Family Wealth Management Seven Imperatives for Successful Investing in the New World Order

by Daniell, Mark Haynes; McCullough, Tom

• ISBN13: 9780470824290
• ISBN10: 0470824298
• Edition: 1st
• Format: Hardcover
• Copyright: 2013-11-18
• Publisher: Wiley

Summary

Family Wealth Management provides a new and entirely unique model of investing which is both high return and consistent with a set of valuable ethical and governance principles. Investors can pursue an approach to the investment of their family wealth which achieves docile return without sacrificing the principles upon which they may choose to build their family legacies. Investing substantial family money is not easy. Investing that wealth in a manner which is both ethical and effective is an even greater challenge. The increase of volatility and risk in financial products, the rising expense of financial services and the complexity of global financial markets have made the investment of family wealth increasingly difficult. Finding the right balance of risk, return and investment decisions is not an easy task. Optimizing returns while pursuing a path of principled investing is an even greater challenge, adding a dimension of extra complexity but also extra value to a family's portfolio objectives.

Author Biography

Mark Haynes Daniell is the founder and Chairman of the Raffles Family Wealth Trust, based in Singapore. He also chairs The Cuscaden Group, his family’s own private office, also based in Singapore. He is a former director of Bain & Company, one of the world’s leading strategy consulting firms, where he worked for more than two decades with some of the world’s wealthiest families and their businesses. Mr. Daniell has also served as director of Wasserstein Perella, a mergers and acquisitions advisory firm in London and Paris, and was the founder and chairman of Singapore’s national Private Wealth Management Initiative.

Tom McCullough is Chairman and CEO of Northwood Family Office LP, a Toronto-based multi family office which serves the comprehensive financial needs of families of significant net worth. Northwood was founded in  2003 and has quickly risen to  prominence as an international leader in its field. Mr. McCullough has spent thirty years in the wealth management/family office field and is also an adjunct professor of finance at the Rotman School of Management at the University  of Toronto where he teaches  ‘The  Management of Private Wealth’.

Table of Contents

Introduction
I. Principled Investment
II. A Brief History of Family Wealth and Private Investing
III. The Capricorn Journey
IV. The Elements of Successful Family Wealth Management 
V. Redefining Risk
VI. The Investment Process
VII. Family Profile, Vision and Objectives
VIII. The Family Principled Investment Policy Statement
IX. The Forward macro-Framework
X. Modern Portfolio Theory
XI. On History and Heresy
XII. Strategic Asset Allocation
XIII. Manager and Investment Selection
XIV. Tactical Approaches to Traditional Asset Classes
XV. Tactical Approaches to Alternative Asset Classes
XVI. Tactical Approaches to Real Asset Classes
XVII. Direct and Co-Investment
XVIII. Truly Global Investing
XIX. Family Wealth Management for Millionaires
XX. Family Wealth Management for Billionaires
XXI. Investment for Endowments and Philanthropies
XXII. Managing Advisors, Managers and the Investment Eco-system
XXIII. Managing Risk (Turbulence Opportunity)
XXIV. Reporting, Control and Rebalancing
XXV. A Comprehensive Context for Family Wealth Management
XXVII. Achieving Consistently Superior Returns