Jan 1, 2010 12:00 PM

Seize this moment to help clients face their assumptions and fears — and to plan well for the future

By Anna Nichols

The recent market crisis destroyed capital, challenged bedrock tenets of economics and revealed significant limitations in standard investment management practices. But for families of significant wealth, there is a silver lining. In the long run, this crisis will help safeguard the wealth of future generations because it will change how families and advisors communicate about and manage risk.

Since 2001, the relative prosperity and market optimism provided little incentive for families or their advisors to evaluate risk management practices. If anything, easy access to inexpensive credit and a plethora of new investment options in an expanding global economy pushed conversations about risk to the bottom of the priority list. Once the market environment dramatically shifted, as it did at the end of 2008, the flaws of past practices became apparent, as did the disparity in how families and advisors perceive and even define risk.

Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

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Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

E-Newsletter Signup

2011 Trust Glossary

Click here to download the 2011 Trust Glossary

50 Years Ago This Month

Click here to read the issue.

50 years ago, in May 1962, we featured articles such as: "Future of Canadian Trusteeship" by Arthur H. Mingay", "Training Trust Employees" by Ian M. Marr, "What is a Trust Officer?" by Eric J. Brown, and "Selling Services" by Donald I. Webb.

Conrad Teitell's Guide to Tax Benefits For Charitable Gifts

Click here to view the most up to date guide (September 2011)

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