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“As a fourth-generation heir of E. A. Stuart, founder of the Carnation Company, Stuart Lucas knows first-hand the privileges, challenges, and responsibilities of wealth. His family’s approach is a backdrop to this book: a peek through the window that you rarely experience. This gives Wealth unusual credibility. The author is practicing day-to-day–with real dollars–the lessons he prescribes.”
—JOE MANSUETO, Founder, Chairman, and CEO, Morningstar, Inc.
“There just are not very many people like Stuart…. He wears his wisdom lightly and is a joy to have in the mix. I have enjoyed working with and learned a lot from Stuart. I think you will, too.”
—G. GARVIN BROWN IV, EVP and Chairman, Board of Directors, Brown-Forman Corp.
The Definitive Guide to Strategic Wealth Management: Completely Updated for Today’s Realities–Financial and Personal
- Help your descendants flourish and sustain family wealth across generations
- For everyone who has inherited wealth, created wealth, or aspires to wealth
This remarkable guide brings together all the tools, principles, frameworks, and pragmatic advice you need to manage wealth effectively: for years, for decades, for generations. Drawing on his remarkable life experience as both heir and investor, Stuart Lucas offers a complete, up-to-date, and actionable framework for sustaining, growing, productively using, and enjoying family wealth.
Lucas helps you take charge of your family’s investment process; hold advisors accountable; control spending; and plan taxes, estates, and philanthropy. But this plain-spoken book covers far more than money. Drawing on his work with hundreds of wealthy individuals, Lucas helps you build a flourishing family culture: one that inspires your descendants to remain productive, useful, and fulfilled.
Stuart Lucas’s Wealth has proven itself as the world’s most valuable guide to wealth management for individuals, families, business owners, and the “upwardly affluent.” Now, Lucas has extensively revised Wealth to fully reflect the recent dramatic changes in the financial world in order to help even more people protect and grow their wealth.
Singularly well positioned to write this book, Lucas is an heir to the Carnation Company fortune and is Chairman and Chief Investment Officer of Wealth Strategist Partners. As designer and leader of the University of Chicago’s Private Wealth Management program, he has taught more than 500 members of the world’s wealthiest families how to manage their family enterprises through challenging times.
Wealth highlights the key drivers that help family enterprises substantially improve the odds of success. Lucas offers up-to-date, sage advice on integrating business and family, taking charge of your investment process, and evaluating “expert” advice with confidence and appropriate skepticism. In plain language, he explains how the interplay of spending, tax, estate planning, philanthropy, and investing can help you achieve a prudent mix of growth and spending for your lifetime, even multiple generations.
Recognizing the crucial importance of developing family “human capital,” this new edition of Wealth includes robust and actionable guidance for building a culture that encourages each family member to flourish, while reinforcing shared family values.
Develop an investment strategy to accomplish your objectives
Maximize the odds of achieving financial security and growth after fees and taxes
Navigate the treacherous waters of the wealth management industry
“Buyer beware” and beyond: what wealthy people must know to get what they need
Master all eight key principles of strategic wealth management
Take charge now–and start developing tomorrow’s family leaders
Manage wealth holistically, focusing on your entire family enterprise
Relationships, values, legacies: it’s about human capital, not money
Build a virtuous circle of family wealth
Leverage success and stability to overcome conflict and strengthen your family system