Article by Russ Alan Prince Generally speaking, for many star musicians, the music business is not as profitable as it once was. The industry is changing in many ways. For example, live performances have become the primary way to generate revenues for many musicians. At the same time, a positive trend is that a growing [...]
Article by Russ Prince While the ultra-wealthy continue to collect possessions, there is a very pronounced trend to “living life to the fullest.” This translates into collecting outstanding experiences. According to Angelo Robles, founder and CEO of the Family Office Association and author of Effective Family Office, “Generally speaking, while the very wealthy have always wanted to create [...]
Article by Russ Prince Most successful technology start-ups are bought by other – usually larger – technology companies. The result is the entrepreneurs/owners of the start-ups become wealthy whether in stock in the acquirer or in cash or both. In a substantial percentage of these situations, if the tech entrepreneurs paid more attention to their [...]
Article by Russ Prince The global super-rich have personal fortunes of US$500 million or more. In most cases their wealth is considerably more. Their personal and business interests span countries and continents. Most have multiple citizenships by design. Also, they tend to – in one manner or another – leverage the single-family office business model, broadly defined. It is [...]
Article by Russ Prince Private placement life insurance is the most transparent life insurance structure. It can also be exceedingly cost-effective with the ability to mitigate or eliminate the financial drag of taxes. According to Evan Jehle, partner at FFO Business Management & Family Office, “Private placement life insurance for the rich and super-rich can be an excellent way [...]
Article by Russ Prince Asia is producing a great number of new super-rich families (net worth = $500 million or more). At the same time, those families new and older are establishing single-family offices. With respect to established ultra-wealthy families, the children or grandchildren of the wealth creators, depending on when the family fortunes were initially founded, are [...]
Article by Russ Prince More than 30% of financial advisors currently have some sort of joint venture arrangements. This is according to a study of 803 financial advisors. From the perspective of the three types of business models, 45% of multi-family offices, 40% of wealth managers, and slightly more than a quarter of the financial advisors have [...]
Article by Russ Prince “The tremendous accumulation of wealth is occurring in a time of great uncertainty leaving many at political, financial and personal risk. This, coupled with increasing meddling by governments – often with unclear motives – in one’s personal affairs, necessitates that creative jurisdictional planning be part of traditional wealth planning. Too often [...]