What Should Be on Your Financial Agenda Before Year End?
Year end financial planning doesn’t have to be a scrambleBy Whittier Trust The end of a calendar year comes packed with holidays, family gatherings, and important financial deadlines. It also presents opportunities to coordinate and possibly revise decisions about taxes, investments, and estate planning before the new year begins. “As a team of advisors whose […]
What a Financial Quarterback Actually Does
A keyed-in family office makes sure all your experts are working togetherBy Whittier Trust Most families with significant wealth don’t lack good advisors. They tend to have a roster that includes a detail-oriented CPA, a capable estate attorney, and a trusted investment manager. Each person is great at their job, and yet there can still […]
Team vs. Players: Aligning Financial Advisors for the Win
Coordinated wealth management is essential to bring together independent expertise to achieve your family’s goalsBy Whittier Trust As your career, family, and wealth grow throughout life, so too does your network of professional advisors. When taxes become complicated, you hire a CPA, who recommends an investment manager, who suggests an attorney and a new insurance […]
Fostering Wealth Stewardship Across Generations
Inherited wealth doesn’t come with inherent understanding. Those attitudes and approaches must be taught.By Whittier Trust There are two families with nearly identical balance sheets. Both have carefully structured estate plans and appear equally prepared to successfully transfer wealth to the next generation. Yet 20 years later, their outcomes look remarkably different. One family’s children […]
The Most Important Wealth Transfer Isn’t Assets—It’s Decision-Making
Why teaching the next generation to choose well matters more than what they inheritBy Kimberly Frasca-Delaney, Senior Vice President, Client Advisor, Whittier Trust Most families think of wealth transfer as a single moment—a signature, a distribution, or a reading of the will. In practice, the transfer that determines whether wealth lasts one generation or many […]
Artificial Intelligence Can Make Financial Information Easier to Access, But It Can’t Replace Judgment
Trusted advice and the role of AI in wealth management By Whittier Trust Artificial intelligence has changed how people access financial information. Today, it’s easier than ever before to ask an AI assistant about investment concepts. But for ultra-high-net-worth clients and their families, simple information has never been the scarcest resource. The greater need is […]
Don’t Be the Financial Bottleneck in Your Family
The best approach to succession planning for family wealth is sharing knowledge across generation By Whittier Trust For many first-generation wealth creators, it’s easy to think that everything’s under control. One person built the business, opened the accounts, and knows every advisor by name. Often, the rest of the family trusts them completely—and knows almost […]
Moving from a Single to Multi-Family Office
How it works, why it’s advantageous, and what to expect in the transition By Kimberly Frasca-Delaney, Senior Vice President and Client Advisor for Whittier Trust Company Sometimes when family finances grow in size and complexity, the answer is to go simpler, not bigger. After devoting years to building your own family office, it can be […]
The Key to Good Estate Planning? Talking About It
Don’t let potential discomfort stop your from discussing your wishes By Sharon Perlin, Senior Vice President and Client Advisor for Whittier Trust Company Many people are afraid to talk about what happens when they die. Some think it’s bad luck, while others prefer to avoid the discussion because it can be uncomfortable. Still others think […]
Alternative Investments
How to make non-traditional assets work for you By Eric Derrington, Senior Vice President and Senior Portfolio Manager for Whittier Trust Company When people talk about asset classes, they often cite cash, bonds, and publicly traded stocks. “Alternative investments” are sometimes added as a catchall category—but alternatives are far from homogeneous. At their core, alternative […]