The Institutional Real Estate Inc Sponsorship brochure, Connected-Investor Focused, We connect people, data and insights, sponsorship, events, IREI Products
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KARA MURPHY CIO United Capital Don't move too fast. at said, it's close to impossible to do nothing with the new money, as impulses are strong. So do something small with it initially. Where you do the significant work is in making space for the human being you are in rela- tionship with to process what has occurred. Iden- tity can shift, relationships can change. And that's fine, as long as the advisor understands this reality and has the intention, wisdom, and skill to explore deeply personal questions that profoundly impact client choices. Always leave Sudden Money® cli- ents room to back up and turn around. SUSAN BRADLEY Founder Sudden Money Institute ere are things you can do with a $1 million portfolio you can't do for a $50,000 account. e same is true at $5 million and as you go from $5 million to $100 million — you see private equity go from individual bets to a true program. But what would you do with $1.5 billion? Estab- lish a family office. 1. Hire an attorney with estate tax knowledge and who is famil- iar with partnership accounting 2. Build an investment team headed by a CIO with deep expe- rience in private equity 3. Hire four analysts: two pri- vate-equity analysts, one hedge fund investment analyst, one tra- ditional investment analyst 4. Hire an experienced CPA with strong partnership tax expe- rience 5. Set up a family foundation 6. Hire a full-time professional coach to help each family mem- ber understand the responsibili- ties and opportunities gained in the newly found wealth Sudden accumulation of wealth can lead to rushed decisions. We suggest clients stop, think, plan and then act. Our approach — regardless of a client's total assets — begins with our "discovery process," which iden- tifies and defines our clients' unique financial needs and aspirations. Our investment team then builds multi- ple, goal-directed investment pools aligned to meet the client's expected outcomes. Each goal typically focuses on self, family and community — like maintaining a current lifestyle, secur- ing money for a future lifestyle, fam- ily, education or charitable purposes — or even an "opportunity" pool for a small post-lottery splurge. More important than the dollar value of the portfolio are the client's goals. I would first ask: What is important to you and your family? As advisers, our most important goal is not to help our clients die rich, but to live richly. en I would work my client to understand tradeoffs. Is the client a philanthropist who wants to estab- lish an endowment? In that case, they might need steady income with downside protection that real estate can provide. Or is the client an entrepreneur and risk-taker who wants to grow that portfolio? at client might prefer to mix in more esoteric investments such as emerging market stocks and commodities. MICHAEL FARRELL Managing director SEI Private Wealth Management DAVID PERKINS President, CEO Hatteras Funds 53 REALASSETS ADVISER | D E C E M B E R 2 0 1 8