Anyone of TV-watching age in the 1980s remembers the commercial for clothing giant Syms, featuring CEO Sy Syms himself. “An educated consumer,” he said, “is our best customer.” Those words, which sounded revolutionary and enlightened at the time, are today considered the way of the world. The internet has largely leveled the playing field with regard to the access of information, and as a result most people want (and view as their right) to be fully informed about the services and products they invest in. On the flip side, providers recognize that educating their clients leads to smoother transactions and more satisfaction all the way around. This includes complex matters that used to be considered above the heads of laypersons, such as medical procedures and finances.  Recently we discussed the growing trend of principals taking greater control of their…

Historically, people who achieved a certain level of success have turned to financial advisors to manage every aspect of their estate  – including investments, philanthropic efforts, and succession planning. In recent years, however, shifting attitudes about wealth coupled with the availability of data has led many principals to become more interested in, and empowered about, handling their own affairs in understanding what is private wealth management. Instead of engaging a financial as a matter of course, they may take the time to weigh the various factors before making a decision. One of the obvious cons is the expense. Comprehensive services are typically reserved for those of high net worth (defined as 1.5 million dollars in total net worth or seven-hundred and fifty-thousand dollars in disposable assets). Another consideration is the goals they have set for their family moving forward.…