Helpful Trustee

🍁Family wealth strategist; money is only the second most valuable resource. Trustee to $1B | 2X Co-founder | SFO Pres | RE and VC Investor | former tax lawyer

[Helpful Trustee @Helpful_Trustee]

Great newsletter as always.

The best FO investment talent needs 1) gunpowder 2) highly valued opinion if not discretion 3) mechanisms and policies to co-invest

The best non-FO investment talent needs 1) values / culture alignment and 2) financial capital budget and time commitment to human capital

[Helpful Trustee @Helpful_Trustee]

Consider an independent co-trustee @Leppo_9 nice 🧵 otherwise

[Tenfold My Life @TenfoldMyLife]

Wealth Idea #54: Trust Series
Trustee Selection
Choosing a trustee is often the most challenging decision in trust planning. The trustee will oversee distributions, interpret your wishes, and manage assets, potentially for decades. Here’s how to make a smart, confident choice. Let’s dive in...

[Helpful Trustee @Helpful_Trustee]

@frazerrice Your seat is complicated Fraze. I’m glad I’m not a family wealth strategist in the US and just a trustee.

[Helpful Trustee @Helpful_Trustee]

Go 🇨🇦! Tamarind Learning Canada might be a great resource for the ownership literacy journey.

The advice about slow execution following deliberate goal setting was the part that made me smile.

Alts are a very broad space and learning how to allocate to them (particularly the American managers) from a Canadian lens without layers of fees can be tricky.

[Helpful Trustee @Helpful_Trustee]

Just anecdotal but I still interact with a massive proportion of families with no EFFECTIVE IPS and investment strategy. Obviously once a CIO is hired this levels-up almost immediately. It seems like the policies and strategies should front run the CIO hire though. At least to funnel the right candidates towards you

[Helpful Trustee @Helpful_Trustee]

@MrFamilyOffice I think the hardest scale to manage is $25M to $100M. Not enough for a single family office but plenty enough for it to be a huge shame if the money screws you up and your family

[Helpful Trustee @Helpful_Trustee]

@heirsjournal Great newsletter THJ. I hope heirs find you in your valuable mission to find “A safe space where inheritors can share their experiences, challenges, and insights without fear of judgment or misunderstanding.”

[Helpful Trustee @Helpful_Trustee]

@personu07675725 @MrFamilyOffice One of the family bank processes I like is matching (competent) outside investors.

[Helpful Trustee @Helpful_Trustee]

@KatyBasinger @MrFamilyOffice That’s young!

[Helpful Trustee @Helpful_Trustee]

@MrFamilyOffice I find ways to bring these traits into their lives:

Grit. Growth. Good. Gone (believing the money can go at any time) and the biggie: gratitude

https://t.co/9RxRKla7Vx

Role modelling. Rituals. Rewards. Stories.

[Helpful Trustee @Helpful_Trustee]

@personu07675725 @MrFamilyOffice Support their entrepreneurship financially?

[Helpful Trustee @Helpful_Trustee]

@KatyBasinger @MrFamilyOffice How old were the kids when you started to explain your estate plan Katy?

[Helpful Trustee @Helpful_Trustee]

@MrFamilyOffice @TamarindPartner and their learning platform is the best I’ve used in this space.

[Helpful Trustee @Helpful_Trustee]

@VivaVicariously @MrFamilyOffice Time is our greatest resource

[Helpful Trustee @Helpful_Trustee]

@frazerrice “Empowering” entitlement sounds counter productive. This will be an eye opener!

[Helpful Trustee @Helpful_Trustee]

@MrFamilyOffice Oh man is this ever a big topic. The insurance gaps, particularly in cyber, are absolutely massive and they require reasonable practices by the FO for the coverage to apply… but those practices are not well laid out!

[Helpful Trustee @Helpful_Trustee]

@MrFamilyOffice My old FO targeted that, thereabouts. But the volatility (super low target) and permanent impairment of capital risk (not acceptable) were just as big as IRR

[Helpful Trustee @Helpful_Trustee]

@MrFamilyOffice I took the beneficiary education accreditation course which was excellent

[Helpful Trustee @Helpful_Trustee]

Nailed this @heirsjournal:

“I’m not saying it is easy to build a good body, I’m saying it is simple and straightforward…

… You will gain discipline and a work ethic two things that are incredibly difficult for heirs to obtain when wealth is all around us.”