Wealthy investors and family offices shied away from stocks leading up to market swings this week, but many saw the drop in prices as an opportunity for tax savings and estate planning, according to wealth advisors.
When stocks tumbled Monday, with the S&P 500 and Nasdaq down 3%, wealthy investors neither panicked nor jumped in to buy, according to several advisors.
The drop in prices last Friday and Monday also offered a chance for wealthy investors to take advantage of tax benefits and gift strategies.
With the gift and estate exemption amount scheduled to expire at the end of next year, many wealthy investors are working to give away the maximum before the expiration.
“Most family offices are so invested in alternatives, hedge funds, PE and real estate, that they aren’t moving their investments around anyway,” said Geoffrey von Kuhn, an advisor to several of the nation’s largest family offices.
Persons:
‘, ’ ”, Sean Apgar, ” Apgar, BBR, —, William Sinclair, ” Sinclair, ”, Jennifer Povlitz, Geoffrey von Kuhn, Richard Weintraub, ” Weintraub, Buffett, Michael Pelzar, ” Pelzar, “, Jimmy Chang
Organizations:
UBS, Deloitte, Nasdaq, BBR Partners, Morgan Private Bank, Big Tech, “, UBS Wealth Management, Americas, Citi Private Bank, Bank of America Private Bank, ” Advisors, Rockefeller Global Family
Locations:
U.S, J.P