Category: Uncategorized

Aug 11th

When it comes to crafting a winning wealth game plan, how deep is your bullpen?

By Whittier Trust 

Who doesn’t love baseball, aptly called “The Great American Pastime”? The best games take the fans, players and coaches on a nine-inning journey with highs and lows, demonstrations of strength and strategy, and ultimately, a celebration of the winning team’s victory. 

Whittier Trust Company Assistant Vice President and Client Advisor Austin Barr— a recently converted Angels fan since moving to Newport Beach—sees the game as an apt analogy for the service Whittier Trust provides. “Our founder, Max Whittier, made his own luck when he made the cross-country trip from Maine to California—and we seek to perpetuate that winning streak with our preparation and expertise,” he says. Here’s how. 

Team Effort

The best teams have a well-rounded collection of players who are skilled and specialized for the best team outcome. “The baseball analogy rings true: we play a lot of positions and must be ready for every hit,” Barr says. That can include everything from strategic services such as estate planning to maximize intergenerational wealth and looking for new advantageous alternative investment vehicles to tactical services such as ensuring business continuity or mitigating potential tension between beneficiaries. 

Because Whittier Trust has five distinct but connected divisions—Investments, Trust Services, Family Office, Philanthropy and Real Estate & Energy—their bench is deep and diverse, which provides a holistic and methodical approach to a client’s financial landscape and life overall. For example, some clients come to Whittier for investments and then discover that working with the philanthropic services division can decrease their tax burden to increase their portfolio’s overall value. “It's really white glove service to the extreme,” Barr says. 

Personalized Playbook

As any coach knows, every team and opponent is different, so the best coaches develop a playbook that’s tailored for the season and flexible enough to win the game at hand. Similarly, when Whittier Trust begins working with a new client or family, they spend ample time getting to know the client, asking questions about lifestyle, goals, interests, concerns and much more. As a result, the day-to-day “playbook” may look slightly different for each client and it may change over time, as the client’s needs and goals change—or as life throws curve balls. Whittier Trust takes a nuanced approach and is able to be agile and thoughtful to give the client the best outcome and provide the most comfort along the way. 

Barr notes, “We are actively looking for opportunities to optimize by revisiting goals and priorities regularly.” That could mean proposing an advantageous investment to minimize tax burden, celebrating a new addition to a family by setting up a college investment account or connecting with the philanthropic services team to pursue a client’s charitable passions. No request is too big or too small. 

Prepared for Curveballs

Anyone who has lived through the last few years knows a thing or two about curveballs—thanks to a global pandemic, supply chain delays, a war in Ukraine and the “Great Resignation” that precipitated challenges in staffing. However, a well-rounded team is agile enough to expect that curveballs (or fastballs or changeups for that matter) are going to come, so that none of those events trigger knee-jerk reactions or panic-driven decisions. Instead, Whittier Trust takes a measured, thoughtful approach to whatever the market or the world throws at them. “It’s not a reactive type of thinking. Instead, we thrive in complexity,” says Barr. “Whether it’s the sale of a business and the pre-sale and post-sale planning or looking for opportunities to both preserve and grow wealth, we find a plan and strategy to do what’s right for our clients and their goals.” 

For the Win

No matter what a client’s specific needs are, the Whittier Trust team’s goal is the same: to create a winning strategy. The low client-to-advisor ratio allows them to create and execute a highly customized plan, to be constantly available for questions and to proactively reach out as new opportunities arise. “Our winning strategy is made up of excellent service and ensuring that wealth is preserved over the long term,” Barr says. “We exist to grow and preserve the wealth of our clients, so that their legacy lives on.”

Aug 4th

A Junior Board Helps Continue a Family Foundation’s Legacy

By Whittier Trust

Philanthropy is about helping others, offering invaluable funding to support communities and causes. When family foundations are involved, it gets more complex than simply giving money away. It’s also about preserving a legacy and bringing family members together in the name of a shared cause or purpose. The style and look of a family foundation has evolved, and it’s important to consider how to engage the next generation.

Junior boards—also called associate boards—can be a powerful philanthropy services tool in helping prime the next generation, and they can be highly personalized in structure, style and purpose. They can be as small as four members, or as large as 20, and the age limitations can be anywhere from pre-teen to mid-30s. These launch pads are instrumental in not only growing the foundation’s reach but also growing the junior board members as individuals.

“Junior boards help teach the next generation about the foundation and its mission, how it’s structured and more. It’s a good way to strengthen members’ financial literacy skills. It helps them learn about the value of money, investing the foundation’s assets, learning about the stock market and the power of leaving your money invested so it grows over time,” says Alexandra C. Repko, officer and client advisor for Whittier Trust’s Philanthropic Services. Junior boards can also help strengthen familial ties, prepare members to transition to the main board and help members discover more about themselves. Here’s how.

Strengthening Family Bonds

Junior boards can help strengthen a family’s bond, especially if there are many branches or if the members aren’t particularly physically or emotionally close. “It’s a good way for cousins or more distant relatives to be able to collaborate and decide how and where the money should go,” says Repko, who adds that working together is helpful in making junior board members feel less alone in their giving.

Even close-knit junior boards can deepen their relationship. She recalls one example of a small but well-run junior board that had been working together for many years. Whittier Trust facilitated a connection presentation for them to share during a family retreat, where each member worked with the firm to share more about their choice of organization to support.

“We created a presentation for them to give to each other on the junior board and the greater family. It was during the pandemic so it was over Zoom, but it worked really well. They were able to share with each other, to present their interests and why they chose to give to particular organizations,” she says, noting that the environment made it conducive for creating deeper connections.

“Sometimes, even though you’re family, you don’t always take the time to listen and hear about each other’s interests,” she says. “It strengthened family ties in a natural, organic way.”

Facilitating Family Continuity

Succession is a challenge family foundations often face, so establishing a well-functioning junior board can help smooth the transition to the main board. “Junior boards can promote family continuity,” explains Repko.

It also helps get family members invested earlier, which can also be its own challenge, depending on the level of excitement a junior board member has for the role. That’s where Whittier Trust comes in. “Part of our role is to get the junior board excited,” says Repko, whose team does this by showing interest in junior members as individuals, having strategic conversations and doing site visits to grantees so they can see first-hand the impact they’re having.

Conversely, some junior board members are exuberant and need help focusing their interests and refining their strategies. Whittier Trust steps in and supports them by guiding them through questions to help figure out values to create a common purpose.

Repko recalls one junior board of preteens who were so excited to be participating, but they hadn’t yet identified a mission. Whittier Trust got them together and used a core values game to help. “We identified not only the family’s core values, but their individual values as well,” she says. “When they’re really enthusiastic it’s easier for them to inspire their cousins and other family members.” Getting them involved in the process in the right way at the right time can help fuel a lifelong passion for the family foundation. It can be particularly special to have a junior board because many will have parents on the main board, providing opportunities for bonding and working together.

Inspiring Personal Growth

Repko’s favorite aspect of her job is watching junior board members grow. “They’re able to find out more about themselves and their core values. It’s one of the most beautiful parts—sometimes they think they’re just supporting a charity in their community, but they eventually realize that they have a passion for the environment, or helping women or underserved kids, for example,” she says. “They walk away with a better idea of who they are and what they want to do to make a positive impact in the world. They learn that grantmaking isn’t just a transaction—ideally, it’s a relationship.” The impact of personal growth on a family foundation, especially as it concerns giving, is immeasurable.

Whittier Trust helps create, manage and evolve junior boards, tailoring their recommendations and plans to a family’s philanthropic mission and grantmaking style, while simultaneously helping them find their own philanthropic voice.  “As the next generation moves up, there will be new trends. Junior boards today have different interests compared to their grandparents. And we’re able to welcome and support their new ideas,” says Repko.

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Jul 28th

Why Your Family’s Wealth Belongs in Nevada

By Robert LeBeau

Nevada may be known for its gold rush history, glamorous casinos and high-stakes poker games, but high-net-worth families learn that it’s no gamble to keep their money there. “Nevada is one of the most trust-friendly states. It’s a terrific alternative to placing your money offshore,” says Robert C. LeBeau, a senior vice president and client advisor with The Whittier Trust Company of Nevada, Inc. based in Reno.

Starting in the 1990s Nevada’s leaders watched other states, such as Delaware and South Dakota, amend their laws related to trusts to attract money from high-net-worth individuals. State leaders knew that becoming trust-friendly would help grow the economy. 

Taking those strategic steps has paid off. LeBeau notes that more and more of Whittier Trust’s high-net-worth clients, with their interest in wealth planning—particularly in efficiently passing wealth from one generation to another—have recognized that Nevada can offer both flexibility to achieve their goals and significant tax savings. “We have clients in more than 30 states who are able to set up a Nevada trust by having Whittier Trust as a trustee,” LeBeau says.

Here are three key things that establishing a Nevada-based trust can do for your family.

1. Boost Wealth

Nevada’s laws support wealth maximization for future generations through beneficial tax policies, as The Silver State imposes no income tax, transfer tax or estate tax.

Nevada also allows for what is often referred to as a “dynasty trust,” which provides for a term of as long as 365 years. By contrast, in neighboring California, a trust can last for less than a third of that time.

One family that works with Whittier Trust held multiple long-term trusts in an East Coast state. LeBeau says that transferring those trusts to Nevada let the family avoid state inheritance and income taxes.

2. Shield Assets

“Nevada has a host of forward-thinking laws regarding asset protection that many other states don’t have,” says LeBeau. “Those thoughtful, friendly laws make Nevada a great alternative to establishing a trust offshore in the Cayman Islands and other jurisdictions.” For example, Nevada law provides for asset-protection trusts, known as self-settled spendthrift trusts, that prevent most creditors from attaching trust assets and compelling distributions.

“We’ve had non-Nevada resident clients work with us to establish Nevada asset protection trusts to protect a substantial portion of their wealth from potential future creditors and ensure they have a safety net fund,” LeBeau says. 

3. Stay Flexible 

One of the most powerful advantages of Nevada’s laws is their flexibility as it applies to drafting new documents, amending existing documents and managing investments. “Circumstances can change,” says LeBeau. “In a lot of states, once a trust is in place it’s considered ‘irrevocable,’ making it hard to modify, no matter the reasons a change is warranted.”

Nevada is unique from other states, such as California, because it has statutes that provide for a “trust protector,” a role that either an individual or a trust company like Whittier Trust can fill. “A trust protector can modify an irrevocable trust agreement,” LeBeau explains. “They’ll often do this to respond to changes in law or otherwise to direct action that would be in the best interest of beneficiaries.” The provision for a trust protector is a distinct asset of doing business in Nevada.  

Developing Your Family’s Assets In Nevada

Residents of any state can set up accounts in Nevada to benefit from the state’s wealth-friendly legislation. Here are just some of the options: 

1. Decant a Trust

Many clients come to Whittier Trust with trusts established in other states that they want to decant to Nevada—that is, redistribute assets from a trust elsewhere to a new one in Nevada, on better terms. The Silver State boasts some of the best decanting statutes in the country.

“Nevada continues to enhance its decanting statute to allow for even greater flexibility,” says LeBeau. “A lot of states have decanting statutes, but they vary in terms of what is allowed.  Nevada allows for changes that some of the other jurisdictions do not.”

For example, a married couple with adult children recently came to Whittier for help with trusts established in another state. “As we do with all of our clients, we spent time doing a deep dive to get to know the family and understand their life balance sheet, estate plan and goals,” he says. The family succeeded in decanting those trusts into new Nevada trusts with improved terms that boosted flexibility and satisfied the family’s goals.

2. Implement a Directed Trust

Other clients, often business owners or families with concentrated positions in real estate or a particular security, take advantage of Nevada’s directed trust laws. “Clients may want to be involved in investment decisions, or they may want another trusted advisor or family member who makes decisions about distributions [involved],” LeBeau says. “A directed trust allows for that flexibility. That way clients can maintain some of that control, but they’re able to employ a very favorable trust structure.”

3. Execute a Dynasty Trust

“Many clients come to us looking to build their legacy and maximize wealth for the next generation,” says LeBeau. “We often work with their CPAs, attorneys and other advisors to plan how to structure the estate plan.”

For some families, that means creating a Nevada dynasty trust funded with closely-held stock from the client’s company. “That creates the ability to pass on large amounts of wealth free of state income taxes and Federal estate taxes,” he says. 

Regardless of where you live, aspects of Nevada law can benefit your high-net-worth family now and for generations to come—all without the potential complications of heading offshore.

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Jul 26th

It’s a Match

Whittier Trust has a team of more than a dozen dedicated professionals responsible for protecting and growing all of our charitable clients. The passion these skilled matchmakers have for the philanthropic field is never more apparent than when they have the opportunity to connect Whittier Trust nonprofit endowment clients to Whittier Trust grant-making clients. Philanthropic clients often seek out the team’s expertise when looking for well-run charities that align with their goals and missions. Similarly, Whittier Trust’s nonprofit clients trust the team to help identify new qualified revenue sources. The diligent members of Pegine Grayson’s team explore all possible options and make special note when values, interests and visions for the future align between clients.

Whittier Trust Senior Vice President and Director of Philanthropic Services, Pegine Grayson, and her group never guarantee more than a personal and thoughtful introduction. However, they can offer exclusive visibility into certain nonprofit and grantmaking clients. Connecting these dots can be critical for grant making foundations and donor-advised funds that don’t publicize their efforts or existence through social media or websites. The insights and relationships the team has with their clients allows for more informed decision-making and can help save valuable time. The team is happy to provide win-win scenarios on a regular basis.

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Jul 21st

Beyond the Sport: Translating Sailing Values into Business

By: Haley Kirk Dahl & Kayla McComb La Dow

Sailing is one of the most unique sports in the world, transcending age and gender. It is more than a sport. It is a truly international community where sailors around the world can find comfort swapping racing stories and cruising tales. Friends found while sailing often become family for life.  

We (Haley Kirk Dahl and Kayla McComb La Dow) were raised sailing sabots in Southern California at Long Beach Yacht Club and Newport Harbor Yacht Club. Our parents introduced us to the sport and Haley’s father even built her brother’s sabot. At a young age, sailors are given a significant amount of responsibility; we are taught the value of properly caring for our boats and equipment, the importance of boat preparation (and the power of Teflon), the significance of reading the sailing instructions, along with the technical skills of racing. By the time we were in high school and traveling both nationally and internationally, we were also coordinating and budgeting for our regattas. 

We went on to sail in college at Stanford University (Haley) and St. Mary’s College of Maryland (Kayla), both becoming two-time All-Americans. Today, we work together at the Whittier Trust Company (the oldest and largest multi-family office on the west coast), while pursuing our MBA’s from the University of Southern California Marshall School of Business and continuing to race in local twilights and global team racing regattas.  

In thinking about this topic, we reflected on the sport of sailing and the skill sets that brought us here; preparation, teamwork, resilience and the Corinthian spirit.    

Preparation: The first step in preparing for any regatta (and today, Kayla’s first step in portfolio analysis) is establishing a benchmark and defining the end goal. Next, is creating a plan to monitor progress. The power of proper preparation is a main driver in creating opportunity.

Teamwork: It is the small sail adjustments and shifts in body weight that win races and the collective team that wins regattas. This philosophy extends to school and business—     understanding individual and collective roles are key components to overall successes. After college graduation, Haley trained with a new team to refine racing philosophies, connect varying team-race playbooks and, after three days of racing in the UK, became a Team Race World Champion. 

Resilience: Competitive spirit and a desire to win falls apart without grit. Recognizing when a plan needs adjustment and remaining resolute and disciplined is critical to long-term success. After two years of switching from a crew position to a skipper, Kayla finished second at Women’s Nationals and became the first woman to earn both All-American Women’s Skipper and All-American coed crew in the same year. 

Corinthian Spirit: Trust, respect, reliability and kindness are key elements to success both on and off the water. These attributes are key in connecting preparation, teamwork and resilience throughout all aspects of life.

We are very grateful for our sailing memories, family and travel that have brought us to where we are today. As professional colleagues, we understand that the smallest shifts can have a significant impact on our client’s end result, and we are always thoughtfully analyzing for such opportunities.

Jul 21st

Alternative Options: The Advantages and Challenges of Investing Outside of Stocks and Bonds

Alternative investments have been gaining popularity in recent years, a trend that’s likely to continue following the sell-off in stocks and bonds. While “alternative investments” may sound foreign, it is simply a catch-all term for investments outside of stocks, bonds and cash, and it can include anything from venture capital funds focused on technology companies to financing solar projects. “In a new market paradigm where fixed income and equity markets move in tandem, investors are turning to alternative investments for uncorrelated returns, diversification, income, inflation protection and impact investing,” says Whittier Trust Vice President and Portfolio Manager Jay Karpen.

According to RIA Intel, 82% of financial advisors surveyed at a Morningstar Investment Conference said they’re recommending alternatives to accredited investors. While the potential rewards for this type of investing can be alluring, Karpen cautions that it’s best to partner with a trusted professional. “Investing in alternatives is not easy,” he says. “These are complex instruments with uncertain timing, liquidity and risk/return impact on your portfolio.” Wealth advisors have a variety of reasons for recommending alternative investment vehicles, but it’s important to consider the following before diving in.

Complementing a Traditional Portfolio

Wealth advisors strategically invest in alternative assets to further a client’s goals and objectives. They can leverage these investments to improve risk/adjusted returns, diversification, cash yields and unique attributes, such as social and environmental considerations, that may not be available in public markets.

Recently, a Whittier Trust client was looking to build a diversified alternative portfolio of high-quality managers to complement their public equity and fixed income portfolio. “We developed a plan to reallocate their growth equities into select managers to enhance their expected returns, diversification and tax efficiency while targeting lower risk and not allowing the unfunded manager commitments to dilute potential returns,” Karpen says.

A Matter of Access

While demand has increased for alternative investments, so has the supply of options. In fact, the data provider Pitchbook tracks over 30 thousand venture investment management firms. “The challenge is that there are so many managers and the dispersion of quality is vast,” Karpen says.

While the top-tier managers tend to outperform public markets, average ones often underperform. A wealth advisor’s ability to identify and invest with high-quality managers is critical to success. This is particularly important in venture capital, where high-quality managers consistently produce top-tier funds.

Same Playing Field

Just because an investment is labeled as “alternative” does not mean it’s immune to the economic factors of traditional asset classes. For instance, private equity and public equity are both influenced by economic growth and market multiples (i.e. valuations) while public and private debt are both impacted by interest rates and the credit cycle. Wealth advisors should evaluate alternatives relative to public market equivalents to ensure the portfolio is achieving the best risk-return outcome and is not over-exposed to an economic risk factor. For example, you might not want to fund a private equity investment with public fixed income if it overexposes the portfolio to economic growth.

Overall, alternatives are much more complex than public securities. They can be subject to long lock-ups, capital commitments and limited liquidity windows. While they may generate significant short-term gains and ordinary income, they can also rack up expensive fees. “Be careful about conflicts: some managers compensate financial advisors for placing clients into alternative investments,” Karpen says. “This structure might not result in the best outcome for clients.” Wealth advisors should be able to evaluate and justify these complications.

Smart Alternatives


Adding alternative assets can enhance your portfolio’s goals and objectives by offering higher risk-adjusted returns, diversification and cash yield. However, alternatives should be evaluated relative to their public market equivalents, and their portfolio contributions should more than compensate for the illiquidity, complexity and higher fees. Partnering with an unconflicted wealth advisor who has access to top-tier alternatives and the expertise to evaluate them both on a standalone and relative basis to public securities is essential for the best outcomes.

Jun 28th

Whittier Trust Presents: Inflation and It’s Impact on Your Family and Business

The market turbulence of 2022 stands in sharp contrast to the utopian mix of easy money, low volatility and high returns seen in 2021. It is now widely acknowledged that inflation is perhaps the most disruptive theme contributing to economic uncertainty. High inflation can act as a tax and slow growth by itself. It also increases the risk of a policy misstep where overly aggressive tightening by the Fed may trigger a recession.

In this webinar, Sandip Bhagat, Chief Investment Officer at Whittier Trust, and David Shaw, Publishing Director at Family Business Magazine, come together for a discussion on inflation and its impact on your family business.

Contact us to learn more about how our team of advisors can help you.

Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. are state-chartered trust companies, which are wholly owned by Whittier Holdings, Inc., a closely held holding company. All of said companies are referred to herein, individually and collectively, as “Whittier”. The accompanying materials are provided for informational purposes only and are not intended, and should not be construed, as investment, tax or legal advice. Please consult your own investment, legal and/or tax advisors in connection with financial decisions and before engaging in any financial transactions. These materials do not purport to be a complete statement of approaches, which may vary due to individual factors and circumstances. Although the information provided is carefully reviewed, Whittier makes no representations or warranties regarding the information provided and cannot be held responsible for any direct or incidental loss or damage resulting from applying any of the information provided. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. These materials may not be reproduced or distributed without Whittier’s prior written consent.

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Jun 1st

Time for an Upgrade

By Jay Karpen

Following two long and challenging years of COVID, many of us are finally planning our next vacation to a far-off location. We deserve a smooth and safe flight, absent the unforeseen events – delayed flights, uncertain weather, airsick children. Spending time selecting the right travel partner is the best way to ensure a successful trip, just as selecting the right financial partner is the best way to achieve your financial goals and objectives. Would you trust anyone to fly you?

Experience and Credentials Matter

Whether you are selecting a pilot or an airline, you want a partner with the experience, training, and credentials to ensure you arrive safely at your destination. Someone who can leverage their expertise to both properly prepare and guide passengers safely on their journey because even a cloudless day may have pockets of unexpected turbulence.

An experienced financial advisor has that same advantage, drawing on decades of experience working with hundreds of other families to develop financial plans and construct portfolios for all environments – inflationary, high growth, recessions and changing tax regimes. Just as seasoned pilots prepare passengers for rough weather by ascending or descending to smooth elevations, the experienced financial advisor knows how to construct a portfolio that fits the needs and goals of each client’s unique situation – whether that be through investing in durable high-quality stocks and bonds, adding alternative investments or choosing the appropriate asset allocation for the client.

Discount Airlines Are Not Always a Bargain

There is often a temptation to choose a budget airline without evaluating the value proposition. A discount airline may offer a lower sticker price, but the seat may not be as comfortable, and you may end up paying significantly more in fees.

In the world of financial advisors, the same is true. Some financial advisors offer low upfront fees, but have expensive charges on their products (e.g., mutual funds) and ancillary services. Additionally, they do not have the low client to advisor ratio, access to top-tier investments, or client customization that high-end clients deserve. When evaluating financial advisors, selecting a premium transparent financial partner results in a first-class experience with fewer frustrations down the runway.

Turbulence Happens

Although pilots attempt to circumvent turbulence for the comfort of passengers, it is sometimes unavoidable. Fortunately, it is not something to worry about, especially if a pilot provides advance warning so passengers are safely buckled in their seats. Planes are designed to withstand gusts that most people will never experience in their traveling lives; the last turbulence-induced commercial flight crash was in 1966.

Similar to pilots, financial advisors attempt to avoid but expect market volatility. Since 1985, the S&P 500 has experienced a 14% sell-off on average each year. A good financial advisor prepares the client and the portfolio for this volatility, and when it happens, they hop on the “intercom” to reassure passengers, so they do not sell at the worst time, turning a temporary loss into a permanent one. A great financial advisor capitalizes on volatility to opportunistically deploy capital, tax-loss harvest, and utilize estate planning techniques.

Conclusion

We have been through a lot these past few years and deserve that vacation. Why risk a canceled or bumpy ride with a discount airline? Choose the premium option that will not only guide you through the inclement weather but will ensure you and your loved ones comfortably arrive at your financial goals.

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May 25th

Key Considerations for a Trustee

There are a significant amount of considerations to take into account when establishing a trustee for your estate.

In the case of a living trust, you may play all the roles of trustor, trustee, and beneficiary. In the event of your death, or in preparation for a time in your life when you no longer wish to (or feel like you can) carry responsibility for the estate, the trust becomes a necessary agreement to pass these responsibilities to a trustee to oversee your assets, ensuring they are managed and distributed according to your intentions. Your trust will likely far outlast you, and it is important to place the right person in charge of important decisions regarding your estate. A trustee takes on legal responsibility for your assets and carries fiduciary responsibility for proper management of the assets and fulfilling your intent for, and provisions within, the trust. This constitutes many important and detail-oriented duties from proper record keeping to diligent tax administration, to official asset consolidation, titling, management and discretionary distribution.

When selecting a trustee, it’s important to remember that the trustee can be sued by interested parties if it’s felt that they have breached their duty of care. From holistic asset management to meticulous record-keeping, their charge is serious and the trustee you select should be a character of high honesty and integrity, organized, and a great communicator with a sophisticated understanding of all wealth management pillars. It’s not uncommon for a trustor to select a family member or someone close to the family who checks all the boxes, but this can be a full-time effort with many looming situations that can test objectivity. Individuals can certainly be up to the test, but it may be more prudent to solicit the services of an institutional trustee. Inquire about their proven track record, account loads, and the size and expertise of their staff. An institutional trustee can help significantly in taking the burden off the family, help your trust actually reduce the cost of outside services, and ensure long term stability through many generations.

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May 18th

Inspiring Connection Through ESG

Your investment portfolio can be so much more than a collection of assets. All aspects of your wealth management should provide a sense of pride and fulfillment, and by aligning investment decisions with your values, your portfolio can begin to reflect what’s most important to you and your family.

Considering Environmental, Social and Governance factors (ESG) can help you chart a path toward more socially responsible investing. Environmental factors consider the impact on the planet caused by the companies you’re investing in. Social factors address a company’s relationship to their employees, customers and community. Governance factors look at corporate leadership standards. Contrary to popular belief, taking these factors into account does not mean you need to sacrifice returns. Companies that take these factors into account tend to mitigate risks, reduce taxes and ensure long-term sustainability.

“This sounds great, but how do I start integrating ESG into my impact investing?”

Speaking with your advisor should be enough to get that process started. Value alignment can happen in four easy steps. First, determine what matters most to you. Gather your stakeholders and discuss a few desired outcomes from your investments. Second, develop your impact statement. This will serve as an easy to reference compass when making decisions. Third, implement your ESG Strategy. Break this journey into easy to manage steps, and strategize for tax efficiency. Lastly, set up annual meetings with your advisor to check on your progress.

Incorporating ESG factors into your investment portfolio, can bring stakeholders closer together, establish a deeper connection to your assets and help you leave behind a lasting legacy.

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