Discover the best ways to build, protect, and sustain family and business wealth across generations! "Wealth" is the world's most valuable guide to wealth management for individuals, families, business owners, and the "upwardly affluent." In the six years since Stuart Lucas first wrote this book, however, the financial world has changed dramatically. Throughout the financial crisis and beyond, Lucas has led the University of Chicago's Private Wealth Management program, teaching more than 500 members of the world's wealthiest families. Now, he brings together extraordinary insights and constructs informed by this experience. "Wealth, Updated and Revised Edition" retains its core advice, which has been tested and proven by the worst financial crisis since the Great Depression. However, Lucas has updated his exclusive Strategic Wealth Management Framework to help even more individuals, families, and entrepreneurs aspiring to wealth or seeking to protect it. Lucas highlights key value drivers - family purpose, the economic engine, and leakage management - that mark the difference between family enterprises that succeed for generations and those that fail. He offers updated, sage advice on making financial decisions, evaluating "expert" advice, running a family business office, tax/estate planning, philanthropy, wealth preservation, and more. Since developing a family's human capital is the best antidote to Wall Street excess, this edition adds even more robust and actionable guidance for building a culture of Entrepreneurial Stewardship: one that enables and encourages all family members to flourish, and improves the odds that families can sustain wealth. "This book is for all successful business owners and anyone who possesses (or aspires to own) substantial financial assets, whether earned or inherited. It will also be of keen interest to investment advisors, business consultants, business brokers, wealth industry practitioners, lawyers, accountants, tax advisors, and others who counsel the wealthy (and upwardly affluent) about wealth management." "As a fourth-generation heir of E. A. Stuart, founder of the Carnation Company, Stuart Lucas knows first-hand the privileges, challenges, and responsibilities of wealth. His family's approach is a backdrop to this book: a peek through the window that you rarely experience. This gives "Wealth" unusual credibility. The author is practicing day-to-day--with real dollars--the lessons he prescribes." --JOE MANSUETO, Founder, Chairman, and CEO, Morningstar, Inc. "There just are not very many people like Stuart.... He wears his wisdom lightly and is a joy to have in the mix. I have enjoyed working with and learned a lot from Stuart. I think you will, too." --G. GARVIN BROWN IV, EVP and Chairman, Board of Directors, Brown-Forman Corp. The Definitive Guide to Strategic Wealth Management: Completely Updated for Today's Realities--Financial and Personal Help your descendants flourish and sustain family wealth across generations For everyone who has inherited wealth, created wealth, or aspires to wealth This remarkable guide brings together all the tools, principles, frameworks, and pragmatic advice you need to manage wealth effectively: for years, for decades, for generations. Drawing on his remarkable life experience as both heir and investor, Stuart Lucas offers a complete, up-to-date, and actionable framework for sustaining, growing, productively using, and enjoying family wealth. Lucas helps you take charge of your family's investment process; hold advisors accountable; control spending; and plan taxes, estates, and philanthropy. But this plain-spoken book covers far more than money. Drawing on his work with hundreds of wealthy individuals, Lucas helps you build a flourishing family culture: one that inspires your descendants to remain productive, useful, and fulfilled. Stuart Lucas's "Wealth" has proven itself as the world's most valuable guide to wealth management for individuals, families, business owners, and the "upwardly affluent." Now, Lucas has extensively revised "Wealth" to fully reflect the recent dramatic changes in the financial world in order to help even more people protect and grow their wealth. Singularly well positioned to write this book, Lucas is an heir to the Carnation Company fortune and is Chairman and Chief Investment Officer of Wealth Strategist Partners. As designer and leader of the University of Chicago's Private Wealth Management program, he has taught more than 500 members of the world's wealthiest families how to manage their family enterprises through challenging times. "Wealth" highlights the key drivers that help family enterprises substantially improve the odds of success. Lucas offers up-to-date, sage advice on integrating business and family, taking charge of your investment process, and evaluating "expert" advice with confidence and appropriate skepticism. In plain language, he explains how the interplay of spending, tax, est