Wealth Management, Finance & Investing Blog

Lifestyle creep, or lifestyle inflation – when expenses rapidly rise to match newfound income – ensnares countless newly minted partners. Often there are underlying social pressures from peers or colleagues to keep up with new levels of conspicuous consumption. New indulgences and one-time splurges quickly become everyday necessities. It may begin innocently enough with a new car, a small remodel to an existing home, or a generous contribution to one’s alma mater, but it can quickly snowball in

Charitable giving is an important part of life for many clients. Whether donating money or property, dedicating time and effort, or a combination thereof, giving is a way to promote values and leave a legacy for future generations. Charitable giving can also be a valuable part of the overall financial plan, and understanding some basic ways to give can add significant economic efficiency to benefit the donor and their family for the long-term. On the strictly financial side, the 2017 Tax Cuts a

For many of us, our pets are beloved members of our families. They bring companionship and happiness, and like our human family members, they come with their own needs that require financial consideration. According to the 2021-2022 National Pet Owners Survey by the American Pet Product Association, the majority of American households (about 70%) have pets today.[i] Though in the past it may not have been the norm to provide for our animals in our estate planning, times have changed. Pet trusts

As a partner in a private equity (PE) firm, you have a financial interest in the fund that comes in two parts: a capital interest and a carried interest. The capital interest grants you important ownership and distribution rights, but it does not have much potential to increase in value. The carried interest, on the other hand, is a speculative investment that could be worth multiple times its initial value if the fund is successful. Given these attributes, carried interest can be an attractive

Business owners spend years building their business into something that not only represents their passion and interests, but also is a significant asset contributing to their personal net worth. That being said, there is often little time devoted to how the value of the business fits into the owner’s personal financial plan. Understanding what you need from the sale of your business to have financial independence and security for you and your family is crucial. This is what you work so hard to

What Can an OCIO Help With? While hiring an Outsourced Chief Investment Officer (OCIO) may seem like it has a high initial cost, and may feel like you are possibly giving up control of your investments’ performance, it can actually be the opposite. Hiring an OCIO gives you access to experience and resources you may not otherwise have, while also freeing up time for other tasks and eliminating or reducing costs that will improve the value proposition and experience for the client. Learn more her

As you continue on through what has hopefully been an exciting start to the year, it’s important to check in with yourself and your finances to make sure you are on track to achieve your goals. The following calendar is meant to provide some small steps each month that you can take to remain focused on your big picture financial plan. While it is not exhaustive, think of it as a template awaiting your customization and remember to revisit each of these areas next year too. January - As you begi

A client of mine has been dealing with her aging father and his cognitive decline over the past few years. She has witnessed him go from a highly engaged and intellectually curious individual to being anxious, confused, and unable to perform basic daily functions. My client has worked hard to keep her father’s home life stable and routine, but as a working single parent of two, she is nearing a breaking point in her ability to continue providing his care. This story probably doesn’t sound new t

As advisors, we know that money is a leading cause of friction in many relationships, but it doesn't have to be. Creating and agreeing on a plan for financial balance will help ensure you both know what to do when money conflicts arise. Whether you're married or not, combining households means you'll need to address financial questions like shared bills, housing costs, and planning for the future. Communicate early and often to forge an economic partnership that helps support shared goals while

As we kick off a new year, many of us are focused on keeping our resolutions and achieving our goals for a happy and healthy life. If one of your resolutions was to get your financial life in order, you’re not alone. With interest rates rising and inflation at a 40-year high, making smart decisions about money this year is top of mind for many people. An important part of managing your finances is making sure your estate plan is solid and your beneficiaries are set up properly. Caring.com, in c

At the end of December, Congress passed the SECURE Act 2.0 as part of the omnibus spending bill. The Act does not result in any substantial planning changes the way the original 2019 SECURE Act did (which eliminated lifetime stretch IRAs, to our collective dismay), but it does make nearly 100 smaller changes to the tax code. These changes revolve around retirement plans and expand the use and flexibility of Roth assets ("after-tax" retirement dollars), expand the conditions under which retireme

Relationships are many things, and one of those things is a financial partnership. But what happens if one part of that partnership chooses to relinquish all decisions to the other? Due to lack of interest or lack of confidence, it is common for one partner/spouse to manage the financial decisions. However, this can be both problematic and risky for the non-financial partner. The best financial planning processes engage both members of a relationship. It’s critical to find ways to both educate