Safeguarding the Family Enterprise: Security

WilsonTom Wilson, Managing Director, Private Client Group &
Senior Investment Manager

This is the first installment of a continuing series on the safeguarding of the family enterprise

During a recent trip in Chicago, I had the opportunity to listen to a speech by Arnette Heintze.  Arnette is a former Secret Service agent who has since created a security firm that caters to the needs of wealthy families.  His presentation included many examples of how his firm has been deployed to safeguard these families.  Some of the stories were very alarming.

Arnette’s intent was not to scare the audience, but rather to make the attendees aware that threats to wealthy families are real.  From harassment and name defamation, to extortion and blackmail, to the more personal security issues of stalking, threats, and kidnapping.  The wealthy family demographic has a variety of security challenges.

Many families contact security firms after a crisis has arisen.  This is unfortunate as preventative measures can have a meaningful reduction in the risks to families.

10.29.13_Wilson_SafguardingFamilyEnterprise_SecurityA holistic approach to wealth management can go beyond asset allocation and financial planning.  If you have not discussed the subject of security with your wealthy families, consider including this on the agenda in your next meeting.  After all, awareness is one of the best preventative measures.

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