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Whether a family office wants a global custodian to be the sole asset servicer or the gatekeeper of data from aggregators and brokers, the role of a global custodian goes far beyond safekeeping. This paper makes the case for global custodians, pointing out their strengths in risk management, operational efficiency, accuracy and access to data, and technology.

Although another round of quantitative easing now looks less imminent given the recent economic strength, investors still expect Federal Reserve Chairman Ben Bernanke to come to their rescue with QE3 should economic growth falter. However, the flexibility for QE3 becomes more limited if crude oil and gasoline prices continue to escalate into the summer.

This Educational Insights defines the most common types of trusts used in asset management and estate planning, and highlights their key features.

This quarterly newsletter features the articles, "Estate Planning Key to Succession Planning," Exploring the Ins and Outs of Net Operating Losses," and "Tax Tips."

Analysis shows alternative strategies and funds are far from equal in the diversification benefits they provide. Investors who want to use alternatives to reduce portfolio risk are wise to explore the performance characteristics of individual funds as well as consider how they are likely to perform under varying conditions.

More and more states are recognizing same-sex marriage. Although marriage and its legal implications are governed by state law, for federal purposes the Defense of Marriage Act (DOMA) defines marriage as a relationship between one woman and one man. This inconsistency creates some tax planning challenges for same sex couples.

International developed equities, mostly European, are trading below their 75th percentile and have occasionally flirted with their 90th percentile level in the past year. Such discounts can lead to relatively strong future returns but can require a good amount of patience.

Generation Investment Management argues that there is no trade-off, philosophically or empirically, between profit maximization and fostering environmental sustainability; however, a number of structural impediments exist to mainstreaming 'Sustainable Capitalism.'

We do not dispute the consensus view that growth may remain sluggish in the United States in the near term. However, that does not imply that equities and credit investments are dead money. Equity investors have often prospered during blasé periods of economic growth.

Continuity planning requires a comprehensive and thoughtful process that should be utilized and extended beyond the family to a broader group of enterprises that will potentially impact the family for generations to come, including the family office, family business, and family foundation.