Author: Sandeep N Setty

Having worked with multiple family offices, asset managers, professional law firms, and auditors, I’ve come to appreciate the incredible work they do in identifying risks and potential causes of loss for families, businesses, and individuals (F.B.I). Once these risks are identified, there are three key strategies to manage them: Every lawyer, auditor, and family office advisor uses a combination of these three methods to effectively manage the estate and wealth of F.B.I. If you believe this information could be useful for you or someone you know, please share this article.

Succession planning is a cornerstone of sustainable family businesses, ensuring leadership continuity, preserving core values, and securing the company’s future across generations. While often overlooked, a well-structured succession plan mitigates uncertainties, strengthens family unity, and fosters business resilience. Assessing the Readiness of the Next Generation One of the key challenges in succession planning is evaluating whether the next generation is prepared to take on leadership roles. Studies indicate that nearly a quarter of failed transitions result from an unprepared successor. What Readiness Looks Like Readiness encompasses industry knowledge, leadership abilities, and emotional maturity. External work experience outside the family business…

We often talk about business, gold, property, and bonds as assets—but when was the last time you considered your family as an asset? In reality, if the family system isn’t in order, all other assets start to lose value. I remember a prospect who frequently expressed eagerness to meet me at social gatherings, yet he never followed through with our scheduled meetings. I suggested we catch up when he felt ready, and for several months, there was no further contact. Recently, his wife reached out to me. With a heavy heart, she shared that they had lost most of their…

You may have come across the term “endowment plan” and wondered how it fits into your financial strategy. Endowment plans offer a blend of benefits that can play a significant role in your overall wealth management. Here are four key advantages of incorporating an endowment plan into your financial journey: ✅ Dual Benefit: Insurance Coverage Endowment plans serve a dual purpose. They’re not just an investment vehicle—they also provide life insurance. If the policyholder passes away during the term of the policy, the sum assured is paid out to the beneficiary. This feature ensures that your loved ones receive financial…

One of the biggest challenges in running a family-owned business is ensuring its smooth transition to the next generation. Many business owners assume that a single successor will take over their role seamlessly. But let’s be honest—your successor may not be as hardworking or as driven as you. Why You Need Three Successors, Not One When planning succession, I always advise my clients: Identify three potential successors. Groom all three, then choose one. Why three? Because leadership in a business isn’t just about replacing one person with another—it’s about dividing responsibilities. Think about it: No single person can do it all. Even…

Partnerships are often destined for success, but not all can withstand life’s toughest challenges. So, what exactly is partnership insurance, and who needs it? Many businesses thrive because of the symbiotic bond between partners. Protecting the value of that bond is essential for continued success. However, not everyone realizes how to safeguard this value in the event of a crisis—such as the death of a partner or a significant loss of income due to illness. What Is Partnership Insurance? Partnership insurance is designed to protect the interests of all parties involved by providing the company with sufficient liquidity. This liquidity…

Recent research suggests that smoking impacts morbidity (health complications and quality of life) more than mortality (lifespan). This shift in understanding explains why many insurance products now offer similar premiums for both smokers and non-smokers. Traditionally, life insurance premiums were higher for smokers due to the assumption of reduced life expectancy. However, if smoking primarily affects health rather than longevity, insurers may now focus more on health-related costs rather than death risk. Why Are Smoker and Non-Smoker Premiums the Same? Insurance companies have recognized an interesting pattern: ✅Only 20% of smokers continue smoking after 12 months of taking a policy.✅ 20% of non-smokers start smoking after getting…

In the world of wealth management, one strategy that stands out for high-net-worth families and successful business owners is the barbell strategy. This approach may sound complex, but at its core, it’s all about balancing risk and reward by dividing your investments between two extremes. What Is the Barbell Strategy? The barbell strategy involves concentrating your portfolio at two ends: By focusing on both ends of the risk spectrum, you protect your portfolio from downside risk while still capturing opportunities for substantial gains. Why It Suits High-Net-Worth Families and Business Owners For those managing significant wealth, the barbell strategy offers…

We often hear that food, clothing, and shelter are the basic necessities of life. But have you ever considered what truly determines the quality of these essentials? It all comes down to one thing: INCOME. Think about it—🔹Your income determines the kind of food you eat.🔹 Your income influences the clothes you wear.🔹 Your income decides the home you live in. Ultimately, your lifestyle is shaped by your income. Now, there are only two ways income is generated:1️⃣ You Work – Your active effort provides for these necessities.2️⃣ I Work – If something happens to you, I step in to take over. But here’s the reality—there…

When we talk about financial planning, it’s easy to think of it as a simple product you can purchase. But for successful business owners, high net worth families, and those who demand a comprehensive approach, financial planning is so much more—it’s a dynamic, evolving strategy tailored to your unique goals. More Than a Set of Products Many people assume that financial planning is just about choosing the right investments, insurance, or savings accounts. However, true financial planning goes beyond any single product. It’s about understanding your business vision, family legacy, and long-term aspirations—whether that’s ensuring smooth business succession, managing complex…