Wealth

Living with wealth, managing its complexities, investing it for the long run, using it to advance worthy causes, and perpetuating his family’s legacy are all topics Stuart E. Lucas knows a great deal about. For over 30 years, he’s lived a double life, both as a member of one of America’s wealthy families and as a senior executive in prestigious wealth management and investment firms. Lucas is a fourth-generation heir of E. A. Stuart, founder of the Carnation Company, best known as the maker of such all-American food products as Carnation evaporated milk, Friskies pet food, Coffee-Mate nondairy creamer, and Contadina food products. In 1985, the Stuart family sold Carnation to Nestle, the Swiss-based global food giant. Today, Lucas is Chairman of Wealth Strategist Partners LLC, an investment advisory firm that provides an outsourced Chief Investment Officer service for individuals and families (including his own) of significant net worth. An accomplished speaker and educator, Lucas designed and teaches the Private Wealth Management program, exclusively for wealth owners, at the University of Chicago Booth School of Business. Lucas has a long-standing commitment to public service. He serves as a Director of the Stuart Foundation, which supports public education and child welfare programs in California and Washington. He also serves on the Investment Committee of National Public Radio in Washington, D.C. Lucas was formerly Senior Managing Director of the Ultra-high Net Worth Group within Private Client Services at Chicago-based Bank One. During the 1980s, Lucas worked for Wellington Management Company, serving for three years as General Manager of the firm’s European business operations and before that as Assistant Portfolio Manager of a Forbes Honor Roll mutual fund. Lucas has a bachelor’s degree with high honors from Dartmouth College, has an M.B.A. from Harvard Business School, and is a Chartered Financial Analyst. He is married with three children.

Foreword to the Second Edition     viii
Foreword to the First Edition     xi
Introduction     1
Chapter 1: Protecting and Growing Your Wealth     15
Chapter 2: Eight Principles of Strategic Wealth Management     37
Chapter 3: Start with Your Family Purpose     57
Chapter 4: Defining Your Financial Objectives     85
Chapter 5: The Enchanted Forest, the Secret Society, and the Capital Kibbutz     127
Chapter 6: Picking Your Investment Strategy     161
Chapter 7: Making Your Most Important Hire     211
Chapter 8: Taxes Can Be Your Ally!     249
Chapter 9: Promoting Entrepreneurial Stewardship     275
Chapter 10: Making Philanthropy Part of Your Strategic Wealth Program     305
Chapter 11: Putting It All Together: Multigenerational Planning and Wealth Transfer     331
Index     359