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The world economy is evolving and investors will need to adapt. We look at how the investment landscape is likely to evolve, against a background of continued economic growth but sustained uncertainty around China, Europe, and elsewhere. It makes sense to stay invested, but hedge, with market volatility creating opportunities as well as risks. Over...

It’s the giving season—a time of joy, wonder, togetherness, and sharing. For Kimberly Myers-Hewlett, it is also a special time that brings her back to her philanthropic roots that began with her parents teaching her brother and her the meaning of caring for others. Learning from her parents and their generous nature, Kimberly tries to b...

Investors may be feeling a bit skittish as talk has shifted to rising rates, slowing economic growth, and growing geopolitical risks. A neutral allocation to equities still seems appropriate for 2019, but the risks are rising. A key question going forward is whether the recent volatility marks an intermission of the nearly decade-long bull market o...

The artificial intelligence (AI) predictions of 2019 are insightful as ChatGPT and other AI platforms are becoming mainstream. Most executives knew then that AI had the power to change almost everything about the way they do business—and could contribute up to $15.7 trillion to the global economy by 2030. But what many business lead...

Creating a truly effective board doesn’t happen by accident. From selecting the right people, to running crisp meetings, to fostering good working relationships with management and one another—boards are tasked with many decisions that impact how well they function. Over time, boards fall into routines for how they operate. But how many regularly l...

An increasing problem facing employers is the threat of class action lawsuits related to their use of background checks. In these lawsuits, plaintiffs claim that employers are violating a federal statute called the Fair Credit Reporting Act (the “FCRA”), which regulates, among other things, an employer’s use of background checks p...

The year 2018 ended on a far different note than it started, with the economy stronger and markets weaker than most had projected at the outset. More perplexingly, underlying economic fundamentals remain quite strong with declining gas prices and interests, and steady jobs and wage growth. In keeping the focus much more “in the sunlight&rdquo...

Doug Balfour, author of Doing Good Great: An Insider’s Guide to Getting the Most Out of Your Philanthropic Journey, and Pat Armstrong of the Abbot Downing Institute for Family Culture discuss best practices for engaging in philanthropic activities as a family. Both believe that while each family’s questions are unique to their individua...

The Tax Cuts and Jobs Act of 2017 created a new tax incentive, the Qualified Opportunity Fund (QOF), designed to encourage long-term investment in low income communities. The QOF has stirred substantial investor excitement, but the lack of guidance before the issuance of the Proposed Regulations has frustrated the investment bankers ...

For the investors who like the tax benefits of Section 1031 (aka “Like-Kind”) Exchanges, they should consider a new option for sheltering real estate capital gains: Qualified Opportunity Zone Funds (QOZF). These funds have arisen as a result of the Tax Cuts and Jobs Act of 2017, which designated Qualified Opportunity Zone...

In response to the proliferation of new private credit strategies and managers, a new set of benchmarks was developed to help limited partners assess the performance of new and existing fund managers (general partners or GPs). By focusing on the underlying risks assumed by a credit manager, the subordinated capital and broad credit opportunities be...

Private investments, particularly private equity and venture capital have provided the strongest relative returns for decades. For families with multigenerational wealth, they may be particularly well positioned to consider allocating 40% or more of their assets to private investments. Assuming these families have the requisite long-term time horiz...

Market volatility in late 2018 has investors wondering if 2019 will bring global recession and investment losses. Chief Investment Strategist Jim McDonald answers tough questions about the global economy and how markets should react. Chief Economist Carl R. Tannenbaum also shares his views on the nature of recessions.

One element of successful investing is assessing how investor expectations may change over time. We began warning in mid-2018 of a growth slowdown in 2019, which came to a head in the fourth quarter when growth concerns led to a significant reduction in risk appetite and valuations. Souring investor expectations set the stage for positive surprises...

Volatility has returned to risk asset markets and has investors asking: “Is this time different or is something else afoot”? In this dedicated Global Family Office investor letter, we cover the volatility and the importance of multi-asset portfolios; the power of diversification to offset ever-present market drivers; and evaluating...