An educational publication · encyclopedia · data desk · directory
The financial encyclopedia for substantial wealth.
How families from $25 million to $1 billion+ invest, plan, give, govern and endure. Every subject is explained at three depths, for family members and for the professionals who serve them.
Education, never advice. No accounts, no minimums, open to every reader.
The Wealth Ladder
Complexity, not net worth, drives structure. It tends to arrive in a recognizable order. Illustrative frameworks, never plans.
The disciplines
Eighteen sections in one library, covering every discipline that substantial wealth touches.
Wealth
Managing Wealth
How complexity changes as wealth grows: the disciplines, and the wealth ladder from $10 million to $1 billion and beyond.
Invest
Investing
Allocation, risk, governance: how substantial portfolios are designed and overseen.
Invest
Public Markets
Equities, bonds, funds, and the institutional techniques: from direct indexing to collars and exchange funds.
Invest
Private Markets
Private equity, venture, credit, secondaries, and the fund mechanics behind every commitment.
Invest
Real Estate
Direct ownership, funds, exchanges, land: property as both portfolio and operating business.
Invest
Lifestyle Assets
Art, aircraft, yachts, wine, cars: passion assets owned with eyes open.
Plan
Tax
Coordination, gains, residency, reporting: the largest controllable cost, explained structurally.
Plan
Estate Planning
Transfer taxes, documents, succession: deciding who gets what, when, and how.
Plan
Trusts
From revocable basics to GRATs, dynasty trusts, and situs: the machinery of transfer and protection.
Plan
Philanthropy
DAFs, foundations, split-interest trusts, and the craft of giving well.
Plan
Insurance
Umbrella to PPLI: risk transfer for lives, homes, collections, and boards.
Plan
Risk Management
Cyber, physical, fraud, concentration, leverage: the whole-balance-sheet view of risk.
Plan
Banking & Credit
Private banking, custody, and lending against everything from portfolios to paintings.
Family
Family Office
The organizational answer to complexity: what offices do, cost, and when families build one.
Family
Family Governance
Constitutions, councils, meetings, decision rights: how families decide together.
Family
Next Generation
Raising capable inheritors: education, conversations, prenups, readiness.
Family
Global Wealth
Cross-border families, reporting regimes, residency programs, and global banking.
Family
Professionals
Building and evaluating the advisory bench, plus a directory of real organizations serving substantial wealth.
Essential reading
The pillar entries editors keep pointing back to.
Banking & Credit
Private Banking
Private banking is a bundled suite of financial services, lending, deposit management, custody, and often investment management…
7 min read
Banking & Credit
Securities-Based Lending
Securities-based lending allows families to borrow against the market value of an investment portfolio without selling the…
8 min read
Estate Planning
Estate Planning: The Landscape
Estate planning is the process of deciding who receives your assets, when and how they receive them, under what conditions and…
8 min read
Estate Planning
Estate and Gift Taxes
Estate and gift taxes are federal transfer taxes imposed when wealth passes from one person to another, either during life (gift…
7 min read
Estate Planning
Business Succession Planning
Business succession planning addresses how a family-owned or closely held company transitions ownership and leadership to the…
8 min read
Family Office
Family Offices, Explained
A family office is a private organization (ranging from a small coordinating team to a full institutional staff) that manages the…
7 min read
Global Wealth
Global Wealth
Global wealth refers to family wealth that spans multiple countries, whether through cross-border investments, real estate in…
8 min read
Family Governance
Family Governance
Family governance is the set of structures, processes, and shared agreements that allow a family with substantial wealth to make…
8 min read
Insurance
Insurance for Substantial Wealth
Insurance for substantial wealth is the deliberate transfer of financial risk to a carrier or specialty market, structured as…
8 min read
Insurance
Umbrella and Excess Liability
Umbrella and excess liability insurance sits above a family's existing home, auto, and other underlying policies, providing an…
8 min readThe tape, quietly
Delayed reference data: context for the library, not a trading screen. Full dashboard →
Equity Indices
| S&P 500 | 7,618.6 | 0.51% | |
| Nasdaq Composite | 25,622 | 0.73% | |
| Dow Jones Industrial | 52,153 | 0.74% | |
| Euro Stoxx 50 | 6,152.2 | 0.41% | |
| Nikkei 225 (Japan) | 63,082 | -0.33% | |
| ASX 200 (Australia) | 8,856.5 | -0.58% |
U.S. Treasury Curve
| U.S. Treasury 10-Year | 4.98% | -0.0700pp | |
| U.S. Treasury 2-Year | 4.61% | -0.0600pp | |
| U.S. Treasury 30-Year | 5.32% | -0.0500pp | |
| U.S. Treasury 5-Year | 4.78% | -0.0700pp |
Data deskAutomated summaries of the day's market data
EUR/USD edges up 0.25% to 1.1193 on November 02 Markets · 07:40 UTC USD/CHF eases 0.31% to 0.8224 on November 02 Markets · 07:40 UTC Brent crude slips 2.58% to $110.18/bbl on November 02 Markets · 07:40 UTC WTI crude falls 3.29% to $100.69/bbl on November 02 Markets · 07:40 UTC Qualcomm drops 11.12% to $164.79 on November 02 Markets · 07:40 UTCQuotes delayed 15–20+ minutes. Sources: Financial Modeling Prep; yields via FRED (official series). Bond changes are percentage points (pp).
From the wires
Real journalism from mainstream outlets. We always link to the original. All news →
Estate & Tax
Voters usually decide one or two income or wealth tax measures a year. This midterm season, there are nine ↗
Fortune · Nov/01 13:00 UTC
Estate & Tax
Celebrity Estates: Dolly Parton and Estate Planning Without Children ↗
WealthManagement.com · Oct/30 16:38 UTC
Family Offices
Family offices likely to add risk, debt and alternatives under the next generation ↗
CNBC · Oct/23 13:16 UTC
Global Wealth
The Domicile-Residency Conundrum ↗
WealthManagement.com · Oct/22 19:26 UTC
Luxury & Collecting
Mark Zuckerberg’s $170 million Miami mansion is just one piece of his sprawling real estate empire that includes a 196-year-old castle ↗
Fortune · Oct/31 15:07 UTC
Luxury & Collecting
From Karl Marx’s vampire to Warren Buffett’s moat, the crumbling gothic castle has been capitalism’s favorite metaphor for 250 years ↗
Fortune · Oct/31 11:30 UTC
Philanthropy
Anthropic CEO Dario Amodei charts a new direction for tech philanthropy ↗
CNBC · Oct/29 13:44 UTC
Philanthropy
Investing in Trump Accounts—A New Form of Philanthropy? ↗
WealthManagement.com · Oct/28 15:49 UTC
Mechanics you can touch
Six illustrative calculators: private-fund fees and J-curves, spending policies, estate-tax mechanics, concentrated positions, liquidity ladders and giving vehicles. Hypothetical inputs, honest assumptions, never advice.
Open the calculatorsFrom the glossary
Loss CarryforwardAn unused tax loss from one year that tax rules allow a taxpayer to apply against gains…
Trust ProtectorA person or entity appointed in a trust document with defined powers to oversee, modify…
Cost BasisCost basis is the original purchase price of an asset, adjusted for certain events, used…
Basis Point bpOne one-hundredth of one percentage point, commonly written as "bp" or "bps," used in…
Grantor Retained Annuity Trust GRATAn irrevocable trust in which the grantor receives fixed annuity payments for a set term…
Concentrated PositionA concentrated position is a single investment, typically one stock or private holding…
Full glossary →