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Avoid costly mistakes with generation-skipping and dynasty trusts
The piece cautions ultra‑high‑net‑worth families about common pitfalls when employing generation‑skipping and dynasty trusts, noting potential tax inefficiencies and governance challenges. It stresses the need for meticulous planning to safeguard multi‑generational wealth.
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This is a bingo. The problem with conventional "bucketing" strategies is that they're not actually ALM/LDI strategies in the first place. They're a generalized cash bucket with a Total Return strategy (like 60/40) as the dominant part of the portfolio. A true LDI strategy starts with the liability side of the balance sheet and maps out matching assets across the entire liability curve based on personalized needs. The goal of ALM is to eliminate sequence risk across the curve while Total Return strategies turn the entire curve into one time horizon that doesn't match personalized needs.