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The term “passion investments” has gained currency within the wealth management arena to describe high-end collectibles and other luxury possessions that hold emotional as well as financial value for their owners. When considering that this new asset class has generated noticeable returns, it’s no surprise that owners want to protect their high-val...

Whether your collection of paintings are decorative pieces or appreciative investments (or both), they can hold a tremendous amount of meaning and value. As to the decision regarding how and where to display your fine works of art, it’s important to identify and consider the many factors that could lead to a loss. All paintings—including oils, acry...

One of the most common concerns families have revolves around how to share wealth with family members without encouraging entitlement. With forethought and care, giving well and wisely can bring families together and strengthen the bonds between generations. The steps to giving wisely—and fostering flourishing over entitlement—include clarifying yo...

Works of art are at great risk of being damaged during handling and transportation. To reduce the likelihood of loss, it is important to adhere to a stringent set of guidelines for every transit. Arrangements will differ in each situation, but following the recommended steps—including selecting a fine art specialty shipping company and reviewing yo...

When you’ve made the decision to protect a collection through insurance, you want to be sure that coverage amounts measure up to the value of your items. Determining proper values can be tricky, as so many variables impact a piece’s worth. Given the ever-changing market, values are in constant flux. That’s why professional appraisals are critical, ...

The 2018 U.S. Trust Insights on Wealth and Worth® study asked nearly one thousand high-net-worth individuals about their approach to building wealth and the extent to which they are using it to achieve their goals and support the causes they care about most. The study found that while wealth provides the freedom to do more, it also brings increased...

As high-net-worth investors discuss plans for charitable giving and investing with their financial advisors, it is absolutely crucial for them to be on the same page in terms of the outcomes desired, both financially and philanthropically. For this reason, advisors and their clients need a set vocabulary of terms going into the first meeting. Only ...

Managing family wealth over the long-term requires careful thought and a well-structured estate plan. Before making specific decisions about what’s best for your wealth, it’s wise to spend time considering what it is you really want to see happen with it. There are steps you can take—including considering trust options—to help create a legacy plan ...

While it is impossible to predict every catastrophe, thorough pre-event preparation and post-event response planning can help reduce the likelihood of loss and limit the severity of damage that can’t be avoided. This reference guide and sample planning forms based on decades of experience will help you proactively keep art and other valuables ...

Without the usual financial pressures of family wealth, how do you teach your children about money, work, and personal responsibility? Because the stakes are high at this point in your family journey, this article by NEPC recommends starting with the family fundamentals and a sense of purpose for the wealth. It further outlines a reliable 1-2-3 str...

Sustainability is increasingly material to investment return, and there are five prominent trends—including climate change and technological revolution—that are likely to have relevant implications for investment portfolios over the long term. Ultimately, investors that evolve more quickly to incorporate these risks and opportunities into...

Historically, beneficiaries learned of wealth transfer plans only after the death of the grantor. However, this approach often leads to unanswered questions and, potentially, feelings of betrayal when expectations for future gifts are left unmet. There are several planning tools, including a Statement of Wealth Transfer (SOWTI), that can facilitate...

Families of wealth often ask for views on two related topics—how to think about philanthropy versus impact investing and how to best implement a socially and/or environmentally impactful investment strategy. While common themes transcend these topics, each is distinct and presents an opportunity by allowing families to engage in a powerful combinat...

In this second paper of a two-part series on philanthropy and sustainable investing, we outline how families may wish to identify opportunities within sustainable and impact investing themes. Along with four guiding principles to help create an impactful portfolio, we discuss the broad opportunity set, how to construct and then actively manage...

Art collections are unique and very personal assets. Planning to build and maintain a collection, and ensuring its future, requires balancing special rules applied to collectibles and the personal and financial realities of individuals or families. When collectors, their families, and their trusted advisors engage in purposeful planning for art col...