Manager Guidelines
Every separate account manager should manage the family's portfolio according to written guidelines. For example, what are acceptable policies for holding cash in the portfolio? Are there minimum and maximum capitalization weightings that are acceptable to the family? How actively will taxes be managed? These and many other issues should be specifically addressed in the guidelines for each manager. The companion website (www.wiley.com/go/stewardshipofwealth) includes a sample manager guideline.
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