News
Wealth Overview
Are You a Strategic Planner or a Hired Gun
How do you attract and retain wealthy clients? Do you know the names of the next generation?
When your client says that he wants to throw Billy out of his will and make his son John CEO of the family company, do you ask questions or do you just take notes? Do you know the difference between being a Hired Gun or being the families Most Trusted Advisor?
If you do not take succession and family dynamics issues into account, the plan that you are developing for your clients will fail. This seminar has been given to various groups for which the California Bar Association and the California Accountancy Board has granted CLE continuing education credit.
Planning Retreats With A Facilitator
Why should you have a retreat? The dining room table is NOT a no-fly zone.
A retreat will give your family the liberating experience that clarifies goals and offers all parties a relaxed, neutral, comfortable atmosphere to discuss issues of the family business. Ground rules apply, and the facilitator helps keep those rules intact. Your family has unique communication situations.
Learning to communicate effectively with out detonating a Neutron bomb is critical. If you told an employee what you would tell a family member you would be sued. You only know about an employee from what was put on their resume, what you have witnessed or what you heard about at the company year-end party. A family member remembers what you did when you were eight and you have not been forgiven! Transparency and great communication skills are critical for success. Any of the Oppenheimer seminars can also be done as a family retreat.
Family Dynamics: Survival Course
Et tu Brute? The Hatfield’s and McCoy’s. This series is about Good and Bad Family Dynamics in Action.
Oppenheimer uses his own family’s extensive family dynamics as a case study. There is no depth to which a loving family will not sink when sabotaging family dynamics are creating havoc with your goals. Do you know the Top Ten Danger Signs that family dynamics are overcoming your 100-year plan? Acknowledging family dynamics is an art form.
There will be dynamic issues in your company, philanthropy or family office. Succession and family dynamics are a part of every arena. There will always be changes, marriages, divorces, deaths or births. As if it weren’t complicated enough dealing just with family members, we must be prepared to handle the entrance of our own or other family member’s beloveds. If children from a previous marriage are also a part of this scenario, do they automatically become included in the trust? These are serious considerations that directly affect the rest of the family. The answer is great communication, transparency and trust. Knowing the pitfalls in advance can save years of tears and discord. A family change for which there is no plan becomes a family crisis.
The Perils of Being a Family Trustee
You are flattered that your father or mother has asked you to be a Trustee for their estate.
Oppenheimer was selected by his father to be the trustee for his estate. However when the will was read he discovered that one of his three brothers had been disinherited.There was extensive family dynamics in Oppenheimer’s family. It was a difficult and delicate situation. The survival of the family depended on an equalization resolution.
From personal experience he can tell you that you should NEVER agree to be the trustee of other family members unless you have institutional trustees involved. Oppenheimer has been a senior executive for investment companies, banks and trust companies. From personal and professional experience he can relate stories and perspectives of the importance of selecting an appropriate institutional trustee to meet your short-term needs and long-term goals, and avoiding being one yourself!
Investment Basics for Foundation Board Members
The IPS is a written statement, formally adopted by a Board, that states a foundation’s mission and goals and how investment policy and practices will help achieve those goals.
The IPS will include a list of assumptions and expectations; constraints and limitations; and a well-defined investment strategy.
- The critical importance of the Investment Policy Statement.
- Reducing Risk while maximizing Returns - Importance of Diversification.
- Importance of Managing Fees.
- What financial terms do you need to know to understand your asset managers?
- What is Modern Portfolio Theory?
The IPS will also include the process, whether formal or informal, for the selection, evaluation and the review of the outside managers and advisors. Very important, the IPS will designate the duties and responsibilities of all parties involved from the board, employees and managers and advisors.
