IF YOU ARE SO FORTUNATE AS TO HAVE OVER $20 MILLION, YOU know you have achieved a great success. Congratulations! Only 70,000 Americans have done this well. Hopefully, you also recognize that you have new kinds of problems. If you’re uncomfortable or not fully satisfied with mutual funds—though you probably should be satisfied—how do you find investment advisors and investment managers who are right for you? How much do you pass on to your children and grandchildren—how and when? How much do you commit to philanthropy—how and when?

If you have a much larger fortune—over $100 million—you should consider organizing an investment committee or having a personal expert to advise you on all aspects of investing. If ...

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