In “The 7 Biggest Threats Facing High Net Worth Families Today” (Worth Magazine, 7 January 2020), K2 Intelligence highlights the top ways high-net-worth families can mitigate risks, including:
- Don’t put trust on autopilot: Ensure consistent due diligence by screening those hired to work in a family’s inner circle on a regular basis, not just at the beginning of their tenure. An individual’s profile can change over time, and should be monitored on a timely basis.
- Invest in avoidance: Before conducting any high-stakes collectible transaction, whether it has to do with art, wine, or vehicles, go beyond the collectible itself. Cover all bases and investigate the dealer involved with the sale, looking into whether there have been any fraud lawsuits or if the seller has experienced financial distress. These could be warning signs for potential fraud.
Read the full article in Worth Magazine.
