What Wealth Managers Stand to Gain From Referencing an Appraiser/Art Specialist?
Wealth managers too often ignore the collections and personal passions of their clients. HNW and UHNW individuals keep 10 %-20% of their wealth in tangible personal assets. Not including real estate, these tangible personal assets are rarely utilized by wealth managers. They stand to gain an income stream for their clients, and possibly a closer appreciating of their client’s taste or vision for future generations.
A 5 second conversation with a veteran appraiser will highlight the importance of the phrase “or cash equivalent” to all estate planners and wealth managers. Without that simple phrase included n the estate documents, the division of assets and property will likely be complicated and interceded by legal overseers.
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