Everyday we hear incredible Cinderella stories of people who came from nothing and suddenly come into wealth either through fame or fortune. But what happens when they don't know how to manage this sudden wealth?
An article in The Week recounted Sly Stone's hard fall from fame to poverty. During the height of his career in the early '70s as lead singer for Sly and the Family Stone, he lived in a 5,432 square-foot mansion in Beverly Hills. Now he reportedly resides in a white van parked on a street in Los Angeles's gritty Crenshaw neighborhood. One of the two contributing factors to his unfortunate turn of events was attributed to financial mismanagement.
From sports stars to rock stars, from lottery winners to recipients of substantial litigation settlements, many face the same financial challenges that come with sudden wealth. Selection of financial managers can be challenging and some of the pitfalls during the due diligence process can be avoided by carefully considering the following criteria:
Quality of the firm
Investment philosophy
Commitment to safeguarding and growing assets
Performance record
Dedication to client service
This story illustrates the importance of selecting a dedicated team of financial experts to secure your financial future.
Logo-inspired twin arch bridge over Bull Run, Manassas, VA
Twinbridge Financial Consulting introduces high net worth clients to pre-screened financial managers who are dedicated to growing and protecting assets. Clients are guided through the challenging yet educational process of interviewing and selecting their new portfolio management team. Once the manager is selected, Twinbridge maintains an important relationship as the client's financial advocate by supervising the relationship, tracking performance and attending portfolio review meetings. Generally there is no fee for these services.
This email is not a complete analysis of every material fact representing opinion, industry or security mentioned herein. The information has been obtained by sources believed to be reliable but is not necessarily complete and is not guaranteed. This email is prepared for general information only and does not have regard to the specific investment objectives, financial situation or particular needs of any person who may receive it. Views are subject to change without notice.
TWINBRIDGE Financial Consulting | 976 Ivycroft Rd.,Wayne, PA 19087
