Peter and Mary Hall have always lived quite modestly, but they recently sold their business for $50 million. Unaccustomed to such wealth, they have limited knowledge about investments and are unsure how to proceed. Used to managing a business, rather than the proceeds of a large sale, they know they must protect their new-found wealth, invest it wisely and save on their taxes as well. The family is small, just Peter and Mary, both in their fifties, and their two children, in their early twenties.
The Hall family is secure in the knowledge all of their affairs are being managed through one team dedicated to their needs. In addition to helping them manage their finances, Northwood also advised the Halls as they built a family cottage, consulted with them on initiating family meetings and set up comprehensive insurance structures to protect their wealth in future years.
“We now feel secure that our money is being managed expertly and that we’re getting the right advice to help us to educate our children about the wealth they will inherit one day and how to be wise stewards of that legacy.”
*Names have been changed to ensure confidentiality
The Peterson family is the third (and fourth) generation of a wealthy family (net worth of $350 million) increasingly frustrated and overwhelmed by the growing complexities of their business activities and investment holdings, which were largely established by their grandparents. This large family, with four adult children living and working both in Canada and abroad, owns a number of different manufacturing businesses as well as multiple private equity investments. They don’t feel as if they are managing these complexities as effectively as they should, and they worry that important details are falling through the cracks
The Peterson family feels reassured that all of their affairs are being managed more effectively, both in terms of business structures, investments and complex family interrelationships.
“Now we have a much clearer overview of how our businesses contribute to our overall family wealth. We know that Northwood really understands all the complexities and we have confidence in their ability to manage all the details.”
*Names have been changed to ensure confidentiality
Sarah Tevalas is a senior partner with a major investment banking firm (net worth $12 million). Her husband Murray is a dentist with a thriving practice. Her job is her passion and she devotes herself to it fully. What little spare time she has she devotes to her husband and growing family of teenagers and to their sports passions of golf and skiing. What worries her is the lack of time she has to devote true attention to her financial affairs, investments, stock options, and taxation issues. Sarah and Murray came to Northwood looking for advice, and the kind of time and attention devoted to their affairs that their demanding jobs didn’t allow.
Sarah and Murray Tevalas can concentrate fully on their jobs and family, secure in the knowledge that Northwood is efficiently managing all the other aspects of their financial and family affairs. They have the confidence that they will be able to retire with the kind of income that will protect their family and allow them to pursue their personal passions.
“There are so many things to think about and decisions to sort out. But I don’t have enough time to devote to do it properly. I worry that I am leaving money on the table because I’m missing opportunities to maximize our net worth.”
*Names have been changed to ensure confidentiality
Peter and Mary Hall have always lived quite modestly, but they recently sold their business for $50 million. Unaccustomed to such wealth, they have limited knowledge about investments and are unsure how to proceed. Used to managing a business, rather than the proceeds of a large sale, they know they must protect their new-found wealth, invest it wisely and save on their taxes as well. The family is small, just Peter and Mary, both in their fifties, and their two children, in their early twenties.
*Names have been changed to ensure confidentiality
The Hall family is secure in the knowledge all of their affairs are being managed through one team dedicated to their needs. In addition to helping them manage their finances, Northwood also advised the Halls as they built a family cottage, consulted with them on initiating family meetings and set up comprehensive insurance structures to protect their wealth in future years.
“We now feel secure that our money is being managed expertly and that we’re getting the right advice to help us to educate our children about the wealth they will inherit one day and how to be wise stewards of that legacy.”
The Peterson family is the third generation of a wealthy family (net worth of $350 million) increasingly frustrated and overwhelmed by the growing complexities of their business activities and investment holdings, which were largely established by their grandparents. This large family, with four adult children living and working both in Canada and abroad, owns a number of different manufacturing businesses as well as multiple private equity investments. They don’t feel as if they understand or control these complexities effectively, and they worry that important details are falling through the cracks
The Peterson family feels reassured that all of their affairs are being managed more effectively, both in terms of business structures, investments and complex family interrelationships.
“Now we have a much clearer overview of how our businesses contribute to our overall family wealth. We know that Northwood really understands all the complexities and we have confidence in their ability to manage all the details.”
Sarah Tevalas is a senior partner with a major investment banking firm (net worth $12 million). Her husband Murray is a dentist with a thriving practice. Her job is her passion and she devotes herself to it fully. What little spare time she has she devotes to her husband and growing family of teenagers and to their sports passions of golf and skiing. What worries her is the lack of time she has to devote true attention to her financial affairs, investments, stock options, and taxation issues. Sarah and Murray came to Northwood looking for advice, and the kind of time and attention devoted to their affairs that their demanding jobs didn’t allow.
Sarah and Murray Tevalas can concentrate fully on their jobs and family, secure in the knowledge that Northwood is efficiently managing all the other aspects of their financial and family affairs. They have the confidence that they will be able to retire with the kind of income that will protect their family and allow them to pursue their personal passions.
“There are so many things to think about and decisions to sort out. But I don’t have enough time to devote to do it properly. I worry that I am leaving money on the table because I’m missing opportunities to maximize our net worth.”