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The Long View

Why We All Need A Mission

By Charles Lowenhaupt

I recently had a fascinating conversation with Spencer Kympton of The Mission Continues, the nonprofit organization that helps veterans adjust to life at home and find purpose through community engagement.

Spencer went to West Point, served in the military, and received an advanced degree from Harvard Business School. Afterward, he secured a prestigious job at a consulting company. Despite his apparent success, he still felt unsatisfied. He wanted to help others, so he turned to the nonprofit world of community engagement. Ultimately, he joined The Mission Continues, where he could draw on his experience in the military and his family’s experience in the service. Today, he is the President of the organization.

The Mission Continues is a terrific example of the power of engagement and self-actualization. As leader of the organization, Spencer now enjoys the contentment lacking in his life as a consultant, and he has a clear mission – just as he did when he was on active duty.Read More

Read All About It: The Wise Inheritor’s Guide To Freedom From Wealth

By Charles Lowenhaupt

Just after I finished writing my just-released second book, The Wise Inheritor’s Guide to Freedom From WealthI wrote a piece for a well-respected publication about an unhappy wealth inheritor who was struggling with addiction, fighting to refashion his legacy, and who ultimately died. I saw in his story some clear illustrations of the challenges many wealth inheritors face as they try to live productive lives and put money and legacy in their place.

I thought the perspective was entirely relevant for inheritors and their families. Surprisingly, I was criticized for focusing on the misfortune of one wealth inheritor without talking about all the happy wealth inheritors in this world. Indeed, one of the industry’s leading consultants wrote to tell me that it is time to quit talking about the challenges of wealth. Instead, I should start highlighting all the successes of wealth.Read More

Active vs. Passive Investing: The Virtues of Active Management

By Charles Lowenhaupt

As volatility returns to the market and inflation is again top of mind, it would be wise for private wealth holders to revisit the fundamentals of their investment philosophy.

If they have managed wealth properly, very little will have changed over years. As always, the starting question remains same: What is your wealth for? Due diligence, asset allocation process, and diversification remain the foundations of good wealth management. With the new tax law in the U.S., wealth holders may also want to revisit many of their tax strategies.Read More

Who Will Be The Champion Of The Wealth Inheritor?

By Charles Lowenhaupt

Who usually gets treated the worst when a wealth holder, his wealth advisor and his child deal with the family fortune? The wealth inheritor.

That may come as a shock to wealth holder parents who believe they are doing everything they can to help their children be successful and their wealth advisors who are supporting the “next generation,” but it’s no surprise to wealth inheritors. Too often, they are mistreated by their parents and mishandled by their wealth advisors. The result: Many wealth inheritors are miserable.

Wealth advisors can do a world of good for individuals and families of significant wealth if they realize the plight of the wealth inheritor and redefine their role as advisor. (more…)

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