Teaching children about philanthropy has benefits for charities and children.

SOURCE: “Raising Philanthropic Children: Lessons from the Field,” Federal Street Advisors,

Will my children live by the values that have guided my life? Will they do their part to make the world a better place? Wealth managers at Federal Street Advisors hear these questions again and again, so the Boston-based firm has created a white paper on philanthropy.

Among their suggestions for adults with kids: start early, lead by example, give the children some control and express your pride. Not only will kids schooled in philanthropy be more socially responsible, Federal Street says, they will also have better social skills, higher self-esteem, increased appreciation for their own good fortune and a generally better sense of how to manage their inheritance.


The number of U.S. millionaires grew in 2011.

SOURCE: “Affluent Market Insights 2012,” Spectrem Group,

For the third year in a row, the number of U.S. households with a net worth of $1 million or more, not including primary residence, rose, according to Spectrem’s annual report. The 8.6 million total in 2011 reflected an increase of 200,000 over 2010. The three-year trend probably reflects the recovery of portfolio values since the stock market plunge of 2008 and early 2009.


Women need financial sophistication that reflects their growing earning power.

SOURCE: The Coming Widow Boom by James F. (Buddy) Thomas Jr. (Robert D. Reed Publishers); The Richer Sex by Liza Mundy (Simon & Schuster); The Seven Pearls of Financial Wisdom by Carol Pepper and Camilla Webster (St. Martin’s Press)

Demographics have been predicting the trend for years, and now a slew of new books address the topic: Increasingly, women are out-earning men. The Coming Widow Boom discusses how women typically outlive their spouses — by 14 years, on average — and how women used to depending on their husbands’ financial savvy can prepare to take the reins themselves. The Richer Sex argues that within a generation, more households will be supported by women than men, and then explores how that fact will impact everything from finances to sex. And The Seven Pearls of Financial Wisdom — a “guide to enjoying wealth and power” — uses the experiences of more than 60 successful women, from Lauren Bush Lauren to Moira Forbes, to help women form their investment approaches and manage their own wealth.


London’s calling.

SOURCE: “The Wealth Report 2012,” Citi Private Bank and Knight Frank,

London is the most important city in the world for high net worth individuals, judging by everything from its investment potential to economic openness to its appeal as a place to live or visit, according to a survey of Citi Private Bank’s wealth advisors and luxury property specialists from consulting firm Knight Frank’s global network. New York followed at number two, with Hong Kong, Paris, Singapore, Miami, Geneva, Shanghai, Beijing and Berlin rounding out the top 10. Predictions for 10 years from now kept London and New York in their current spots, but the rest of the lineup shifted as follows: Beijing, Shanghai, Singapore, Hong Kong, Paris, São Paulo, Geneva and Berlin.


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