Insight
Q4 2024 Wealth Strategy Insights
Double Down on Trickle Down: Tax Policy Following A GOP Election Sweep
Over the past fifty years, the battle over income tax policy has been a cornerstone of American politics, shaping economic discourse and influencing voter sentiment. In the twenty-first century, however, federal tax policy is increasingly temporary due to a combination of factors, including bitter polarization among lawmakers in Washington.
Q3 2024 Wealth Strategy Insights
Why You Need a Social Media Policy
As a former Single Family Office Executive, I’ve had the privilege of experiencing life’s many milestones alongside the families I’ve served. From welcoming new family members to organizing funerals and everything in between—marriages, divorces, and even handling crises, I’ve experienced it all. But amidst those responsibilities, there’s one moment that stands out as the worst: hearing the news that a family’s child has been kidnapped.
Q2 2024 Wealth Strategy Insights
The Strategic Advantage of Long-Term Thinking in Multigenerational Families Rus Miller Director of Family Office Services Parallel Advisors
As the youngest of five children, I experienced firsthand the consequences of a family lacking a focus on the future. In my youth, my family could be described as an "Emerging Wealth" family, teetering on the cusp of generational wealth. My parents built a thriving real estate business in Southern California, owning a brokerage firm with over 30 agents, a mortgage brokerage, and more than 50 single-family rental properties.
Q1 2024 Wealth Strategy Insights
Orchestrating Wealth: The Harmonious Symphony of Multigenerational Wealth Management
In the world of investment management, where the pursuit of financial excellence often dominates the discourse, the notion of entrusting the role of Chief Investment Officer (CIO) to an individual with a degree in music composition may appear unconventional, perhaps even audacious. One would also think that the Managing Director of a multi-generational Single Family Office would be putting their career on the line if they actually made this hire. After all, the Managing Director maintained the primary responsibility for the management of all assets of a 4 generation, 32-member family.
Q4 2023 Wealth Strategy Insights
Secure Act 2.0 And Future Changes in 2024
You may have heard about the passage of the SECURE Act 2.0 in December 2022, which introduced several changes to tax laws. Some of these changes have already taken effect, while others are scheduled for implementation in 2024 and beyond. Here is a summary of key modifications:
Q3 2023 Wealth Strategy Insights
Employee Stock Purchase Plans (ESPP)
An Employee Stock Purchase Plan (ESPP) is classified as a type of option program under tax law. An ESPP grants employees the right to buy company stock at a computed price, at some future date. The market price (FMV) used to compute the discount is often determined on the offer date – the date the option was granted.
Q2 2023 Wealth Strategy Insights
Mid-Year Financial Planning Check-Up: Tips for a Stronger Future
As we reach the halfway point of the year, it's a perfect time to conduct a financial planning check-up. Here are some essential tips to consider: Revisit Your Spending Maintaining a budget and sticking to it can be challenging. However, reviewing your credit card and bank statements from the first half of the year can help you stay on track. Many credit card companies categorize your spending, making it easier to identify areas where adjustments can be made for the remainder of the year.
Q1 2023 Wealth Strategy Insights
Chatting with AI: Can it review its own investment potential?
As each quarter-end approaches, we survey our colleagues for timely newsletter topics. I volunteered to write an article about the investment potential of artificial intelligence (AI). The topic from my peers was along the lines of, “Write an article from the perspective of a wealth manager about the investment potential of AI.”