Private Client Services

Our Private Client practice developed as an outgrowth of our planned giving seminars and workshops with foundations and not-for-profit organizations.  The topic is generally marketed as Wealth Management, a rather pretentious label for the dynamic interplay of investment alternatives, optimized within our federal tax framework.  We found that both donors and not-for-profit organizations (and, to our surprise, their tax and financial advisors) often have, at best, a rudimentary awareness of tax liability and deferral strategies, but virtually no understanding of how or when to apply these strategies to which assets, and under which circumstances, to achieve specific goals.  And rarely is the appropriate investment strategy discussed within the parameters of the specific tax-deferred vehicle.

As an example, a charitable remainder trust is applicable for the investor that meets key criteria:  a desire to sell an appreciated asset and defer the capital gains tax, receive an income for life, and ultimately make a charitable gift.  It is suitable for an asset, or assets, in excess of $250,000, that an investor intends to exhaust during his(her) lifetime, and then leave whatever remains to charity.  It is not suitable for the investor who intends to leave that asset to the children.  It is generally not suitable for the investor (especially the real estate investor) who simply wants to avoid paying taxes, and has no charitable intent.  It is not suitable for the investor who has no desire to sell the appreciated asset.  The whole point is to defer the capital gains upon the sale, and diversify into a readily marketable portfolio.  There is a burgeoning practice among tax attorneys to unwind charitable remainder trusts (at great expense) created during the recent real estate boom, for investors who were unaware of all the features and constraints.

At the request of our clients, our practice evolved into the analysis and recommendation of other potential tax-deferral and investment opportunities applicable to a diversified portfolio.  Our investment management practice began to accommodate individuals as well as organizations.  We have analyzed and recommended real estate and alternative investments, private equity and venture capital proposals.  We have developed a network of tax and specialty advisors to supplement and enhance the overall advice we provide.

•  Development of an overall estate plan
• Sophisticated gifting strategies and vehicles to accomplish tax, estate, and charitable goals
• Investment management consulting and active management.