The Taxable Investor's Manifesto

CHAPTER FOURTEENSelect an Advisor with Strong Investment Skills, an Interdisciplinary Approach, and a Fiduciary Mindset

This manifesto describes an interconnected and interactive tool kit to add value to taxable wealth. At a high level, these techniques apply to every taxable investor. To optimize the tool kit's value, you should seek to adapt and apply those techniques to suit your particular financial circumstances and long-term goals.

Taxable investing is complicated, but it doesn't have to be hard. Great value can be created through integration of long-term, equity-oriented investing, customized tax management, and thoughtful estate planning. Each on its own has the potential to add value. However, as you've read throughout this book, you've seen the potential for real magic to happen at the intersections of these three disciplines. The positive asymmetry of equity returns becomes the dominant feature of your portfolio, the magnitude of returns grows as the effects of tax-deferred compounding kick in, and you can apply cash flow management, tax management, and estate planning techniques that grow and protect your asset base with a high probability of success. Through effective governance and communication, you can reinforce these disciplines with a flourishing family culture – one with intentionally articulated purpose – potentially far into the future.

Sadly, such synchronicity too frequently is the exception in the world of wealth advising. Far too often these disciplines ...