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This version was saved 10 years, 9 months ago View current version     Page history
Saved by Gene Lipitz
on June 14, 2013 at 12:33:16 pm
 

 

 

Welcome to the teaching collaboration on Investor Rights and Obligations

 

FIRST THINGS FIRST: Click "Join Workspace" at the top of this screen. This will give you access to participate in our collaboration.

 


News from Other Organizations:

A wonderful initiative around fiduciary leadership:

The Leadership Bootcamp for Investment Stewards

 

Here is an article in Forbes about this initiative:

Only Leadership Can Restore Trust on Wall Street

 

 

An animation created in collaboration with my daughter to introduce investors to the problem...

 

Click the button below to see and contribute to the project.

 

Home: Rights and Obligations

 

This is an open collaboration for investors to share the tools they use to find advisers they can trust. It will be a place for Vision Statements, Investment Policies, RFPs for different service providers, White Papers on Best Practices, and most immediately usable, due diligence questions grouped by category and type of adviser. 

 

Getting Started

At this stage we have developed a draft set of rights and obligations of sophisticated investors and family offices(yes, eight total). We are looking for participants to comment and help develop these and to suggest meta-questions and generally goods lines of inquiry for each kind of right or obligation. Any contribution, including existing RFPs, DDQs, Vision Statements, Needs Assessments or other tools that you currently use and think others would benefit from are also very welcome.

 

Look for the "Edit" link on the top right of the page to make suggested edits. Don't worry about messing it up, old versions are retained. You can also feel free to use the comment box below. This is a collaboration for investors that will be served by the project so useless remarks will of course be removed. Bankers and brokers need not enter!

 

Click the button below to see and contribute to the project.

 

Here is the heart of the project:

Home: Rights and Obligations

 

 

 

 

A NOTE FROM OUR NEWEST Senior Editor, Matt Erskine:

 

Thank you Gene for inviting me to contribute to 8x8 

 

I have uploaded several files and I thought that I would explain my reasons for doing so.  This is part of an ongoing discussion Gene and I started at the Family Office Metrics event in New York this spring.  Here is a really quick summary of that discussion: 

 

A. Institutional "family offices" goals are 1) to make a profit from other people's wealth , 2) to attract more and wealthier clients and 3) to retain existing clients.  These conflict with the goals of families to 1) maintain long term control of family wealth, 2) to have access to expertise and experience on their own terms and 3) to provide security to the Family without placing the family wealth at risk. 

 

B. The conflicts of interests are the spur to developing an independent Family Office as an organization

 

C.  For the Family to succeed, the family and the family office need to 1) learn from their own and others past mistakes, 2) anticipate future risks and opportunities and 3) adapt to unforeseeable and surprising risk and opportunities. 

 

D.  Learning from the past is, in part, embodied in processes and procedures.

 

E.  Anticipation of the future is, in part, embodied in wealth, financial and strategic planning,

 

F. Adaptability is, in part, embodied by Scenario Planning,

 

In this context, I see the Bill of Rights as a tool to learn from past mistakes - the touchstone upon which investment procedures and processes should be tested against.  My contribution to this discussion is to give some additional background on the history of investment planning and a tool to describe processes in a basic, graphic way. History is based on my Investment Planning Handbook Investment Planning.doc This is a long document, but is meant as a reference tool,  The other is a summary of Business Process Management Notation (BPMN) BPMN HandsOn Modeling one page per shape core set.doc that gives a common frame of reference for describing a process or procedure.

 

The result is that the investment planning process can be laid out as a single graphic flow chart Investment BPMN flowchart.pdfand the elements of the Bill of Rights can be inserted or referenced.

 

I hope this is helpful, and will move this cooperative effort forward

 

Matt. Erskine

 

 

The original work that forms the basis of this site was uploaded on October 8th, 2012 and is Copyright 2012 by Gene Lipitz. It can not be used in whole or in part without the express permission of Gene Lipitz.

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