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Rich families across the globe are concerned about how to prepare their children to manage their wealth, but few are doing anything about it. According to a survey by JPMorgan, 69% of ultra-wealthy families cite succession planning as a top priority. That said, she attributed some of the reluctance to many of these family offices being formed within the past 10 or even five years. "Conversations about wealth can be challenging and, in our experience, families often have found it difficult to get started," she told Business Insider. Only 15% of family offices with at least $1 billion in assets kept heirs unaware compared with 27% for firms with $50 million to $500 million.
Persons: Rich, Elisa Shevlin Rizzo, Goldman Sachs, Ackah, Edward Jones Organizations: JPMorgan, Business, Forbes, UBS
ANANSI’S GOLD: The Man Who Looted the West, Outfoxed Washington, and Swindled the World, by Yepoka YeeboStop me if you’ve heard this one: A stranger needs to retrieve money stuck in a bank. And to meet this and other administrative costs necessary to unlocking this fortune, would you kindly help him with a little investment? This is known as the advance fee fraud, or “419.”These days, the scams generally target the elderly and the net-illiterate. “They saw Blay-Miezah, in his chief’s finery, spinning a tale about darkest Africa, untold wealth and a corrupt leader,” Yeebo writes. “And because the story — and the man — fit their preconceptions like a dovetail joint, they made up the rest of the story for themselves.”
Persons: Yepoka, you’ve, John Ackah Blay, Henry Kissinger, , ” Yeebo, Locations: Outfoxed Washington, Ghana
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