Hindsight is always 20/20, and there’s no question the investment markets have been challenging in 2022. Investment losses don’t have to be the whole story, though. Just like a good plot twist or unexpected movie ending, there are a few planning strategies that, if implemented properly, could provide a material impact and ease the pain of investment losses.
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Homes are a place where hopes and dreams are formed, where accomplishments are celebrated, and where we feel sheltered through tough times. Many wealthy families have the goal to keep a particularly meaningful property in the family for future generations to enjoy and form their own memories in. However, it is challenging to execute this effectively.
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After a years-long process to get the issue on the ballot and a seemingly endless and inescapable media campaign waged by both sides, Massachusetts voters on Tuesday night approved an amendment (Question 1) to the state Constitution to increase the individual tax rate on the highest incomes beginning in 2023.
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Your summer trip to France was fantastic (even if you lost a bag or two at Charles de Gaulle) and now that you’re back, you want to find a way to spend more time there.
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Let’s face it. Many business books should have been produced as short articles rather than 200 page books, or not written at all. But, there are a few gems. Here we mention some of our favorites. The 7 Habits Of Highly Effective People, by Stephen R. Covey This is not just another of those “self-help” […]
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As clients you may be interested in knowing how we are handling the ongoing pandemic, especially as it relates to travel and to client meetings. The surge of the Delta variant and the persistence of case levels has forced us to acknowledge that we will likely be coping with the virus for years to come. […]
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“Life starts all over again when it gets crisp in the fall” The Great Gatsby ― F. Scott Fitzgerald The fall is upon us: the season for planning and restarting ― the school year, the busy season, the end of summer, and the return to routine. Only three months stand between us and the end […]
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Once used to describe a mythical creature, the term “unicorn” has been used recently to describe startups that have achieved a valuation greater than $1BN. With speculation of tax increases dominating recent headlines, there remain some equally rare provisions in the tax code that greatly benefit the founders, executives, and investors of these enterprises. Section […]
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If you’ve been through a divorce recently and are facing these daunting tasks, what can you learn from the experiences of others that can help as you start to rebuild and craft your new life post-divorce?
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While it is easy to believe we would never fall victim to fraudulent schemes, criminals are getting more sophisticated each day.
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Seeking and valuing diverse perspectives has always been a value of our firm – see Roy Ballentine’s ethos paper on other core values we hold dear and that we trust will continue to shape our firm into the future.
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Executive Summary Two tax bills in the California State Assembly propose to increase income taxes and add wealth tax on affluent California residents. If passed, this legislation would have major implications for our California-based clients. Two bills, referred to as AB-1253 and AB-2088, have recently been introduced in the California State Assembly and, if passed, […]
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“You have got to expect the unexpected.”[1] “Stuff happens.”[2] How should a private investor respond to radical uncertainty? History, including very recent history, presents many examples of radical uncertainty that roiled investment markets. The collapse of the global financial system (2007 – 2009) and the world-wide pandemic caused by the novel coronavirus (2019 – ?), […]
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As we age, does it make sense to structure our financial affairs before our mental capacity declines to reduce the risk of expensive financial mistakes later in life? SummaryThis article describes why it is advisable to get the right arrangements in place to protect ourselves from ourselves well before the actual need for that arises. […]
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When does it make sense to own gold? Investors flee to this yellow metal in unpredictable, extreme market conditions as an insurance policy. There are several ways to get exposure to gold, but does it deserve a place in your investment portfolio?
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We’re sharing with you a truly heartwarming and uplifting story of how one of our client couples was surprised by their children in an innovative way on their 60th wedding anniversary. This feel-good story is worth a listen from beginning to end (especially if the pandemic is starting to wear on you) and may have […]
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By Bruce D. Simon, CFA, CPWA® and Adam Ochlis, CPA, MST With polls currently trending toward a Democratic presidential victory and possible retaking of both houses of Congress, the implications for taxes and financial markets could be significant. On the tax front, the Presidential election looms large due to the considerable policy differences between the […]
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An issue that is top of mind for many of our clients during this time is how they can best harness the opportunity of their wealth – to live out their values, bring about the world they want to see, and work together on these issues as a family. To this end, we are coming […]
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We’re hearing from many of our clients that the topic that is top of mind right now is “How can I help?” We’re coming to you today from our homes to share our thoughts and some inspiring stories of how our clients are responding to the needs surfacing amid the COVID crisis. We hope this […]
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By now you’ve seen today’s headlines: wealthy parents and coaches have been indicted on federal charges in a college admissions bribery scheme. Over 50 people, parents and higher ed professionals, were charged with crimes such as “racketeering conspiracy”: cheating to get kids into elite universities. […]
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The Massachusetts Supreme Judicial Court ruled yesterday that a ballot initiative that would have had Bay Staters vote this fall to raise the state income on its wealthiest residents is unconstitutional. The Fair Share Amendment, dubbed by some the “Millionaires Tax,” would have had voters decide whether to increase the income tax rate from 5.1% to 9.1% on incomes exceeding $1 million. The proposal will no longer appear on the November ballot. […]
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Without our really noticing it, artificial intelligence (AI) is creeping ever more closely into our daily lives. From the Amazon Echo to self-driving vehicles to currencies that you can’t touch, AI is gradually transforming developed societies in ways we have yet to fully grasp. As artificial intelligence gets more sophisticated and weaves further into the fabric of human existence, what are the implications for work and society as we know it? […]
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At more than one thousand pages, the new tax reform package has plenty of both carrots and sticks for US taxpayers. Both the short- and long-term effects of the new legislation on economic growth in the US are uncertain at this point, but changes in the tax code will undoubtedly confer both benefits and penalties on certain segments of the US economy. Until the tax accountants ferret out every new wrinkle, let’s examine the most likely impacts that the new law will have on the investment landscape in the coming years. […]
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On Thursday, the House Ways and Means Chairman, Kevin Brady, ended months of speculation by releasing H.R. 1, the “Tax Cuts and Jobs Act,” detailed tax legislation that is the first step in possibly reshaping the country’s tax code. The bill is all-inclusive, including changes to everything from individual and business tax rates to the tax benefits of home ownership to 529 plans to the future of the estate tax […]
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The Trump Administration today released its “Unified Framework for Fixing our Broken Tax Code” to flush out its tax reform priorities for individuals and businesses. The nine-page document is similar to the single-page bulleted outline the Administration rolled out in April and which we commented on then. Frankly, not much has changed in five months as the details of what will ultimately be a bill debated and voted on by Congress remain elusive.
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A much anticipated and, perhaps, over-hyped news conference rolling out the Trump Administration’s tax reform plan generated very little “new news” yesterday. Treasury Secretary Steven Mnuchin and National Economic Director Gary Cohn presented an outline of a plan that is very similar to the talking points the President promoted on the campaign trail. […]
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This morning’s stunning news that UK citizens have voted to leave the European Union is sending shock waves through global financial markets. Equities around the world are cratering today, having anticipated a more benign outcome to the vote earlier in the week. Investors are fleeing from the British pound, the euro, and global equities in […]
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This article addresses important questions for the owners of substantial private wealth: What is the right way to manage wealth? What mistakes do most families make? How can families avoid those mistakes? The management of private wealth should be based on a process that: Begins with a strategic plan from which long-term […]
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The combination of risk concentration and lack of liquidity poses significant challenges for wealth management, and for the preservation of wealth. If you are the owner of a private company, a top officer, director or major shareholder in public company, a principal in a private equity, hedge fund or real estate investment firm, you could […]
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This article explores some key estate planning issues that arise in nearly every discussion about estate planning. If couples arrive in their attorney’s office having already thought about these issues, estate planning discussions will go more smoothly and couples will feel more confident in their decisions.
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With cyber theft often in the headlines, it might seem as though it’s not a question of whether your personal information will be compromised, but when. For example, you have likely seen CNN’s estimates that over 100 million Americans have had their personal information stolen and exposed over a one year period. This may leave […]
Read MoreThe 2008 US Credit Crisis and resulting European Banking and Sovereign Crisis exposed major weaknesses in banking regulations and oversight. The reaction from policymakers and market participants set about sweeping reforms that will permanently alter the system as we know it. Ballentine Partners has followed these events closely, recognizing that massive regulatory change will create […]
Read MoreThe right way to define your investment goals requires you to answer many important questions about your financial situation now, and your expectations for the future. You must address the types and amounts of investment risks you are willing to tolerate. You must also consider taxes on your investment income, inflation, investment fees, regulatory constraints […]
Read MoreThis paper examines the gap between the theory of portfolio construction and its practice. In particular, it analyzes some of the problems in the application of portfolio optimization techniques to individual investors. We then discuss what can be done today to compensate for the problems with the theory, and what additional work needs to be […]
Read MoreGreg Peterson, Ballentine Partners’ Director of Investment Research, and William Tickle, Director of Impact Investing, were featured in FundFire’s Opinion column on how “Advisors Can Soar or Sink with Mission-Based Investing”.
Read MoreThis paper analyzes various strategies for an individual who holds a non-qualified stock option and who desires to maximize the amount of after-tax wealth generated by the option. In all cases, we assume the executive will do a “cashless” exercise. That is, the executive will pay the option strike price by exercising additional options and […]
Read MoreSocial investing has evolved from “responsible” to “impactful.” Learn which investors and asset managers are driving the change and how this relatively new opportunity set enriches a broader investment strategy.
Read MoreDespite the negative drumbeat of negative press about the state of municipal finance in the United States, we believe the risk to our clients’ municipal bond portfolios is extremely low.
Read MoreThis paper outlines the challenges and opportunities in a rapidly growing field and proves that sometimes when “creativity” and “finance” come together, it can actually be a good thing!
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This article describes important decisions we made in structuring our wealth management practice. Our purpose is to explain the decisions we made in our business and how they affect our clients. Much of what is covered here relates to the many conflicts of interest in the wealth management business and how we decided to address […]
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They are often very competent, clever, and persistent. Judging by the 70 million-plus credit card numbers they recently stole from Target, they can be quite ambitious, too. They are the crooks and hackers who lift identities, clean out bank accounts, or simply empty wallets. And while everyone is on their radar screen, those with wealth […]
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This paper analyzes various strategies for an individual who holds a non-qualified stock option and who desires to maximize the amount of after-tax wealth generated by the option. Contrary to most people’s expectations, assuming that the expected pre-tax return on the option is greater than zero, the optimal strategy for maximizing after-tax wealth is almost […]
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Family foundations are required to publicly disclose sensitive information – but you can take steps to protect your privacy. Family foundations comprise nearly half of the 76,000 private foundations in the US. Every year, these family foundations are required to disclose information in mandatory filings that become public. Unfortunately, the information contained in these filings […]
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Do you have a sound plan for managing your family’s financial situation if the spouse who is in charge of those issues must suddenly assume that role? If you are like most couples, one spouse tends to take the lead in managing the family’s financial life. That spouse handles most of the discussions with financial […]
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Incorporating a family’s values into legacy plans requires advisors – and clients – to think about the real effects their strategies have on heirs. As advisors in multi-family office practices of family-focused wealth management firms, we have a unique opportunity to play a critical role in our clients’ lives. Our work allows us to both […]
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