Next Generation Really Look Like? 23\u003cbr\u003e\u003ci\u003eEllen Miley Perry\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 5 How to Think Through Using Resources That Exceed My Personal Needs? 31\u003cbr\u003e\u003ci\u003ePaul Schervish\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 6 Does Family History Matter? 39\u003cbr\u003e\u003ci\u003eHeidi Druckemiller\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 2 \u003c\/b\u003e\u003cb\u003ePLANNING THOUGHTFULLY \u003c\/b\u003e\u003cb\u003e45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 7 Is It Worth Having a Financial Plan? 47\u003cbr\u003e\u003ci\u003eScott Hayman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 8 What Is the Right Balance Between Saving and Spending in Retirement? 55\u003cbr\u003e\u003ci\u003eMeir Statman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 9 How Do You Start a Family Conversation About Prenuptial Arrangements? 63\u003cbr\u003e\u003ci\u003eCharles Collier\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 10 How Can You Preserve a Beloved Family Vacation Home or Estate? 67\u003cbr\u003e\u003ci\u003eJamie Forbes\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 11 How Can You Prepare for Longevity and Mental Incapacity Among Family Members? 75\u003cbr\u003e\u003ci\u003ePatricia Annino\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 12 How Do You Prepare for a Good Goodbye? 81\u003cbr\u003e\u003ci\u003eKathy Wiseman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 3 \u003c\/b\u003e\u003cb\u003eINVESTING WISELY \u003c\/b\u003e\u003cb\u003e85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 13 How Can You Make Sure Your Portfolio Lines Up with Your Actual Goals? 87\u003cbr\u003e\u003ci\u003eAshvin Chhabra\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 14 What Return Should You Expect from Your Investments? 93\u003cbr\u003e\u003ci\u003eChristopher Brightman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 15 What Should Your Asset Allocation Be? 101\u003cbr\u003e\u003ci\u003eJean Brunel\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 16 Does Investing Have to Be Complicated? 107\u003cbr\u003e\u003ci\u003eRobert Maynard\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 17 How Should You Understand and Deal with Investment Risk? 115\u003cbr\u003e\u003ci\u003eHoward Marks\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 18 What Is the Most Useful Definition of Risk for Family Investors? 119\u003cbr\u003e\u003ci\u003eJames Garland\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 19 Is Active Management Still Worthwhile? – I 125\u003cbr\u003e\u003ci\u003eCharles Ellis\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 20 Is Active Management Still Worthwhile? – II 133\u003cbr\u003e\u003ci\u003eRandolph Cohen\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 4 \u003c\/b\u003e\u003cb\u003eRAISING THE RISING GENERATION \u003c\/b\u003e\u003cb\u003e141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 21 How Do You Raise Responsible, Independent, and Productive Children (versus Entitled Trust Fund Babies)? 143\u003cbr\u003e\u003ci\u003eJill Shipley\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 22 How Can You Help Children Thrive in a World Focused on Success? 149\u003cbr\u003e\u003ci\u003eSuniya Luthar and Nina Kumar\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 23 How Much Money Should You Leave Your Children, and When? 157\u003cbr\u003e\u003ci\u003ePeter Evans\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 24 How Do You Start a Family Conversation About Financial Inheritance? 161\u003cbr\u003e\u003ci\u003eCharles Collier\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 25 How Can You Avoid the Negative Impacts of Giving Money to Family Members? 165\u003cbr\u003e\u003ci\u003eLee Hausner\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 26 How Can Your Family Encourage Financial Literacy in Every Member? 169\u003cbr\u003e\u003ci\u003eCoventry Edwards-Pitt\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 27 How Can Families Support Both Individuality and a Shared Dream? 173\u003cbr\u003e\u003ci\u003eKelin Gersick\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 5 \u003c\/b\u003e\u003cb\u003eMAKING SHARED DECISIONS \u003c\/b\u003e\u003cb\u003e181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 28 What Are the Best Ways for a Family to Make Decisions Together? 183\u003cbr\u003e\u003ci\u003eBarbara Hauser\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 29 How Can You Improve Family Communication? 187\u003cbr\u003e\u003ci\u003eJennifer East\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 30 What Are Practical Tools for Building Healthy Families? 193\u003cbr\u003e\u003ci\u003eChristian Stewart\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 31 What Is the Point of Family Enterprise Governance? 203\u003cbr\u003e\u003ci\u003eKatherine Grady and Ivan Lansberg\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 32 Should You Have a Family Meeting? 211\u003cbr\u003e\u003ci\u003eMary Duke\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 33 How Can You Best Manage Conflict in Your Family? 219\u003cbr\u003e\u003ci\u003eBlair Trippe\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 34 Should You Stay Together as a Family or Go Your Separate Ways? 225\u003cbr\u003e\u003ci\u003eDoug Baumoel\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 6 \u003c\/b\u003e\u003cb\u003eCOMBINING FAMILY AND BUSINESS \u003c\/b\u003e\u003cb\u003e233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 35 How Can You Engage Your Children in the Management of Your Family Wealth or Business? 235\u003cbr\u003e\u003ci\u003eDennis Jaffe\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 36 How Can Your Family Develop Leaders Ready to Face the Many Challenges of Business and Family? 243\u003cbr\u003e\u003ci\u003eGreg McCann\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 37 How Can You Ensure the Success of Your Successors? 249\u003cbr\u003e\u003ci\u003eDean Fowler\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 38 Why Is Family Unity So Important and How Can You Achieve It? 257\u003cbr\u003e\u003ci\u003eAndrew Hier and John Davis\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 39 What Are the Signs You’re Losing Control of Your Family Business? 263\u003cbr\u003e\u003ci\u003eJosh Baron and Rob Lachenauer\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 40 Can a Family Stay Together After the Operating Business Is Sold? 269\u003cbr\u003e\u003ci\u003eAlex Scott\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 7 \u003c\/b\u003e\u003cb\u003eGIVING WELL \u003c\/b\u003e\u003cb\u003e275\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 41 What Is the Difference Between Charity, Philanthropy, Strategic Philanthropy, and Impact Investing? 277\u003cbr\u003e\u003ci\u003eEllen Remmer\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 42 How Can You Encourage Generosity in Your Family? 285\u003cbr\u003e\u003ci\u003eAlasdair Halliday and Anne McClintock\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 43 How Do You Engage Children and Grandchildren in Philanthropy? 291\u003cbr\u003e\u003ci\u003eLisa Parker\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 44 How Can You Wisely Develop a Long-Term Strategy for Your Philanthropy? 297\u003cbr\u003e\u003ci\u003eBarnaby Marsh\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 8 \u003c\/b\u003e\u003cb\u003eSEEKING SOUND ADVICE \u003c\/b\u003e\u003cb\u003e303\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 45 What Types of Advisors Should You Consider? 305\u003cbr\u003e\u003ci\u003eSusan Massenzio\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 46 How Can You Find Trustworthy Advisors? 311\u003cbr\u003e\u003ci\u003ePhilip Marcovici\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 47 How Can You Avoid the Next Bernie Madoff? 317\u003cbr\u003e\u003ci\u003eStephen Horan and Robert Dannhauser\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 48 Should You Choose a Single-Family Office or a Multi-Family Office? 323\u003cbr\u003e\u003ci\u003eKirby Rosplock\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 49 How Do You Choose a Good Trustee? 331\u003cbr\u003e\u003ci\u003eHartley Goldstone\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSECTION 9 \u003c\/b\u003e\u003cb\u003eFACING THE FUTURE \u003c\/b\u003e\u003cb\u003e339\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 50 What Does the Future Hold for Families with Significant Wealth? 341\u003cbr\u003e\u003ci\u003eJames Hughes\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 51 How Can You Chart Your Own Path, No Matter What Everyone Else Says You Should Do? 345\u003cbr\u003e\u003ci\u003eFernando del Pino\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 52 How Do You Balance Family Stability with Resilience Over the Generations? 351\u003cbr\u003e\u003ci\u003eJames Grubman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 53 How Can We “Lift the Small Boats” Too? 355\u003cbr\u003e\u003ci\u003eChristine Lagarde\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eConclusion 363\u003c\/p\u003e \u003cp\u003eAbout the Editors 365\u003c\/p\u003e \u003cp\u003eIndex 367\u003c\/p\u003e \u003cp\u003e\u003cb\u003eTOM M\u003csmall\u003ec\u003c\/small\u003eCULLOUGH\u003c\/b\u003e is Chairman and CEO of Northwood Family Office, a multi-family office which serves the comprehensive financial needs of families of significant net worth. Northwood was founded in 2003 and has quickly risen to prominence as an international leader in its field. Tom has spent over 30 years in the field of family wealth management and is also an adjunct professor of Private Wealth Management at the University of Toronto’s Rotman School of Management, and co-author of \u003ci\u003eFamily Wealth Management\u003c\/i\u003e (Wiley, 2013). \u003c\/p\u003e \u003cp\u003e\u003cb\u003eD\u003csmall\u003eR\u003c\/small\u003e. KEITH WHITAKER\u003c\/b\u003e is President of Wise Counsel Research, a think tank and consultancy focused on families with significant wealth. He served as Managing Director at Wells Fargo Family Wealth and currently serves on the board of directors of the National Association of Scholars. For many years, Keith has helped enterprising families develop their rising generation, organize their estates, and plan leadership transitions.  \u003c\/p\u003e\u003cp\u003e\u003ci\u003eWealth of Wisdom\u003c\/i\u003e offers a practical guide for dealing with the daunting and complex challenge of managing significant financial wealth as a family. The book is filled with expert advice from notable thought-leaders, practitioners, advisors, writers, and teachers. They address the questions that families have about growing and preserving true family wealth.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eWealth of Wisdom\u003c\/i\u003e contains clear explanations that reveal how to plan thoughtfully, invest wisely, make shared-decisions, combine family and business interests, and how to seek reliable advice. For example, how can you prepare for longevity and mental incapacity among family members? What return should you expect from your investments? How much money should you leave your children, and when? How do you best manage conflict in your family? And how can you encourage generosity in your family? The essays not only contain the information that explores each topic but can help spark helpful family conversations.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990470705381,"sku":"NP9781119331537","price":42.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119331537.jpg?v=1761787957","url":"https:\/\/k12savings.com\/products\/wealth-of-wisdom-isbn-9781119331537","provider":"K12savings","version":"1.0","type":"link"}