For ultra-high-net-worth families, choosing a financial advisor is rarely just about investment performance. Families are often balancing complex priorities: preserving wealth across generations, minimizing taxes, coordinating estate plans, supporting charitable goals, and ensuring financial decisions align with family values. Before selecting an advisor, affluent families tend to ask deeper questions to make sure they are…
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What’s Matt Reading? (April 2026)
This month, we investigate the realistic pace of technological advancement, explore the strategic benefits of international stock diversification, and explain why complexity is often an investor’s worst enemy.
1Q 2026 Market Overview
The first quarter saw a 9% drawdown in U.S. stocks driven by the U.S. conflict with Iran. This marks the 32nd drawdown of 5+% for U.S. stocks since March 2009 (which averages out to roughly two drawdowns per year over the past 17 years). As we like to remind clients, volatility like we’ve experienced recently is the “price of admission” for owning stocks and should be expected with regularity.
What’s Matt Reading? (March 2026)
This month, we explore the limits of historical market data, glean wisdom from a 108-year-old Wall Street veteran, and discuss why the pioneer of the ‘Yale Model’ recommends passive index funds for everyday investors.
What’s Matt Reading? (Feb 2026)
This month, we consider the optimal amount of inheritance to leave your children, the critical importance of manager selection in private markets, and how financial journalists can lead investors astray.
2025 Annual Letter
“The ultimate form of preparation is not planning for a specific scenario, but a mindset that can handle uncertainty.” – James Clear “Your family is broken but you’re going to fix the world.” – Naval Ravikant The Ceiling The main challenge of 2025 wasn’t markets, unique client situations, or asset growth. It was a founder…
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