Why Concentrated Wealth Requires Deliberate Risk Management
Introduction Most significant fortunes begin with concentration. A founder commits capital, time and reputation to one enterprise. A family retains property in a market it understands. An investor backs a sector before it becomes widely recognised. Concentration creates the possibility of exceptional wealth because conviction is given enough weight to matter. The discipline changes once […]
Building a Consolidated View of Family Wealth
Introduction A family can own valuable assets in several countries, through several entities, and still be making decisions from an incomplete balance sheet. The problem is rarely that nobody knows the assets exist. The founder knows the operating company. The investment adviser knows the listed portfolio. The trustees know the trust assets. The accountant knows […]