Our Views

Today’s Globe & Mail High Net Worth section featured Newport Private Wealth in a piece by journalist Paul Brent entitled Don’t let your money spoil the kids. It deals with the issues, desires, opportunities and complications of wealthy baby boomers assisting their offspring ... Keep Reading "Passing wealth on now, later, ever?" >

At the end of November we held our launch event for NextWave, Newport Private Wealth’s initiative for young adults to help them become better equipped at managing wealth. We had a tremendous turnout with over 40 young adults in attendance for an evening of networking and a brief introduction to ... Keep Reading "Engaging the next generation" >

‘Catalyst funding’ is a notion commonly associated with business, health care and even the not-for-profit sector. It describes investments that are made to accelerate the development of an innovation or strategy. The theory being that with such funding, desired outcomes can be achieved faster ... Keep Reading "Catalyst funding… for families?" >

Wealthy baby boomers are retiring and the ‘Great Transfer’ of wealth is well underway. Yet, according to the 2012 U.S. Trust Insights on Wealth and Worth Survey, more than two-thirds of parents believe their children are not adequately prepared to handle wealth. This is not surprising because ... Keep Reading "Filling the knowledge gap for the young affluent" >

Wealth management is a tag line used by many financial advisors to describe their services. It’s a familiar term but what does it actually mean and, more importantly, what should it mean? Wikipedia says “at the most general level, economists may define wealth as anything of value which captures ... Keep Reading "Wealth management is more than just financial" >

Last week, John Heinzl of the Globe and Mail wrote a good piece on The Difference Between Advisors and Counsellors. He did a nice job of spelling out the key aspects of what it means to work with a professional investment counsellor versus a commissioned salesperson. Keep Reading "Choosing an investment professional" >

It seems the U.S. federal government is turning up the heat on offshore US citizens who aren’t part of the U.S. tax system – and they’re getting more focused on finding them.  This potentially has implications for U.S. citizens living in Canada. In an announcement earlier this year, the U.S. ... Keep Reading "IRS targeting U.S. citizens living ‘offshore’" >

Many wealthy parents wonder how their children will manage an inheritance. We spend years preparing our children to be independent;  it’s no wonder many wealthy parents are concerned about how money may taint their children’s drive or motivation. Our clients vary widely in their ... Keep Reading "Preview Trust – A perfect Christmas gift from wealthy parents" >

I was given a lottery ticket as birthday gift at a dinner with friends on the weekend. The condition was that we would all share the pot. It was great value to dream for even a few hours of how life could change with $41 million. Sudden wealth via the lottery, inheritance or selling a... Keep Reading "Winning the lottery – a dream for all; a nightmare for some" >