Striking a Balance between Investment and Philanthropy
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Speaker Presentation by David Werdiger at the Private Wealth Management APAC Summit in November 2015
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Striking a Balance between Investment and Philanthropy
- 1. Striking a Balance between Investment and Philanthropy David Werdiger Private Wealth Management APAC Summit November 2015
- 2. Overview • WWW – Wealth, Worry & Why • Entrepreneurship & Entrepreneurial risk • Intergenerational Issues & Legacy • How to Search for Balance • Sample Implementation
- 3. Our relationship with wealth • What does it do for us? • What are our attitudes to it? • What are its limitations? • Can’t take it with us • Can it make us happy? • How much is enough?
- 4. Impact of wealth Wealth Happiness Value of $1 Appetite for Risk
- 5. Entrepreneurial risk in families • Need for returns – how much is enough? • Part of family culture? • Excitement? Thrill of the ride?
- 6. My family
- 7. Exceed Organic Growth? 0 20 40 60 80 100 120 1976 1981 1986 1991 1996 2001 2006 2011 7% CAGR family members
- 8. Entrepreneurial risk in families • Use for strategic asset allocation • The need for challenge & drive • ‘Relationship’ risk
- 9. Legacy • How to create/maintain one? • Understand generational differences • Challenge & strength at the same time
- 10. Generations 101 • Different external influences • Different internal values • Things will not be the same! 1920 1940 1960 1980 2000 2020 Foundation Baby Boomers Gen X Gen Y Millenials
- 11. Not Freud • Patronizing Patriarchs? • Barriers for generational transfer • How to overcome? • Problem recognition • Fear? Matriarchs?
- 12. Methodology for Balance • Examine the extremes • It’s all about the shades of grey
- 13. Examine the extremes For Profit Not for Profit Revenues & Profit Expenses Taking Giving Happiness Meaning Hedonism Altriusm
- 14. Ways to find balance • Mix of financial returns & philanthropy • Maintaining drive – for what? • Mix of active & passive • Best of both worlds? • Social entrepreneurship • Impact & ethical investing
- 15. My balance • Second generation family member • Tech entrepreneur • Not-for-profit and community activist • Advisor, writer, speaker
- 17. ‘Three Streams’ • Entrepreneur • Create and then set free • Like having children? • Not for profit • Board & committee • Provide more than $$ • Personal exertion • Advisor, mentor • Writer, thinker, speaker
- 18. A wide perspective ... Family membe r Adviso r / Mentor Philanthr opist Entrepre neur
- 19. How to create a legacy • Connect generations • What are the family’s culture & values? • Attitudes to wealth • What values are ‘enduring’? • Transmitting through stories • We can’t bring up children ‘in our image’ • Change is inevitable, so we must embrace it
- 20. What not to do • Flaunt wealth • Hide wealth • Make assumptions • Use money to ‘fix’ problems
- 21. Conclusion • Go both directions along the generation axis • The greatest gift a parent can give: independence & options • Finding bridges to connect generations • The power of entrepreneurship • ‘Meaning’ trumps ‘happiness’
- 22. Thank you!
- 23. For more information about the marcus evans investments summit series: investmentseries@marcusevanscy.com