Summit Notebook
Exclusive outtakes from industry leaders
from Blogs Dashboard:
Wealth education: one pretention too much?
The ultra wealthy have finally found something that is too pretentious.
English-style horseback riding lessons? Fine. Summers split between five different country houses? Also fine.
But, how about enforced wealth education for the next generation? As in, teaching the kids how different types of investments actually work and how to enjoy the family fortune without instantly frittering it away? Now that smacks of pretension, especially for the kids, who are used to spending the 'rents riches without having to think too hard about the dirty green stuff itself.
“Wealth education for my kids? Well that seems pretty pretentious,” said Wells Fargo Family Wealth managing director of family dynamics Keith Whitaker, describing the feelings of some of his ultra-rich clients at the Reuters Global Wealth Management Summit in Boston.
“There’s still that inner feeling ‘Am I doing something that’s pretentious? Is this somehow elitist of me?’”
from Funds Hub:
The morgue after Christmas
He said at the Reuters Restructuring Summit in London that by the end of the year banks will issue "in patient", "out patient" or "morgue" judgements as they go about the business to decide who gets much needed loans and who does not.
