AICPA Innovative Practitioner Award Finalist

Jason ShrenskyFamily Wealth, Stewardship

The AICPA’s site recently announced the finalists for the 2018 Innovative Practitioner Award. Among the 6 finalists is David Butler, who was nominated in connection with his adoption of Complex Interests software. We are super proud of David and hope that you will vote for him here. (Voting is open through September 15.) You can read more about David’s … Read More

The Enemy of Stewardship: Part 2

Jason ShrenskyFamily Wealth, Stewardship

In part one of this series, we established that the stewardship of complex family wealth a) is important, b) is a job that requires some work, and c) like many important endeavors falls victim to procrastination. We further identified that fear (of a death in the family or of mismanaging an asset) is a necessary and effective motivator to cause … Read More

The Enemy of Stewardship: Part 1

Jason ShrenskyStewardship

At Complex Interests we have spoken with hundreds upon hundreds of families and family advisors. Almost all of them enthusiastically agree with the statement “stewardship of complex family wealth is important.” Yet prior to meeting with Complex Interests, very few families have naturally incorporated the discipline of stewardship into their wealth management routine. Why? Stewardship of complex family wealth is … Read More

Tracking Direct Investments

Jason ShrenskyBusiness Ownership, Stewardship

Ever increasing in popularity as an asset category and a common characteristic among families with complex wealth is direct investments in operating businesses and real estate ventures. While this investment class affords families the opportunity to achieve risk and return profiles differentiated from traditional investments, it also creates an administrative burden that one would not encounter with a traditional stock … Read More

Business Ownership comes in three flavors

Jason ShrenskyBusiness Ownership, Stewardship

Typically, the main factor that drives a family to pursue a formal wealth¬†stewardship plan is the complexity associated with the family’s ownership interest in private business entities. At first glance, the complexity is not obvious. Why is owning equity (shares, stock, membership interests, etc.) in a private business any different or more complex than owning a house or a car? … Read More

Does your family have a ‘Business Continuity’ plan?

Jason ShrenskyFamily Wealth, Stewardship

In the life cycle of a company, there comes a moment when management steps back and assesses the risks facing business operations. Invariably, one of the topics raised during this assessment is business continuity. The discussion almost always starts like this: “what if [enter catastrophic disaster scenario here] happens, how would our business be able to continue?” Often, this discussion … Read More

Who is the steward of your family’s wealth?

Jason ShrenskyFamily Wealth, Stewardship

At Complex Interests, we spend a lot of time explaining what stewardship is and why it is a vital component in the preservation of family wealth. In all of this analysis, one theme that should become clear is that stewardship is not that valuable as a concept; it is only truly valuable as a practice. For a family to successfully … Read More

What Complex Interests is not

Jason ShrenskyFamily Wealth, Stewardship

Historically, family wealth software options have generally fallen into two buckets: investment reporting software, and accounting software. Let’s examine the role of each in the management of complex family wealth. Investment Reporting Software Imagine that you manage investments for a high-net-worth family. There are probably three questions that are top of mind to you and the family: How are we … Read More

What is a “Concern” in the context of Stewardship of Family Wealth

Jason ShrenskyFamily Wealth, Stewardship

When we discuss stewardship of family wealth, the question often arises “so, this is all about tracking investments?” The answer is emphatically “no!” Rather, stewardship involves tracking the important legal and financial relationships that impact (or have the potential to impact) the family. When we boil down “important legal and financial relationship” to one word, the word we arrive at … Read More

Two paths to wealth transfer, which are you on?

Ryan FelpsStewardship

The transfer of wealth from one generation to the next is a significant event. There are generally two paths that are taken. ¬†One is completely reactionary and the other is the result of careful, thoughtful planning and work. While it’s obvious that reactionary is the wrong path to take, in the super majority of cases it is in fact the … Read More