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What to Consider Before Establishing a Private Family Foundation

Written by Bloom Investment Counsel, Inc. on April 22, 2024. Posted in Philanthropy. No Comments on What to Consider Before Establishing a Private Family Foundation

There are many ways you might have ended up with wealth in excess of your needs. Maybe you have experienced a liquidity event such as an inheritance or sale of a family business, or you have retired with more savings than you need to support your desired retirement lifestyle.

However you have come to this excess wealth, you may want to set up a philanthropic program to donate some of your excess savings to charity. One of the ways to do that is to establish a private family foundation.

3 Factors Wealthy Investors Consider Before Investing

Written by Bloom Investment Counsel, Inc. on April 15, 2024. Posted in Investing. No Comments on 3 Factors Wealthy Investors Consider Before Investing

Wealthy investors are known for their strategic approach to investing, considering various factors before making investment decisions. Three key aspects that often influence their investment choices include risk tolerance, portfolio diversification, and goal-based investing.

The Importance of Family Meetings for Legacy Planning

Written by Bloom Investment Counsel, Inc. on April 15, 2024. Posted in Estate Planning. No Comments on The Importance of Family Meetings for Legacy Planning

Family meetings play a crucial role in planning your legacy, ensuring that all your family members are on the same page when it comes to preserving and passing on wealth, values, and assets. These meetings provide a platform for open communication, fostering understanding and unity among your family members.

By discussing legacy planning in a family meeting setting, everyone has the opportunity to address any potential conflicts or misunderstandings that may arise in the future. This proactive approach helps to clarify your intentions and ensure that everyone’s wishes are considered.

Bloom Investment Counsel, Inc. Q1/24 Investment Market Commentary

Written by Bloom Investment Counsel, Inc. on April 9, 2024. Posted in Investment Market Commentary. No Comments on Bloom Investment Counsel, Inc. Q1/24 Investment Market Commentary

M. Paul Bloom, Market Commentary Video Q1 2024

Despite the investment markets in the first quarter of the year experiencing a bumpy start, our clients’ performance was very satisfactory. The fixed-income market was particularly affected due to renewed inflation concerns, which caused negative rates of return in all bond maturities. However, these concerns had only a marginal effect on the equity market.

When is a Single-Family Office Beneficial?

Written by Bloom Investment Counsel, Inc. on April 8, 2024. Posted in Wealth Planning. No Comments on When is a Single-Family Office Beneficial?

Ultra-high-net-worth (UHNW) families typically consider establishing their own Single-Family Office (SFO) when they have total investable assets of $100 million or more. Consideration for an SFO is most often driven by a significant liquidity event such as the sale of a family business.

It may be as simple as having a dedicated wealth professional who acts as the intermediary with all of the family’s other service providers, or as complex as employing a team of dedicated professionals for all of the family’s wealth management needs including accountants, lawyers, investment managers, legacy planners, philanthropic experts, etc..