Eight Principles of Strategic Wealth Management

Stuart E. Lucas is a fourth-generation heir to the Carnation fortune.Carnation was a family-owned business which made products like evaporated milk and non-dairy creamers before Nestle bought it in 1985.I was attracted to his book ‘ Wealth: Grow It, Protect It, Spend It and Share It’ ,because it was written by an unusual sort of financial adviser: a wealthy man with experience of managing his family’s wealth.

Personally,I’m not just interested in wealth building,but also in the ways of passing it down the generations.I was looking for some ideas on how to manage a family fortune that would hopefully grow over generations . I was looking for ideas on how to deal with family politics and the complexities arising from different temperaments and inclinations. I was looking for advice on  choosing investment managers, thinking about tax strategy,goal setting in the family etc.

Here’s a summary of what I culled from the book:- Read more of this post