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Throughout our history, investors have utilized a combination of both “active” and “passive” investment solutions to solve for client needs. This paper provides a perspective on the ongoing debate over the advantages and shortcomings of these vehicles and details the importance for each client to have the right mix in order to position them to achi...

Periods of economic boom and bust have been a fixture in academia. Many credit Arthur Burns and Wesley Mitchell for formulizing our present day construct of the business cycle in their 1946 book, Measuring Business Cycles. In most teachings, the economy is neatly categorized into trough and peak, expansion and contraction. The dates of such periods...

The phenomenal success of Yale's endowment has been an inspiration to many investors. However, if Yale’s endowment had to pay the same taxes as individual investors, its portfolio would be constructed very differently. This paper presents a simple model for incorporating tax considerations into a pretax asset allo...

The phenomenal success of Yale's endowment has been an inspiration to many investors. However, if Yale’s endowment had to pay the same taxes as individual investors, its portfolio would be constructed very differently. This paper presents a simple model for incorporating tax considerations into a pretax asset allo...

The validity of a corporation’s S election is a primary consideration with respect to federal and state tax return compliance and due diligence efforts. For an S election to be valid, a corporation must satisfy strict eligibility requirements. Among these requirements, a corporation must (1) have no more than 100 shareholders, (2) have only p...

The historic June 2013 Windsor decision clarified the financial and legal status of some legally married same-sex couples, while leaving others in an ambiguous status—legally married for purposes of federal law, but still considered single in many states. For those in a same-sex relationship or for families with children or grandchildren in a same-...

Many families have significant wealth tied up in the publicly traded shares of a single firm. Concentrated exposure to a single stock—often the family’s original source of wealth—represents a significant risk to the family’s wealth and its future spending and charitable-gifting power. Emotional ties to the company that may have made the f...

This case study, coauthored by Pitcairn and Oakbrook Solutions, discusses the value proposition of data architecture to the Pitcairn family office. With many family offices striving to provide better quality client reporting experiences, this study will provide lessons learned and some insight on the value of client data and its stewardship a...

With more people investing more money in art and fine collectibles, whether for purely aesthetic or for strategic financial purposes, awareness of the risks associated with these investments and the ways to protect these assets is vital. Collectors should pay particular atte...

Our Convergence thought leadership focuses on transformative technologies in the early 21st century. Insights and data shared demonstrate the significant impact these integrated technologies will have on virtually all industries and people worldwide for years to come.

When families feud, nobody wins. What causes reasonable human beings to defy the advice of trusted advisors and lose sight of the costs of family fighting, not only in terms of money but vital family relationships and peace of mind?

Many families of wealth struggle with a fundamental question: Can our wealth be sustained across generations and have a positive impact on those who use it? Through experience and research, a series of best practices for the successful transfer of multi-generational wealth has been identified to help reduce the likelihood of families succumbing to ...

While subdued inflation and low bond yields have been key common features across major economies in the current growth recovery, the divergence in labour market dynamics has been striking. Whereas the rise in Euro area unemployment has barely been dented, the fall in US or UK unemployment has been faster than anticipated.

Technology, science, geopolitics, and critical natural forces are changing the way people live, work, and interact with others. What will these changes mean to your family enterprises? To help envision and prepare for the forces of change and how they may affect your family, we turn to the work of “futurists.”

Delaware has long been a jurisdiction of choice for grantors of trusts—for generations, the state has built a trust-friendly body of legislation and has supported its laws with a knowledgeable and effective court system. In this package of white papers, our wealth strategies experts explain the benefits and considerations of Delaware tru...