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Financial Planning > UHNW Client Services > Family Office News

Not a Relaxed Time

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There are a lot of things converging all at once. My Web site is officially launched, my new office is under construction and will be ready soon, and my decision whether or not to change custodians is quickly approaching. Add to this the challenge of managing money under the current environment and a new team in Washington and there is a lot to do. Where do I begin?

The Site

I wrote a brief paper just after the election on what we might expect with an Obama administration. Then I sent an e-mail to everyone on my e-mail distribution list with some very broad areas to watch and also included a link to my Web site where they can download a PDF of the paper. In this way, I hope to drive traffic to my site.


I have also been toying with the idea of holding a seminar to discuss the current bear market and recession. With an all-Democratic line-up in Washington, I think people’s antennas are raised. I’m undecided as to whether I should do it this year or wait until January. Yesterday, I received a call from a company that sells lists. They are offering a list of people who are unhappy with their existing brokerage accounts. Imagine there are people who are unhappy with their brokerage account! I probably won’t buy it.

New Office

My new office will be ready to occupy by the end of November. It has 850 square feet and includes a receptionist area, an executive office, two smaller offices, a private bathroom, and a good sized kitchen. I plan to use one of the smaller offices as a work/file room. The other will be used as a conference room. In there, I plan to put a flat screen TV on the wall so I can plug in my laptop for presentations. After moving in, I’m thinking about having a “Welcome reception” with a few snacks and maybe a couple of musicians from the Baton Rouge Symphony. We’ll see.

Managing the Money

Historically speaking, stocks tend to rise before the recession ends. I’m looking for some research on whether growth or value stocks tend to lead out first. Any thoughts?

New Custodian

On the custodian issue, I just spoke with my current custodian to see if there was any possibility of waiving the onerous $1,200 quarterly fee because I am under $10 million in assets. The answer? Well, let’s just say my decision to leave will be easier to make. Hey, it’s a business decision, I understand that, but companies do grow. I’m actually looking forward to working with a custodian that will provide a more personal touch.

I look forward to your comments.


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