Wealth Management from CCH Distills Insights of Leading Practitioner

Financial planners, accountants, lawyers, brokers, bank trust officers and portfolio managers can all benefit from this new title.

According to author Kochis, wealth management clients themselves can also benefit. "No matter how much clients may respect a wealth manager’s skills and are prepared to follow the wealth manager’s lead, at some level, all clients want to know why a course of action makes sense. This book will go a long way to bring clients up to speed," Kochis writes in the preface. Further, students in the hundreds of financial planning academic programs around the country will find this book an essential addition to their library.

The approach of Wealth Management is comprehensive, dealing with both financial planning and investment management as an integrated whole.

Kochis begins with an insightful discussion of setting goals for wealth management, stressing the need for measurable goals based on consumption, time constraints and client priorities. He also analyzes the cash flow needs of wealthy individuals and suggests realistic cash management programs for immediate needs, emergency liquidity and an investment reservoir.

Income tax planning receives detailed treatment, from the basics of general income taxation as they apply to wealthy individuals to specialized topics such as the alternative minimum tax, installment sales, like-kind exchanges, income-shifting and the use of Code Sec. 83(b) elections.

Much of Wealth Management is devoted to investment planning, from the setting of objectives to asset allocation, basic and advanced vehicles and portfolio techniques, selecting an investment manager, debt management and alternative investments, with an emphasis on the use of hedge funds.

Additional in-depth treatment is accorded to retirement planning, risk management, estate planning and special planning situations, such as divorce, business succession planning and employee stock options.

Charts, checklists and examples abound in this clearly written guide that distills the experience of one of the field’s foremost practitioners into practical, action-oriented insights and plans.

S. Timothy Kochis, J.D., M.B.A., CFP. is the Chief Executive Officer and Principal of Kochis Fitz, a wealth management firm located in San Francisco and Menlo Park, Calif. Kochis is a former National Director of Personal Financial Planning for both Deloitte & Touche and Bank of America. He currently serves as the Chairman-elect of the Board of Governors of the Foundation for Financial Planning and on the Board of Directors of the Financial Planning Standards Board. Kochis is a Past-President of the Certified Financial Planner Board of Standards and Past-Chairman of its Board of Examiners. He was responsible for supervising the creation of the examination now used throughout the profession to qualify CFP candidates. He has been included in Worth Magazine's list of the country's Best Financial Advisers each year since the list was initially published in 1994. He is a member of the Advisory Board of the CCH Financial and Estate Planning reporter and is a sought-after speaker for financial and investment forums throughout the world.

-- ### --

nb-03-76