Challenge
A long-term client, a doctor, and his wife, hired us more than 25 years ago to manage their investments using our equity discipline. The couple had accumulated more money than they could ever spend. Their main concern was how to talk to their three adult sons, also our clients, about inheriting substantial wealth.
SOLUTION
Aurora worked with the mom and dad to determine how much and when to bequeath assets to their children. We also created a Donor Advised Fund, in which the parents and children formed an investment committee. We meet with the committee each quarter to review philanthropic spending allocations and fund performance.
RESULTS
The children, well-read, successful in family and business, are now also financially literate. Educating the children on spending policy and investment performance has helped them understand the principals for building their own wealth. What’s more, the family has learned that they can work together to use money as a tool for societal good, not just for themselves.
Every client has a unique story. Your plan and results may differ.