Philanthropic Investing

I like the idea of shielding them from the wealth. It's a different way of advising because you're advising a board rather than individual and their own wealth. And all you can do as an advisor is point out the advantages and disadvantages of different costs of action and the risks associated with each. So it ends on the individual and what they think. You never know where it's going to go. Some people are not interested, but you'll be surprised when you actually ask the question where it goes. I've got one particular situation where the parent is not willing to part with any of their cash until they die. That's an interesting day. We look after about 12 to 15 different philanthrop