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jerryking : private_banking   34

The Choices That Led Small Business Owners to Wealth - The New York Times
FEB. 12, 2016 | NYT | By PAUL SULLIVAN

have to make decisions to professionalize the business, put systems in place and have a plan that allows them to do longer-term planning. Those decisions can make the difference between being a small-business owner and a business executive with significant wealth....“There is no bright-line test when a company gets to a certain size or age to do these things,” said Kevin M. Harris, head of the family business group at Northern Trust. “It is based on where the company wants to go.”

Determining which decisions were the ones that made the difference is sometimes not an easy task, and the stories that are retold are often the ones that turned out well. Yet it is worth considering what can go wrong.

Entrepreneurs who failed to find success were often resistant to change
small_business  wealth_creation  decision_making  entrepreneur  risk-taking  mindsets  JCK  thinking_tragically  Northern_Trust  owners  private_banking  choices  internal_systems  professionalization  high_net_worth 
february 2016 by jerryking
Hedge Funds’ Idea Man - WSJ
Jan. 4, 2016

The 54-year-old Brazilian immigrant is part of a larger ecosystem of consultants who sell their investment beliefs to hedge funds. The funds, hungry for returns or cheap hedges for their portfolios, get fresh ideas that comprise or inform their wagers. The consultants, in exchange, often expect to share in gains tied to their ideas, they and their clients said.....The ideas don’t always result in profits. ...Such arrangements make some veteran investors in hedge funds uneasy.

“If your manager’s renting a lot of ideas, you have to question the value-add they bring to the partnership,” said Chuck Bryceland of New York-based Bessemer Trust, which advises wealthy families and individuals on investments, including in hedge funds. “We want our people generating primary trade ideas and doing the primary work themselves.”
investment_advice  investment_research  ideas  Wall_Street  money_management  private_banking  hedge_funds  shareholder_activism  traders  exclusivity  idea_generation  value_added  financial_advisors  high_net_worth  Bessemer  Bessemer_Trust 
january 2016 by jerryking
Banks Pull Out All the Stops for Ultra-Rich Clients -
Liz Moyer
Updated March 20, 2014

Banks are taking the hand-holding business to a new level.

From helping with the purchase of a plane to organizing college tours for children—and even finding assisted-living facilities for sick relatives or evacuating them from foreign locales—some banks are drastically expanding the menu of "concierge'' services they offer to prized customers.

Banks see these so-called lifestyle-advisory services, which are typically included in a wealth-management plan, as a tool to attract and retain ultrarich clients at a time of heightened competition. Banks generally don't charge additional fees for the services, though the client pays for whatever they procure.
private_banking  high_net_worth  concierge_services  Tiger21  lifestyles  hand-holding 
march 2014 by jerryking
Private enterprise
Jan/Feb 1996 | Canadian Banker | Carolyn Green.
private_banking  BMO  wealth_management  women 
august 2012 by jerryking
Several Suits Reveal Risks in Serving Asia's Rich
November 19, 2008 | WSJ | By TOM WRIGHT in Jakarta and LAURA SANTINI in Hong Kong.
high_net_worth  Singapore  litigation  private_banking  Indonesia  risks  Southeast_Asia 
august 2012 by jerryking
Have $50 Million? Come On In -
February 1, 2005

Have $50 Million? Come On In
Milstein Opens Private Bank In a Rare Start From Scratch; The Gold Rush for Ultrarich

Stock Quotes

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high_net_worth  financial_services  wealth_management  New_York_City  private_banking  commercial_real_estate  moguls 
august 2012 by jerryking
Crisis fails to dampen art service demand at banks
Oct 17, 2008 | Reuters | By Jo Winterbottom.

The art advisory service belongs to the overall wealth management offer. I don't think it will be cut back," said Karl Schweizer, head of art banking and numismatics at UBS.
high_net_worth  private_banking  collectibles  collectors  wealth_management  art  art_advisory  precious_metals  valuations  auctions  affluence  investment_advice  banks 
august 2012 by jerryking
An Industry in Flux
January 2004 | Robb Report Worth | by Dwight Cass
wealth_management  private_banking  high_net_worth 
august 2012 by jerryking
Are You Being Served?
January 2004 | Robb Report Worth | by Michael Sisk
private_banking  high_net_worth  wealth_management 
august 2012 by jerryking
It's hard to make a graceful, final exit
Nov. 23, 2011 | The Financial Times. (): News: p14. |Luke Johnson
Once you have sold you will certainly receive special attention thanks to your "liquidity event". Wealth managers and private bankers will call incessantly, hungry to look after your loot. Charities too will come knocking, hoping you will become a generous philanthropist. Long-forgotten friends will get in touch, happy to rekindle the acquaintance now that you are so evidently rich. New friends may suddenly emerge, keen to help you spend your wealth.

Consequently you will have to learn to say no rather more often, and to spot the phoneys and envy that usually appear. [ conservative, be discerning, be picky, be selective, say "no"]

Over time, probably half of all entrepreneurs who've sold up start a new venture.
exits  entrepreneur  Luke_Johnson  serial_entrepreneur  say_"no"  succession  philanthropy  wealth_management  private_banking  liquidity_events  charities 
november 2011 by jerryking
BMO courts the ultrarich
Sep. 20, 2010 | The Globe and Mail | Grant Robertson
private_banking  BMO  high_net_worth 
september 2010 by jerryking
Pictet Partner Reflects on His Career and Asian Growth -
JUNE 8, 2010 | WSJ | by DUNCAN MAVIN. WSJ: What has surprised
you most about Asia's private-banking industry?

Mr. Pictet: I am impressed by the tremendous ability of Asian
high-net-worth individuals to create wealth through their business
networks. They didn't just survive the last few financial market crises
relatively unscathed, but also demonstrated their remarkable capability
to replenish their liquidity in a very short time frame.

WSJ: What's the difference between high-net-worth investors and the rest
of us?

Mr. Pictet: Generally, if you are talking to high-net-worth clients
familiar with financial markets on a world-wide basis, they tend to
target a return on investment with a shorter time horizon. They
personally get involved in decision-making rather than giving a mandate
to professional managers, and assume a somewhat higher risk profile with
frequent use of leveraging.
private_banking  high_net_worth  Asians  leverage  personal_involvement  risk-taking  ROI  time_horizons  holding_periods 
june 2010 by jerryking
Asian Deal Journal: Tapping Into Private Wealth -
MARCH 22, 2010 | Wall Street Journal | By NISHA GOPALAN. Banks Rush to Tap Asia's Wealth
private_banking  China  India  high_net_worth  Citigroup  Barclays  UBS  HSBC  JPMorgan_Chase 
april 2010 by jerryking
Goldman's Fortune Hunters
April 2008 | Bloomberg Markets Magazine | By Anthony Effinger
Goldman_Sachs  Lloyd_Blankfein  family_office  private_banking 
february 2010 by jerryking / Wealth - Language skills prove an asset
August 13 2007 22:08 | Financial Times | By Lauren Foster in
New York

In July 2007 – nearly eight months after the deal was announced – BofA
completed the acquisition and announced its business serving wealthy
clients would be called US Trust, Bank of America Private Wealth
high_net_worth  private_banking  talent_management  linguistics  languages 
april 2009 by jerryking / Reports - Me and my adviser: It’s who you know that counts
Published: March 27 2007 02:08 | Last updated: March 28 2007 11:34 FT by David Wighton in New York
high_net_worth  real_estate  relationships  private_banking  Citigroup  financial_advisors 
march 2009 by jerryking
New Status Symbol: Family Mission Statements
Oct. 12, 2007 WSJ column by Robert Frank on the popularity of family mission statements to keep the peace in affluent families.
Robert_Frank  high_net_worth  family_office  private_banking  mission_statements 
january 2009 by jerryking / Wealth - 'Only a reshuffling of risk'
Aug. 7, 2007 article by Lauren Foster in which she interviews
Mary Callahan Erdoes, CEO, JPMorgan Private Bank. Erdoes discusses her
bank's response to the ate July 2007 stock market tumble.
risk-management  risk-taking  wealth_management  private_banking 
january 2009 by jerryking

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