Within wealth management, family meetings have emerged as a valuable tool for generational wealth transfer. Through our family office, we’ve seen a growing number of clients harness the power of family meetings to prepare their next generation for the responsibilities and opportunities that lie ahead. Here's how and why these gatherings are transforming the wealth management landscape. Before we begin, let’s...
For many family offices, Excel has been the go-to tool for creating consolidated reports due to its customization, accessibility, and cost-effectiveness. However, as the complexity of investment portfolios grows, family offices often encounter challenges related to data integrity, analytics, and scalability. Excel's limitations become apparent when dealing with large datasets or non-traditional assets like real estate, private equity, art,...
Markdale Financial Management is our family office dedicated to managing the financial affairs of wealthy investors. One of our key roles of our family office is to coordinate the work of investment and insurance, legal, and accounting professionals when it comes to estate planning. In this blog post, we’ll explore how our family office serves as the quarterback and personal CFO...
Let’s say you’ve decided to stop wasting time trying to “beat the market”. You’ve learned over time that simply using a passive indexing strategy will outperform most of the time. So, now that you don’t have to waste anytime pick stocks, how else can you improve your financial life? If investors can't benefit from active management, what other financial tasks should...
This post provides a step-by-step guide that you can use to implement your own impact measurement process. By the end of this post, you’ll have a template you can use to either implement your own impact measurement framework or use our team to implement one for you. There are three steps we’ll need to take to implement our impact measurement process. We’ll...
As a wealthy investor, you’re likely paying several different professional advisors to help you successfully undertake your wealth management process. Being able to objectively evaluate the cost of the services you’re being provided with is critical to ensuring you’re getting the best out of your team in a sustainable way for everyone involved. This post outlines the type of professionals you may...
Our family office provides management & administrative services to private foundations. Over the years, we’ve realized many private foundations take certain responsibilities for granted. So, when an “unexpected” event occurs (like a CRA audit, death of a board member, change of tax rules) these private foundations scramble to adjust. The result is stress to the family and potentially financial losses...
Your financial legacy will be mostly measured by how successful your heirs steward your wealth, after you’re gone. That’s why you should work diligently during your lifetime to prepare them for success. This post describes three ways to codify your legacy to better prepare the next generation for the responsibility of wealth management.
When working class entrepreneurs become wealthy, they bring a perspective about wealth much different from those who inherit it. Wealthy inheritors face unique challenges that require distinct approaches to wealth management. This post describes 5 challenges wealthy inheritors face and how to overcome them: Financial AwarenessLifestyle ManagementStewardshipSelf EsteemTrust in Relationships
Managing a holding company (“holdco”) successfully includes keeping accurate records and performing administrative tasks. Missing some details might mean your holdco fails to comply with tax laws. But also, failure to administer your holdco properly could mean you waste time in the future cleaning up messes or wasting time searching for information. This post describes how to manage a holding...
