We are pleased to acknowledge that Charles Lowenhaupt, Chairman and Partner, Lowenhaupt & Chasnoff, LLC, was awarded by Family Wealth Report for Outstanding Contribution To Wealth Management Thought Leadership.

By Charles Lowenhaupt

I recently had a fascinating conversation with Spencer Kympton of The Mission Continues, the nonprofit organization that helps veterans adjust to life at home and find purpose through community engagement.

Spencer went to West Point, served in the military, and received an advanced degree from Harvard Business School. Afterward, he secured a prestigious job at a consulting company. Despite his apparent success, he still felt unsatisfied. He wanted to help others, so he turned to the nonprofit world of community engagement. Ultimately, he joined The Mission Continues, where he could draw on his experience in the military and his family’s experience in the service. Today, he is the President of the organization.

The Mission Continues is a terrific example of the power of engagement and self-actualization. As leader of the organization, Spencer now enjoys the contentment lacking in his life as a consultant, and he has a clear mission – just as he did when he was on active duty. Read More

By Charles Lowenhaupt

Just after I finished writing my just-released second book, The Wise Inheritor’s Guide to Freedom From Wealth, I wrote a piece for a well-respected publication about an unhappy wealth inheritor who was struggling with addiction, fighting to refashion his legacy, and who ultimately died. I saw in his story some clear illustrations of the challenges many wealth inheritors face as they try to live productive lives and put money and legacy in their place.

I thought the perspective was entirely relevant for inheritors and their families. Surprisingly, I was criticized for focusing on the misfortune of one wealth inheritor without talking about all the happy wealth inheritors in this world. Indeed, one of the industry’s leading consultants wrote to tell me that it is time to quit talking about the challenges of wealth. Instead, I should start highlighting all the successes of wealth. Read More

By Charles Lowenhaupt

Matthew Mellon, scion of the Mellon and Drexel families, was the kind of aristocratic wealth inheritor and creator that embodies the truly rich.

He was privileged, good-looking and never had any reason to believe he would be without enough money. Indeed, he was said to have created a billion dollars of his own wealth in cryptocurrency.

Yet, several weeks ago, his life ended abruptly at 54. He died as he entered a Mexican drug rehabilitation facility after battling drug addiction. In 2016, he said he was taking 80 OxyContin pills a day at a cost of $100,000 a month.

How could a person with the potential to do so much good, and with so many resources at his disposal, lead a life that ended so tragically? Read More

By Charles Lowenhaupt

As volatility returns to the market and inflation is again top of mind, it would be wise for private wealth holders to revisit the fundamentals of their investment philosophy.

If they have managed wealth properly, very little will have changed over years. As always, the starting question remains same: What is your wealth for? Due diligence, asset allocation process, and diversification remain the foundations of good wealth management. With the new tax law in the U.S., wealth holders may also want to revisit many of their tax strategies. Read More

Family Wealth Report and Charles Lowenhaupt discuss his concept of freedom from wealth, the Institute for Wealth Management Standards and why inheritors are being prevented from achieving the American dream.

The question arises when it comes to handing wealth to children: which role is easier – that of the parent or the trustee? It is not an easy one to answer. (more…)

December 29, 2016

Watch this special video about Conflicts of Interest: Art and War in Modern Japan, currently on exhibit at the Saint Louis Art Museum. The exhibition showcases extraordinary visual material documenting Japan’s rise as a military power in East Asia, starting with the Meiji Restoration in 1868, then depicting events of the Sino-Japanese War (1894-1895) and the Russo-Japanese War (1904-1905), two wars between Japan and its imperial neighbors China and Russia, and then culminating with Pearl Harbor.

The exhibition is possible due to the generous gift of 1,357 Japanese prints and related works of art given to the Saint Louis Art Museum in 2010 by local donors, Charles and Rosalyn Lowenhaupt.

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October 17, 2016 | By Charles Lowenhaupt

Warren, where are you?

Your company, Berkshire Hathaway, is the single largest shareholder in Wells Fargo, which was recently fined $185 million by U.S. regulators for fraudulently opening accounts for millions of customers. CEO John Stumpf announced his resignation last week.

Yet, there has been no word from you, one of the most respected investors of all time. You’re a man whose social conscience and impact is among the most enlightened on the planet. You set the example for Bill Gates, Mark Zuckerberg and others, but you have been deafeningly silent about the Wells Fargo culture and action. Many shareholders, customers, city officials, federal legislators and others have publicly expressed their dismay and indignation about Wells’ egregious practices. Some have even stopped doing business with the bank in protest. Read More

June 17, 2016 | By Charles Lowenhaupt

The so-called “charitable” LLC has been getting some good press lately.

A month ago, Wealthmanagement.com ran a story entitled, “A Sea Change in High-Net-Worth Philanthropy?” In December, The New York Times reported that Mark Zuckerberg and his wife, Priscilla, created an LLC to help give away 99% of their wealth.

In both instances, the media pointed out that this legal structure is gaining favor among those with significant wealth – billionaires and deca-millionaires.

So what’s all the fuss is about? I’m really not certain, actually. Read More