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Hammond Associates puts empirical studies of asset allocation in perspective, starting with the 1988 study by Brinson, Hood and Beebower and working through subsequent research efforts. The author believes these often quoted and sometimes misinterpreted studies are limited in scope and the types of assets they explore and, thus, do not provide useful guidance for all asset allocation situations.

Tough economic times have cultural institutions examining their inventories to decide which items should have ownership transferred to other institutions or individuals by sale, exchange or grant. This paper from Withers LLP notes the increased need for donors of charitable gifts to make their intentions and restrictions on the gifts clear in solidly drafted gift agreements and testaments.

A short article from HUB International highlights changes in the new federal health reform law, with a focus on issues affecting employer health plans (An individual mandate also applies.) The firm has detailed information available, including effective date discussions, that it plans to post to its website (www.hubinternational.com/reform).

To be able to build a portfolio of managers that meets their objectives, investors must have a clear understanding of their rationale for integrating environmental, social and corporate governance, or ESG, factors in the in the investment decision-making process, according to a new white paper from Cambridge Associates.

Family business consultant Kenneth Kaye discusses some characteristics that facilitate trust among family members in two types of enterprises – family offices and family-owned businesses – as well as a conflict resolution intervention that capitalizes on humans' instinctive propensity to trust.

While many business owners are struggling to find qualified successors, family members oftentimes oppose proposed sales to outsiders because they think they should have the chance to take over the business. Research from Rothstein Kass suggests that advance planning can minimize family squabbles and ensure smoother business transitions.

To be competitive, advisors need to determine and consistently demonstrate what makes them unique and relevant to ultra-wealthy clients. This workbook from Natixis Global Associates helps advisors define what they stand for, understand how they are perceived, determine the priorities and needs of clients, create a personal brand message, develop and implement a brand-building plan, and measure the results.

Babson Capital explores distressed debt investing, describing the bankruptcy process, the role of debtor-in-possession facilities and the importance of valuation in understanding the investment opportunity. The report also outlines three distressed debt investment strategies based on the level of involvement: discount value, activist and control. While written for a U.S. audience, this report contains information relevant to investors globally.

Many donors are reassessing their charitable giving practices in the wake of the recession. It is in this context that Strategic Philanthropy Ltd. has compiled its annual guide for donors interested in thinking more concretely about how to be effective with their charitable donations at a time when the value of their philanthropic assets has likely decreased.

The 2010 health care legislation imposes numerous new taxes and mandates. This summary from Glenmede highlights key tax changes to which individuals and businesses may become subject. It combines the provisions of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act enacted in March.