The Stewardship of Wealth: Successful Private Wealth Management for Investors and Their Advisors, + Website

Conclusion: We Need All The Value-Add We Can Get

Given all the headwinds they face (see Chapter 4), families need to exploit every opportunity to add value to their portfolios. While the value we can add will sometimes be modest, every basis point counts. Paying attention to portfolio transitions, manager selection, tactical repositioning, investment opportunities outside the core allocation, and monitoring and rebalancing of the portfolio will help keep the capital growing net of costs, taxes and inflation.