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Lessons of Successful Entrepreneurs; How Bobbi Brown Built Her Business; Investing in Women
Worth’s Greatest Hits; Your Portfolio in 2042; Tony Robbins Takes Aim at Wealth Management
Five Fantastic New SUVs; Warming to Spring Fashion; 25 Things You Can Do to Live Longer
W O R K \ F I N A N C E \ L I F E
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Lessons of Successful Entrepreneurs; How Bobbi Brown Built Her Business; Investing in Women
Worth’s Greatest Hits; Your Portfolio in 2042; Tony Robbins Takes Aimat Wealth Management
Five Fantastic New SUVs; Warming to Spring Fashion; 25 Things You Can Do to Live Longer
WO46_Cover_final_mk.indd 1 2/23/17 1:53 PM
FEATURED ADVISORSM. David Sherrill, CFA®, CMT, Managing Director, Wealth Management, Financial Advisor
Michael J. Belsky, Senior Vice President, Financial Advisor
Kamesh Nagarajan, Senior Vice President, Financial Advisor
Michael Pellman Rowland, CFP®, ADPA, Senior Vice President, Financial Advisor
David Cote, Vice President, Financial Advisor
PROFESSIONAL SERVICES PROVIDEDPlanning, investment advisory services, insurance products, money-management services, investment products
YEARS OF FINANCIAL SERVICES EXPERIENCEM. David, 32; Michael B., 35; Kamesh, 18; Michael R., 15; David C., 6
ASSETS UNDER MANAGEMENT$1+ billion (as of 12/31/16)
[email protected]@[email protected] [email protected] [email protected]
WEBSITE www.vectorgroupfinancial.com
THE VECTOR GROUP AT MORGAN STANLEY 1290 Avenue of the Americas, 12th Floor, New York, NY 10104 212.893.7515
L E A D I N G W E A L T H A D V I S O R | N E W Y O R K , N Y
I L L U S T R A T I O N B Y K E V I N S P R O U L S
Can impact investing more fully engage the next generation in the family’s financial planning?B Y T H E V E C T O R G R O U P AT M O R G A N S TA N L E Y
Left to right: Kamesh Nagarajan, Michael J. Belsky, M. David Sherrill, Michael Pellman Rowland, David Cote
Vector Group_WOR46.indd 160 2/14/17 10:45 AM
161WO R T H .CO M F E B R UA RY-A P R I L 2 0 1 7
THE VECTOR GROUP AT MORGAN STANLEY 1290 Avenue of the Americas, 12th Floor, New York, NY 10104 212.893.7515
ot enough parents are making it a priority to pass down to their chil-dren the knowledge and tools nec-essary to responsibly handle a significant inheritance. Often, they believe their children’s values have become distorted by the comforts and benefits that wealth provides when those same children are not given the proper guidance. Ulti-mately, these parents fear members of the next generation will squander their wealth rather than use it as a tool for positive change. The first step, then, is helping children ap-preciate the positive impact their inheritance can have.
This may be easier than it seems: According to a survey from Morgan Stanley’s Institute for Sustainable Invest-ing, 84 percent of millennials are inter-ested in investing sustainably. What’s more, the fulfillment that sustainable investments allows may well stimulate the younger generation’s interest in managing their inheritance and giving to the causes they care most about. Their excitement usually grows even
stronger when they realize these initiatives don’t hinder the performance in the portfo-lio, and may even enhance returns.
Children are more likely to be prepared to invest sustainably when parents have com-municated their values and expectations for the family nest egg and when these children also understand their parents’ motivations.
Likewise, parents are more likely to feel as-sured that their legacy will live on when their children and other beneficiaries learn to invest money and contribute to society via philanthropic giving.
Hosting regular family meetings provides a space where your closest loved ones can share both their expectations and concerns, as well as discuss issues and reach agree-ments together. Many families develop a family “mission statement” that outlines their family history, shared family values and common objectives. Children should be in-volved in these processes from an early age.
The good news is that the task of trans-ferring wealth from one generation to the next can be finessed. Parents may achieve the results they desire through a multigen-erational effort involving collaborative planning and open channels of communica-tion. As a business magnate, entrepreneur and philanthropist once said, “. . .With great wealth comes great responsibility. . .to give back to society and. . .to see that those
resources are put to work in the best possi-ble way”—The magnate was Bill Gates. And as Gates, a father of three, under-stood, the sooner you have the “money talk” with your children, the better off your legacy will be for both you and your children, and their future. l
The Vector Group at Morgan Stanley is a financial advisory team with the Wealth Management division of Morgan Stanley in New York City. The views expressed herein are those of the authors and may not necessarily reflect the views of Morgan Stanley Smith Barney LLC, Member SIPC (http://www.sipc.org). Morgan Stanley Financial Advisors engaged Worth to feature this article. They may only transact business in states where they are registered or excluded or exempted from registration (http://fa.morganstanley.com/thevectorgroup). Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where they are not registered or excluded or exempt from registration. The strategies and/or investments referenced may not be suitable for all investors. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S. CRC1679035 01/17
T H E V E C T O R G R O U P A T M O R G A N S T A N L E Y
INVESTORS MAY BENEFIT FROM A COMPREHENSIVE FINANCIAL PLAN AND A
RELATIONSHIP WITH EXPERIENCED FINANCIAL PROFESSIONALS WHO CARE
ABOUT, AND CAN HELP EXECUTE AND MONITOR, THIS PLAN. The Vector Group
was formed to provide sophisticated wealth-management advice to highly affluent
families. We have assembled a broad, multi-generational and experienced team
of financial professionals with extensive knowledge across a wide range of asset
classes and disciplines, with the goal of putting clients first. Our clients count on
us to go above and beyond their expectations to accommodate their needs—team
members are active participants in the financial lives of our clients. It is our job to
simplify our clients’ financial picture, tailoring our expertise and that of the firm to
produce highly personalized solutions. l
A B O U T U S
N The sooner you have the ‘money talk’ with your children, the better off your legacy will be.
Vector Group_WOR46.indd 161 2/14/17 10:45 AM
The Vector Group at Morgan Stanley is featured in Worth® 2017 Leading Wealth Advisors™, a special section in every edition of Worth® magazine. All persons and firms appearing in this section have completed questionnaires, have been vetted by an advisory group following submission by Worth®, and thereafter paid the standard fees to Worth® to be featured in this section. The information contained herein is for informational purposes, and although the list of advisors presented in this section is drawn from sources believed to be reliable and independently reviewed, the accuracy or completeness of this information is not guaranteed. No person or firm listed in this section should be construed as an endorsement by Worth®, and Worth® will not be responsible for the performance, acts or omissions of any such advisor. It should not be assumed that the past performance of any advisors featured in this special section will equal or be an indicator of future performance. Worth®, a publication of the Worth Group LLC, is a financial publisher and does not recommend or endorse investment, legal or tax advisors, investment strategies or particular investments. Those seeking specific investment advice should consider a qualified and licensed investment professional. Worth® is a registered trademark of the Worth Group LLC.
M. David Sherrill, CFA®, CMTManaging Director, Wealth Management, Financial Advisor
Michael J. BelskySenior Vice President, Financial Advisor
Kamesh NagarajanSenior Vice President, Financial Advisor
Michael Pellman Rowland, CFP®, ADPA Senior Vice President, Financial Advisor
David CoteVice President, Financial Advisor
The Vector Group at Morgan Stanley1290 Avenue of the Americas, 12th Floor
New York, NY 10104Tel. 212.893.7515
[email protected]@morganstanley.com
[email protected]@morganstanley.com
R E P R I N T E D F R O M
®
T H E E V O L U T I O N O F F I N A N C I A L I N T E L L I G E N C E
