Nation's Richest Focus on Building Wealth and Giving It Away in 2007.Boosting Philanthropy, Managing Taxes, Structured Products Top Annual Wealth Manager Poll NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Leading advisors to the nation's wealthiest individuals and families are talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to their clients about new ways of building wealth and new ways of giving it back to the community during 2007. That's the insight from the latest snap poll of the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Wealth Management Advisory Council, a select group of leading wealth management advisors who provide a combination of financial and investment advice to high-net-worth clients. "Warren Buffett Warren Buffett Known as "the Oracle of Omaha," Buffett is Chairman of Berkshire Hathaway and arguably the greatest investor of all time. His wealth fluctuates with the performance of the market, but for the last few years he has been reported to be worth over $30 billion, making and the Bill and Melinda Gates Foundation's stunning charity announcement in 2006 is changing the way wealthy individuals are thinking about giving money away," said James A. Covell, senior vice president - financial consultant, RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Dain Rauscher. "In addition, preserving and maximizing wealth through innovative new investments and smart tax strategies highlight the new year agenda for the nation's wealthiest." The top five issues from the snap poll include: * Rethinking Philanthropy "Philanthropy changed in 2006," said Patricia Bell, a Merrill Lynch wealth management advisor. "High-net-worth investors, who might have set up their own endowment, are today more likely to consider working with established philanthropies to make the best use of their funding. It is the wealth manager's role to rethink philanthropy for her clients and take the lead in asking and answering questions about charitable giving, generational wealth and new priorities." * New Markets/New Vehicles/New Guidance "There are markets available to today's high-net-worth investors that were unimaginable just a few years ago," said George J. Schietinger, director, Credit Suisse Private Banking. "From Korean power companies, to real estate in Montenegro, to emerging market equities, a globally diversified portfolio is a hot topic among the nation's high-net-worth investors. A wealth manager must guide clients through new markets and new investment vehicles - such as structured products and protected notes - with experienced and insightful new guidance." * Resetting the Fear/Greed Pendulum "In a strong market, investing can look easy," said Joseph W. Montgomery, managing director of investments, Wachovia Securities. "Record highs and a 16.7 percent gain in the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. in 2006 make it critical that wealth managers help clients focus on risk, as well as return, as the New Year unfolds." * Cultivating the Family Tree "Today's wealth manager has a seat at the family table," said Anthony DiValerio, senior vice president and financial advisor, Private Wealth Management, UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Financial Services Inc. "Increasingly, wealth managers are asked to actively participate in family discussions about issues such as long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. for aging parents, to help clients pass wealth to future generations and how to prepare a client for his or her active retirement." * Tax Trends "The AMT See vPro. problem is bad and getting worse," said Michael Sawyer, managing director - investments, Smith Barney. "The Alternative Minimum Tax is a growing problem, impacting more and more people, and highlighted by a phase-out of deductions. Potential new capital gains tax legislation and other federal and state tax issues make this an area of ongoing concern for the wealthy and their wealth managers." The poll was conducted among the Dow Jones Wealth Management Advisory Council in January 2007. Members were asked to identify the issues and trends most important to their clients in 2007. The next meeting of the Dow Jones Wealth Management Advisory Council will take place in March 2007. About the Dow Jones Wealth Management Advisory Council The Dow Jones Wealth Management Advisory Council is an industry group dedicated to promoting the practice of wealth management, facilitating industry discussion, driving innovation and representing the needs and concerns of the profession. The Council draws its members from the most successful practitioners in wealth management, as well as experts from leading research and consulting organizations, including academia. The Council is hosted by Dow Jones Newswires Dow Jones Newswires is the real-time financial news organization owned by Dow Jones. Founded in 1882, its primary competitors are Bloomberg L.P. and Reuters. The company reports more than 420,000 subscribers -- including brokers, traders, analysts and fund managers -- as of July . Information about the Council is available at www.djwmac.com. About Dow Jones & Company Dow Jones & Company (NYSE NYSE See: New York Stock Exchange : DJ; dowjones.com) is a leading provider of global business news and information services See Information Systems. . Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Licensing Services, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones is co-owner with Hearst of SmartMoney. Dow Jones provides news content to CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. and radio stations in the U.S. |
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