Here at LNWM, we often see our clients hit the reset button in their 60s. At first, this can be kind of scary for people. But it is usually very much worth the effort. Be it cutting back on work, volunteering, or returning to a favorite activity long abandoned, the 6th decade is the time to explore, reconnect and rekindle. The story of Suzanne Zahniser, Corporate Secretary at LNWM, is a case in point.
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Rob Hille, LNWM’s General Counsel and Chief Compliance Officer, was recently interviewed by International Investment Magazine on a topic that we do a lot of work on: controlling all sorts of risk, not just investment risk.
As Paul Golden, Family Office Correspondent pointed out in the article, “some of the non-investment risks faced by family offices include: security of data; physical safety and health of family members; prepare the next generation to take charge; protection against divorce and fraud and embezzlement by family office staff.” Even use of social media can present hazards.
According to Rob: “The ability to analyse large amounts of data has helped identify trends and areas that merit a closer look or require greater controls. Testing of systems can be better accomplished with new software and this can apply to internal processes as well as vendor due diligence.”
As the Puget Sound Business Journal (PBSJ) reported recently, a new partnership between Laird Norton Wealth Management (LNWM) and the Seattle Symphony will work to ensure that the Seattle Symphony continues to thrive now and for generations to come.
The partnership aims to strengthen the Seattle Symphony by educating donors on financially-responsible ways to show their support while planning their estates. As PSBJ reports, legacy gifts, which come to the Symphony as part of the donor’s estate plan, currently bring in 6% to 7% of the Symphony’s annual funding from private individuals. Such gifts support the symphony’s artistic and community programs, and also help build its endowment for the future. Read the LNWM Press Release on the partnership here.
What should all investment clients know and understand? LNWM Client Advisor Sam Craig was asked that interesting question for an article in Alaska Airlines Magazine. Here is Sam’s answer (on pages 158-160):
“Investing should be done in context of life goals and as part of an overall financial plan. This helps guide your decisions, not just about investments and returns but about how to use financial tools to create the life you want.
Wealth means more than money. Making deliberate decisions — be it about the size of your mortgage or how to pass on the family business gives you much more control over your finances and your life. It also gives structure to your spending, your ability to deal with rsk and your plan for an active retirement. Operating without clear intentions is like operating without a rudder.”
“In a year of significant change and uncertainty, we want to be a stronghold of trust, and that’s why we’re celebrating and reflecting on our successes of the past 50 years as we open new doors to the future,” says Bob Moser, president and CEO of Laird Norton Wealth Management. … Read More