From a historical perspective, the private family trust company (or PFTC) is a relatively recent structure employed by successful, strategically-oriented families. Those who manage these structures have been, in most cases, focused on those entities’ organizational and operational requirements. Howe...

What is a Private Family Trust Company?A private family trust company (PFTC) is a state-chartered entity designed to provide fiduciary services to members of a family. PFTC is distinct from a “family office” in that it can serve as a fiduciary under state law. Private family trust compani...

Cybersecurity is a topic of great concern among our members as many face the challenge of keeping family members and their financial information safe. Scott Augenbaum, a 30-year veteran of the FBI, offers the following 15 cybersecurity tips that don’t cost a lot of money or take a lot of time, but t...

Is it ever worthwhile to accept concessionary investment returns?If your foundation’s aim is to achieve not just personal financial gain but also a specific positive social or environmental impact, the answer is a resounding yes. Foundations make program-related investments (PRI) to support charitab...

When I was in third grade, my teacher brought in some maple tree saplings as part of a science lesson. We were shown two possible places to plant these saplings; one spot was in an old forest with many mature trees, and the other was in an open area with no other surrounding vegetation. Many of us c...

I recently had an amazing opportunity to spend a few days with 46 millennial clients who came to Silicon Valley for our Next Generation Program. Focused on the theme “Innovate for Impact,” the program was hosted by our Family Wealth Advisors team and BNP Paribas Wealth Management.The 4-day event gav...

“To thine own self be true,” William Shakespeare famously wrote. The same could be said of organizations, many of which tirelessly work to ensure that they uphold the principles expressed in their mission statements — but with one gap, the investments made out of their endowments. That’s where...

The U.S. Department of the Treasury plans to withdraw proposed regulations issued in August 2016 that would have narrowed or eliminated taxpayers’ ability to claim valuation discounts on transfers of interests in family-controlled entities.The Treasury Department’s October 2 announcement that it wou...

You’ve worked so hard to make your family business a success, but eroding trust and simmering conflict threaten to derail the progress you’ve made. Is that a sign that your family business won’t make it to the next generation?Not necessarily. In fact, most conflict in family business is natural, rat...

Even highly responsible children can compound cyber risk to the entire household. They are more trusting than adults. They inadvertently engage with cyber thieves in gaming situations. Some work around security to see sites their parents don’t want them to visit. And, many of them are far ahead of t...