BBH’s Tom Poppey and Rob Lees look at the changes that asset managers should prioritize and how they can use the race to T+1 to gain an edge.

Investing in private markets is an important component of many client portfolios. We provide advice on how to construct a prudently sized private markets portfolio with adequate diversification.

Senior Wealth Planner Kerri Mast discusses developments regarding the extent to which trusts are protected from creditors in the event of divorce.

CW&W Executive Director Adrienne Penta and BBH Relationship Manager Beth Milkovits explore the complexity of teaching the value of digital currency in a time where we increasingly store and spend money online and in the cloud.

Alison Hutchinson and Melineh Ounanian outline some ideas for how trust beneficiaries can learn more about their roles and responsibilities.

BBH presents its 2023 Private Business Owner Survey, which was conducted to see how owners are addressing current economic conditions, future succession planning, and family communication dynamics. Read the results.

Adrienne Penta, the executive director of the BBH Center for Women & Wealth, and Alison Hutchinson, a senior wealth planner, focus on the topic of families, wealth and communication, discussing the guiding principles that we believe help families create life-affirming, enduring, effective wealth plans.

Managing Director Brett Sovine discusses section 6166 of the Internal Revenue Code, which in certain situations permits the executor of an estate to defer federal estate tax on a closely held business following an owner’s death.

The tax benefits for investing in or founding certain startup businesses can be incredible. Not all investors or founders can take advantage of these benefits, but for those who can, millions of dollars of tax can be saved – and with proper planning, potentially even more.

We review the reasons that we prefer and recommend concentrated and actively managed investment strategies.

We discuss upstream gifting, an increasingly popular estate planning technique that involves making gifts up the family tree, rather than downstream.

BBH’s Denise Mak and David Weibe explain how the transfer agent, as a natural extension of the asset manager’s operating model, can facilitate an investor experience that is key to enabling growth.

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

In this issue of Women & Wealth Magazine, we feature a group of inspiring women business owners and leaders to watch in 2023 and look at the next generation of women business owners, estate planning for blended families, and time affluence.

In this issue’s feature article, we highlight an inspiring group of women business owners and leaders and share their insights as they anticipate the opportunities and challenges of 2023.

BBH Wealth Planner Michael Shapiro provides a primer on estate planning for blended families and considerations for couples who are remarrying to create blended families.

BBH Senior Wealth Planner Ross Bruch explores “time affluence” – a term that refers to the idea that, like money, time can be saved, spent, and wasted. He addresses wealth’s impact on time affluence, how to cultivate it, and how to avoid “time poverty,” which can lead to a lack of mindfulness and cognitive overload.

In “Five Questions,” we speak with Christina Pardy, founder of Sh*t That I Knit, about what led her to start the company, what it takes to be competitive in the sustainable clothing space, and how she navigates challenges.

Travis Dunn provides an overview of family business advisory boards and discusses their benefits, composition, and steps for getting started.

Alison Hutchinson and Melineh Ounanian discuss the fundamentals an individual must follow in order to be a good trustee when the trust owns business interests.

We discuss tax planning for the terminally ill or elderly, covering the basic necessities and more advanced techniques around death-bed tax planning.

BBH Wealth Planner Peter Moshang discusses the permanent extension of the IRA charitable rollover, focusing on the benefits it provides philanthropic individuals in their charitable gift planning.

Co-Chief Investment Officer Suzanne Brenner covers steps we take when rebalancing our clients’ portfolios.

Ricky Ellis, Head of BBH FX Sales EMEA, assesses the impact of U.S. T+1 on the FX market and key considerations for asset managers.

BBH Senior Advisor Ellen Perry discusses the complexities surrounding a liquidity event and covers ways to make the transition more successful.

Co-Chief Investment Officer Justin Reed discusses market timing. He explores its allure and pitfalls, stressing our belief that the adoption of a value-oriented, bottom-up investment approach, along with a long-term investment horizon and prudent rebalancing plan, is a far more compelling investment strategy.

The impacts of shortened settlement cycles in the U.S. are critical to asset managers and banks globally. What can you do now to prepare for the change?

Drew Lichter, vice president of corporate strategy and development at Mobius Risk Group, discusses the advantages of using financial instruments and market strategies to hedge against commodity price risk.

Patience is a hallmark of our investment process. Read on for a refresher on delayed delivery bonds, their mechanics and how we evaluate them.

Co-Portfolio Managers, Andrew Hofer, Neil Hohmann and Paul Kunz provide an analysis of the investment environment and most recent quarter-end results of the Taxable Fixed Income Strategy.

Portfolio Managers, Andrew Hofer, Neil Hohmann, and Paul Kunz, provide an analysis of the investment environment and most recent quarter-end results of the BBH Core Plus Fixed Income strategy.

Co-Portfolio Managers, James Evans, CFA, and Jorge Aseff, Ph D, provide the most recent quarter-end results of the Inflation-Indexed Fixed Income Strategy.

Portfolio Managers, Andrew Hofer, Neil Hohmann, and Paul Kunz, provide an analysis of the investment environment and most recent quarter-end results of the BBH Multisector Fixed Income strategy.

Portfolio Managers, Andrew Hofer, Neil Hohmann, and Paul Kunz, provide an analysis of the investment environment and most recent quarter-end results of the BBH Limited Duration Fixed Income strategy.

Portfolio Manager, Gregory Steier, provides an analysis of the investment environment and most recent quarter-end results of the Municipal Fixed Income strategy.

Portfolio Managers, Neil Hohmann, Chris Ling, and Andrew Hofer provide an analysis of the investment environment and most recent quarter-end results of the Structured Fixed Income strategy.

Portfolio Managers, James Evans & Jorge Aseff, provide an analysis of the investment environment and most recent quarter-end results of the Inflation-Indexed Fixed Income strategy.

In light of recent headlines, John Secor and Ajit George of our Corporate Advisory team look at cash management options for private business owners.

In this issue of Owner to Owner, we speak with the CEO of Red River Foods about owning the supply chain, assess pathways to joining (or not joining) the family business, and look at research on how wealth might influence happiness.

Michael Conti, Neriah Ray-Saunders, and Christine Hourihan provide an overview of the business environment on three fronts: the overall economy, the credit markets, and the private equity and mergers and acquisitions markets.

In the feature article of this issue of Owner to Owner, we speak with Dan Phipps, CEO of Red River Foods, about how the company has approached global expansion, what it takes to ensure the highest-quality products, and where he feels the most excitement in the food industry.

We sit down with Adriano Barilla of Barilla Pasta and Brandon Farmer of CSC Sugar for a look at the process of joining (or not joining) the family business through the lens of the next generation.

BBH Senior Wealth Planner Ross Bruch shares insights gleaned from research on how money – and in particular, wealth – might influence happiness.

The goal of the European Long-Term Investment Fund to provide much needed funding for small and mid-cap private companies has not been met yet, but a redesign could change that, write Holly Gardner and Adrian Whelan

Starting a transformation program can be daunting, but with the right formula organizations can deliver real business value.

Prenups are often portrayed in a negative light, but when approached the right way, they can be a practical way to make things a lot easier down the road, if a relationship doesn’t work out. Here’s what to know.

You’ve decided to join together in holy matrimony, but does that include joining your finances? BBH’s Next Gen newsletter The Fresh Take takes a closer look.

In our spring Next Gen Spotlight, Caroline Flores sits down with Allie Doppelt of Michael Doppelt Diamond Company to talk about leaving a corporate job to join the family business, and why buying a diamond is more like building a long-term relationship than just purchasing jewelry.

As the world watches the U.S. market plan for a T+1 cycle for securities settlement, other countries are assessing similar moves. BBH is working with clients to help them optimize their global operating models and support their readiness for this major industry shift.

Adrienne Penta, the executive director of the Center for Women & Wealth, explores 10 important strategies for raising children to be responsible stewards of wealth. It is never too late to start!

John Secor, Ajit George, Kyle Gordon, and Carson Christus of our Corporate Advisory team outline five options for family business owners that are committed to formalizing a dividend policy.

Travis Dunn provides an overview of family business governance, including its definition and purpose, benefits, resource commitment, and steps to begin implementation.

BBH Managing Director Lewis Hart shares a three-pronged strategy for effectively managing your business’s liquidity during times of volatility and uncertainty.

For asset managers, ensuring that their distribution, the experience they give to their clients, and their product diversification are fit for operating in a new environment is critical. At the inaugural BBH Insights Exchange event, industry experts discussed challenges that firms may face and how they can adapt.

Our Female Finance Firsts feature showcases the achievements of women who were pioneers in the finance and business fields.

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Managing Director Brett Sovine discusses an appealing retirement savings option for working next generation members: the Roth IRA.

Co-Chief Investment Officer Suzanne Brenner explores how the various aspects of our asset allocation, portfolio construction, risk management, and manager selection processes work together to create value for clients.

In 2023’s first FX quarterly, strategists examine the Fed’s pivot and China’s reopening. Here is a synopsis of what is included in this quarter’s outlook.

In this issue of InvestorView, we discuss our outlook for the markets and economy in 2023, explore how to guide trustees to ensure that trust distributions are rooted in purpose, and look at how to manage cognitive bias.

In the feature article of this issue of InvestorView, BBH Chief Investment Strategist Scott Clemons covers our outlook for the markets and economy in 2023. He considers the state of play as we embark on the 23rd year of this century and discusses what we’re watching as the year progresses.

Adrienne Penta, executive director of the BBH Center for Women & Wealth, and Nicole Jackson Leslie, senior wealth planner, explore how a donor can guide a trustee, even after a trust has been created, to help ensure the trust is used to support and perpetuate a family’s core values for generations to come.

BBH Senior Wealth Planner Ross Bruch looks at investment-related biases and offers solutions to help recognize and minimize their negative effects.

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Municipal bonds have never been renowned for their liquidity, even in normal market environments. But these liquidity challenges also help provide opportunities, especially during periods of heightened volatility.

BBH’s global securities lending team shares its demand predictions

BBH Private Banking Chief Investment Officer Suzanne Brenner and Deputy Chief Investment Officer Justin Reed review the markets and provide an update on our current portfolio positioning and priorities.

BBH Senior Wealth Planners Ali Hutchinson and Stacia Kroetz outline the importance of having a flexible estate plan. The future is unknowable, but centering your plan on your values and communicating regularly with your fiduciary and your family will set your family on the path to success.

Senior Wealth Planner Ali Hutchinson breaks down several estate planning techniques for individuals who have maxed out their available gift tax exemptions, as well as techniques that can be used to enhance gifts that have already been made and trusts that are already in place.

Many have questions about the financial and tax ramifications of the decision to get married. We discuss the potential benefits and drawbacks to a legal marriage from that perspective.

Do you want to be more philanthropic but have no idea where to begin? Getting started with philanthropy can be daunting at first, but adding structure to your approach can help you feel less overwhelmed and allow you to create a roadmap.

In our winter Next Gen Spotlight, Mackenzie Dowling sits down with Christina Pardy, founder and CEO of Sh*t That I Knit, to talk about turning your side hustle into a full-time job and giving back to others all at the same time.

Private Client Associate Mary Burton is part of our Next Generation Experience team in Charlotte, North Carolina. Here, she discusses her experience in making philanthropy part of her life and shares insights from other BBHers about how they do the same.

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Ellen Perry, Ali Hutchinson and Laura Salibello lay out five questions to ask during the holidays to spark discussion around the dinner table and provide tips for how to approach these conversations.

We review why a charitable mission is important and provide guidance on how to approach crafting a mission statement that enables you to take philanthropy beyond just “being charitable” or “giving back.”

We discuss the ways in which the worlds of investing and philanthropy are becoming more integrated and the importance of cross-generational conversations around this topic. Article written by Kaitlin Barbour.

We outline key year-end opportunities as it relates to gifting, income tax planning, retirement planning, and planning in a high interest rate environment, as well as provide a year-end checklist based on your goals.

We sit down with Jeff Schoenfeld to discuss his experiences as a BBH Partner, why seeking out LGBTQ-knowledgeable investment advisors and wealth planners may be useful for LGBTQ individuals, some of the financial and wealth planning obstacles that remain for LGBTQ individuals, and more.

In this issue of Owner to Owner, we speak with the team behind Peay Vineyards, share a strategy for managing your business’s liquidity during times of uncertainty, and look at fostering resilience in the workplace.

Michael Conti, Neriah Ray-Saunders, and Christine Hourihan provide an overview of the economy, credit markets, and private equity and mergers and acquisitions markets.

In the feature article of this issue of Owner to Owner, we sit down with the team behind Peay Vineyards – Vanessa Wong, Nick Peay, and Andy Peay – to discuss what drove their interest in wine, how they approach winegrowing and winemaking, and how they differentiate themselves in a competitive industry.

BBH Senior Wealth Planner Ross Bruch explores the two ways businesses and other organizations can create a resilient staff: growing resilience within an organization’s existing workforce and hiring candidates that demonstrate resilient character traits.

The future of financial services is a story of two races: a race to automate for scale and resiliency, and a race to attract the best human capital. Winning strategies recognize that success needs both.

Head of Philanthropic Advisory Kerri Mast examines four reasons why people give to charity other than tax benefits – which research has shown are typically not the primary driver of charitable giving.

What’s needed before a region with 41 trading exchanges and 31 settlement infrastructures can consider a shorter settlement cycle?

Taxable municipal bonds offer an excellent way to diversify broader taxable portfolios through high-quality, durable credits that frequently offer higher yields than comparably rated corporate debt.

Relationship Manager Laura Salibello discusses how breaking down a pay statement into six simple steps can help parents explain taxes to their children.

Senior Wealth Planner Ross Bruch examines the role buy-sell agreements can play in helping family businesses plan for intrafamily succession.

BBH Private Banking Chief Investment Officer Suzanne Brenner and Deputy Chief Investment Officer Justin Reed review the markets and provide an update on our current portfolio positioning and priorities.

We discuss factors that come into play when investing for endowments and foundations.

In this issue of Women & Wealth Magazine, we explore how to develop leaders in family businesses, examine how to make hybrid work successful for everyone and look at how we can foster motivation in those we love.

Adrienne Penta, executive director of the Center for Women & Wealth, and Ben Persofsky, executive director of the Center for Family Business, share insights gleaned from recent BBH research on how family businesses can be inclusive in developing future leaders.

Brigid Schulte, best-selling author and director at the Better Life Lab at New America, shares a data-driven toolkit for managers and leaders as we all navigate an uncharted new era of work.

Senior Wealth Planner Ross Bruch discusses the many different types of motivation and what role “flow” plays in keeping us interested and engaged in life.

In “Five Questions,” we speak with Meghan Juday, chairman of IDEAL Industries, about leading the board as a fourth-generation family member, how she hopes to help other women succeed in similar roles and what she sees as the most important leadership quality.

As an outlier in a world of rising interest rates, and as investment behaviour evolves, Japan offers a growing opportunity to Western asset managers eyeing the ¥2,023 trillion* household savings market. BBH’s Japan team shares how they can best access that opportunity.

As the world watches the U.S. market plan for a T+1 cycle for securities settlement, others are assessing similar moves. BBH sets out the main process areas in the securities trade lifecycle that will be impacted by shorter settlement cycles and what you need to do now to prepare.

Wealth Planner Peter Moshang covers considerations for those looking to help family members buy a home.

BBH Relationship Manager Laura Salibello and Associate Maddy Pellow provide financial tips for making the transition out of college more manageable.

As our Next Gen clients think about their future, they often ask about the importance of earning a distinction beyond their undergrad degree with a CFA, CFP, or MBA. So how do you know which path is right for you? We sat down with two BBHers to discuss the qualifications they pursued after college and how each affected their career.

The U.K. Financial Conduct Authority (FCA) has opened a public consultation which seeks to reshape the rules around marketing of Long-Term Asset Funds (LTAFs) to allow access to a wider group of retail investors and pension schemes.

Our Currency Strategy experts offer their predictions for currency performances for both Major and Emerging Markets.

High food and energy prices continue to squeeze households globally. Aggressive monetary policy responses and shrinking real incomes have increased global recession risks. Indeed, more and more signs of recession are piling up.

Our Currency Strategists set out what the geopolitical and macro-economic landscape means for major and emerging markets in the third quarter

For much of the first half of this year, high interest rates and rising commodity prices helped these currencies outperform their emerging market peers. However, broad-based dollar strength has slowly but surely eaten away at those EM FX gains and this is likely to continue as the Fed remains on its aggressive tightening path.

Portfolio Manager, Nicholas Haffenreffer, discusses how the U.S. Large Cap Equity portfolio companies performed over the most recent month-end.

Selecting a private wealth manager requires one to answer a multitude of questions before making a final decision. In this commentary, Jacob Turner discusses the 10 most critical considerations high-net-worth individuals must make when hiring a private wealth manager.

Senior Wealth Planner Kerri Mast discusses qualitative matters related to business succession, focusing on the importance of family values.

In this issue of Owner to Owner, we look at considerations when transferring private business shares to the next generation, discuss what business owners should be thinking about in this inflationary economy, examine QSBS elections and provide an overview of industrial revenue bonds.

We provide an overview of the economy, credit markets, and private equity and mergers and acquisitions markets.

Ali Hutchinson, a BBH senior wealth planner, and Ben Persofsky, the executive director of the BBH Center for Family Business, discuss the different methods for transferring shares in a private business to the next generation and cover the implications families need to consider from both a corporate and tax angle.

John Secor and Ajit George of our Corporate Advisory team look at challenges business owners are facing in this inflationary economy and discuss how they can navigate this uncertainty.

Justin Capozzi and John Wert of our Corporate Advisory & Banking team discuss industrial revenue bonds, a creative tool in the marketplace available to U.S. manufacturing companies for domestic capital expenditures.