Wealth Actually

Occasionally we get a court case that has ripple effects across the fiduciary, asset management and investment management industries. In this episode, we’re going to look at the Potentially massive implications of the recent Supreme Court case, Hughes vs Northwestern The original issue before the Court was whether or not the 403(B) plan participants had properly plead their case in their complaint...

The world of property and casualty insurance is undergoing a significant business model change- Emerging risks to HNW clients include the impacts of COVID and climate change to their businesses and assets. Additionally, there are two relatively new frontiers of risk: cybersecurity and social media . These lightly understood risks can pose a threat to clients’ assets, businesses and reputations. He...

All of us have become more reliant on technology and software to solve problems and improve our lives.  However, many of us understand less and less about the programming that goes into these solutions.  Further, we forget or ignore the human element of this problem solving.   In this episode, I speak with ANDY HUNT who has devoted his life to these issues. Andy Hunt is a programmer...

In this slight detour for the show, I spoke with New York-based political commentator, DEROY MURDOCK.. We have an invigorating chat about INFLATION and GUN CONTROL, two topics that are galvanizing investors today.  We later focus on the implications of these issues for the 2022 and 2024 elections. Deroy has been a Fox News Contributor since 2012, a Contributing Editor with National Review Onl...

Anyone who knows me knows that golf is one my main hobbies. It is a huge treat to be able to speak with ROB LABRITZ as he embarks on his first season on the PGA Champions Tour. In addition to playing on the Senior Tour this year, Rob is the Director of Golf at the GLENARBOR Golf Club in Bedford Hills, NY. He is one of the top PGA playing professionals in the U.S. He won the 2022 PGA TOUR Champions...

In this episode of the Wealth Actually Podcast, I speak with my good friend, Paul Sullivan. Paul wrote the wildly popular Wealth Matters column in the New York Times and currently writes the Money Game column for Golf Magazine.  We certainly talk about those experiences, but the focus of our discussion is on his exciting new project, THE COMPANY OF DADS . This company is the first platform dedicat...

MAXIMIZING EXECUTIVE AND FAMILY OFFICE TALENT In this 101st episode, we’re going to explore the disconnects in Human Capital Development. This is a crucial issue for family enterprises looking to transition to the next generation, closely held businesses making crucial hires and startups looking to take their business to the next level. To no one’s surprise, Covid, Remote Learning and WFH have had...

Welcome Back to the Wealth Actually Podcast- This episode marks a big milestone.  We have hit the 100 th EPISODE. I was pleasantly surprised to see that we have been downloaded in all 50 states and 114 countries. A big thank you to everyone who listens. As always, it’s great for the show’s momentum if you subscribe, leave reviews and share. For this 100 th episode, I’m thrilled to have m...

Welcome back to the 99 th episode of the “Wealth Actually” Podcast . . . (We’re recording right before Christmas and I’d like give a special thanks to Matthew Passy who helps me sound good and make the trains run on time.) With the end of the year fast approaching, philanthropy is on the minds of many people. For charitable organizations, the mad rush to meet their goals underscores ma...

Life insurance is one of the core tools in wealth management. It replaces income for families, funds the payment of estate taxes, and, given its tax advantages, can serve as an investment vehicle. However, the culture of life insurance, its sales process and its regulatory framework live apart from the world of stocks and bonds. To that end, there is a new framework in New York that is changing th...

This latest podcast is special because it harkens back to 2000 when I wrote a paper in law school about the use of securitizations to disrupt the music industry.   I mused about the disruption of the music industry and the demise of the traditional way of doing business.  I wasn’t far off! The music industry has undergone enormous changes with the advent of streaming. The demand for cont...

The College Admission season is in full swing and it brings it usual stresses. However in the world of intergenerational planning, it’s a unique opportunity for families to discuss their core values and the development of their kid’s personal narratives.  It is chance for families to collaborate on a life changing decision around the kids future- a process in which the engaged kids have a ves...

Here is sneak peak of my podcast with David Pullman- in this outtake, we talk about his experience with David Bowie and how the song “Fame” represented a major pivot in Bowie’s career AND Pullman’s! A fascinating tidbit into Bowie’s prescience- A must listen for the NFT crowd. The full interview will drop shortly . . . DAVID PULLMAN https://www.amazon.com/Wealth-Actually-Intelligent-Decision...

You can’t go two minutes without hearing about the allure of venture capital and private equity or the cult of entrepreneurship and the start-up. However, these things are hard!  Venture and P/E require large pools of patient capital, deep expertise and long time horizons. Entrepreneurship requires a unique angle, force of will, operational deftness and a 24/7 personal commitment to success....

Quan is the author of his memoir “SPARROW AND THE RAZOR WIRE” His is an amazing story of redemption, the importance of second chances and the power of entrepreneurship. https://www.amazon.com/Sparrow-Razor-Wire-Finding-Sentence-ebook/dp/B08F34LBXL Quan spent twenty-two years in and out of correctional institutions, including a life sentence for murder. He was paroled 2015 and created his first...

New York City residents have the highest State and City tax burden in the country (it’s over 15% at the top level, recently overtaking California). It’s no surprise that New Yorkers are constantly strategizing around their tax burden and potential moves to other states- especially for high earners or those looking to sell a business. But a lot of New Yorkers suffer from ‘advice b...

GRIFFIN BRIDGERS wears two hats – estate planning attorney, and content creator .  He is a partner with the law firm of HUTCHINS & ASSOCIATES in Denver, Colorado, and also is piloting a fledgling media venture centered around bespoke tax and estate planning education in the digital age.   IN THIS EPISODE: Quick tour of the changing estate planning landscape and the legislative...

In this episode, MATTHEW MCCLINTOCK joins us. Matthew is a high end estate planning attorney and is a Principal at EVERGREEN LEGACY PLANNING which is based in Colorado. He has built his practice at the cutting edge of Cryptocurrency and Estate Planning, a field that is evolving by the day. This is Matthew’s second appearance and he’s on again for a good reason. We last recorded Oct. 2...

The LGBTQ+ community has always been an important part of American fabric. But it’s only in last two decades that society, the law and the financial services industry have started to catch up to the community’s unique planning needs.  To help us put context around these features and the evolution of the law, I spoke with estate planning attorney, Brian Balduzzi Brian is a lawyer in Phi...

For many wealthy families, concentrated liquid investment positions present special types of issues. More often than not, a diversification plan for a position that has been built up over decades, is relegated to a 5 minute discussion.  And it shouldn’t.   From low-cost basis issues, income requirements, family executive involvement and even other factors like emotional attachment...

Divorce in the Ultra-High Net Worth Space is a little bit different.   Gates, Bezos, Kardashian . . . You don’t have to look too far into the headlines to see how important this space has become for wealth families. While the emotional pain is the same, the stakes are higher and the process can be more complicated.   OLIVIA SUMMERHILL joins us to help us think through the issues. In her pr...

“Shirtsleeves to shirtsleeves in three generations” is as old as commerce itself. Family enterprises rarely make it beyond three generations for many reasons. Today, we hear the story of the Grossman family from BEN GROSSMAN who co-operates the family business with his brother, David. They are fighting that “Shirtsleeves” phenomenon with an interesting set of tools and inte...

With interest in alternative asset classes at an all-time high, the focus of family offices and other investors has been to investigate more “liquid assets.” We’re not talking about cash or oil . . . the spirits world has produced scores of profit stories at the asset class and business level. Bourbon is a niche that has been on fire recently . With a low interest rate environmen...

With the Biden proposals comes the potential for tax increases at the income, capital gains and estate tax level. Life insurance is becoming interesting again to a lot of families looking to expand on their functions of income replacement, business succession and tax planning. Using trusts and other structures to amplify their effectiveness is shifting back into focus. The ongoing maintenance of t...

Puerto Rico is a jurisdiction that excites the imaginations of wealth planners. It has interesting attributes for American citizens that other non-U.S. jurisdictions don’t. For instance it is the one place that American citizens can greatly reduce their Federal Income tax liability without having to renounce their citizenship. This has generated an enormous amount of interest. There is good...