Wealth management news covering private banking, family offices, financial advisors, high-net-worth services, and asset allocation trends.
Wellington Management will acquire Hartford Funds from The Hartford, integrating it into its U.S. Wealth business under the Wellington brand. The deal's net present value is estimated at $1.9 billion. Wellington already sub-advises 83% of Hartford Funds' $160 billion in assets.
This commentary argues that many married couples are unprepared for the financial consequences of a spouse's death, highlighting common pitfalls like frozen accounts and surprise taxes. It summarizes Schwab's six strategies for protecting a surviving spouse, emphasizing the need for proactive estate planning and document organization.
This commentary reports on a retreat for wealthy young heirs, arguing that such programs help them develop a sense of purpose and responsibility toward their inheritances. It suggests that structured guidance is necessary to prevent the dissipation of family wealth across generations.
This commentary argues that a generational divide over AI adoption is emerging within family offices, with younger members pushing for AI integration while older principals prioritize data privacy. It contends that this tension, compounded by poor communication during wealth transfers, threatens the effective management of ultra-wealthy families' assets.