Aquilance

If you are a HNW family, are you really getting a comprehensive suite of financial planning guidance from your advisor?   John Carey recently spoke with karen demasters of Financial Advisor Magazine to discuss the disconnect between what advisors claim to offer and what is actually received. While many advisors promise a holistic approach, they often focus mostly on investment management, leaving other critical areas—like estate and tax planning—out of scope.   To offer true comprehensive planning, advisors need to integrate more banking technology into their wealth management considerations. Check out the link below for John’s thoughts on why this disconnect in the industry is happening, and what’s being done about it.   https://lnkd.in/emrsixTn

Welcome to the team, Craig Setera!   Craig joins Aquilance as our first CTO, and brings an extensive background in software development, IT, and product management. His experience will be invaluable as we continue to grow our technological capabilities, which better serve our client base of HNW families and family offices.   Check out more in Craig's bio on our team page. https://lnkd.in/gpUjVhBX

Lots of exciting plans ahead for Aquilance! To help shed some light on what’s to come, John Carey recently sat down with Michael Thrasher of Institutional Investor, to discuss Aquilance’s growing role in shaping personal financial management expectations for #HNW families and family offices.   Check out the link below for an in-depth look at why John joined Aquilance, the biggest gaps in wealth management right now, and the role that technology could play in improving them.   https://lnkd.in/ePSaFpzR

We are excited to share that Aquilance has been celebrated in Acclaim Magazine for our win in the prestigious Family Wealth Report Awards!   Aquilance is dedicated to empowering high-net-worth families and individuals with the clarity needed to make economic decisions that shape their financial legacies. This year, our standout improvements in client servicing and bill pay have been game-changers, leading to tremendous adoption as we expanded our client base.    This success would not be possible without our team, who average over 10 years of experience and proudly build long-standing relationships with clients. Their expertise and commitment to personalized service are the cornerstones of our success.   Looking ahead, Aquilance will continue our ongoing investment in technology and talent. Our devotion to white-glove service ensures we remain at the forefront of the industry. https://lnkd.in/eww8AbGD

Exciting news from Aquilance! We are looking to hire our first-ever Chief Revenue Officer.   This comes amid significant expansion for us, and brings an opportunity for the right candidate to play a leading role in reimagining financial administration solutions for wealthy individuals and their families. We are truly at a pivotal point in the wealth tech industry, and we have big plans for growing our position in it.   More details about the role, our expectations, and what we are looking for can be found in the link below. All interested parties should feel free to apply directly, and can contact info@aquilance.com for more information. https://lnkd.in/eQ6f8P89

On June 26th the Larry Kraus Family Office Tax & Tech-NEW-logy Institute presented a program on Ransomware: What Family Offices Need To Know, If And When Data Is Compromised. The moderator was Tony Gebely, CEO of Annapurna Cybersecurity Advisors. Tony interviewed David Sun, CISSP, CCE, EnCE who leads the cybersecurity incident response and computer forensic services for CohnReznick and Annmarie Giblin, Partner in the Global Cybersecurity and Privacy Group at Norton Rose Fulbright. The video and podcast from this program can now be viewed on https://lnkd.in/dwhJaq-n Thank you Aquilance Norton Rose Fulbright and CohnReznick LLP for hosting a cocktail party with the panelists and moderator. #familyoffice #cyber #security #ransomware

College athletes drive millions in ticket and merchandise sales every year, but until recently, only the 5% who went pro could profit. Yet, thanks to a 2021 Supreme Court ruling, these athletes can now reap the financial rewards of their Name, Image, and Likeness (NIL). But how can they navigate the many financial complexities that come with this change?   In a co-authored byline with Debbie Spander, Joe Farren discusses the financial challenges of NIL in a new article for Sports Business Journal. While the big numbers may seem exciting to young athletes, it's critical to remember that what is received is far less than what is earned, due to taxes, commissions, and other fees. Plus, athletes need to be cautious developing their profile as wealth is often well-reported and can attract those with ill intentions.    This is why it's more important than ever to work with trusted advisors who can ensure your best long-term interests are prioritized. After all, managing newfound wealth is as important as earning it.   #NIL #StudentAthletes #SportsBusiness https://lnkd.in/e58Ss_-t

We are thrilled to welcome John Carey as the new CEO of Aquilance!   John brings significant expertise in creating digital technology solutions that improve the wealth management and financial services industry. Before joining Aquilance, he served as Head of Consumer Experiences for Envestnet, GM of Wealth Management for Harvest Savings & Wealth Technologies, and Chief Operating Officer for FolioDynamix.   This marks an exciting new chapter for our firm, and we look to forward to sharing many new product and service enhancements for our HNW clients in the coming months.   Please read more on today’s announcement below. https://lnkd.in/eTYZu24M

Navigating taxes within estate planning just got trickier, thanks to a recent IRS rule change.    The new regulation alters how the "step-up" basis applies to assets held in an irrevocable trust. Previously, in the case that someone inherits an asset with unrealized gains, its basis "steps up" to the current market value, wiping out any past tax liabilities. This provision has long been used in estate planning to minimize tax burdens for beneficiaries.   However, the new rule does not allow the basis to reset unless the assets are part of the original owner's taxable estate at the time of their passing. This complexity underscores the value of working with advisors who can help strategically review estate plans to ensure compliance with updated regulations, in addition to optimizing tax strategies and conducting comprehensive planning. At Aquilance, we work with tax and estate planners to ensure they have the best information available about a family's current situation to make the most informed decisions and protect wealth for generations to come.   https://lnkd.in/g3WeWkPf 

Estate planning tools and P&C coverage often intersect, but a disconnect tends to emerge amongst clients, advisors, and estate-planning attorneys - and this can sometimes pose a threat to insurance protection.   There are frequent changes in estate planning laws and practices that impact inheritance, such as the utilization of qualified personal residence trusts (QPRTs), which can minimize tax liabilities and protect assets. While this is financially beneficial, its consequences on property and casualty insurance must be considered.   The successful navigation of these complexities relies on aligning all parties involved. At Aquilance, we know that comprehensive understanding and collaboration amongst stakeholders is essential to safeguard client interests, and we work closely with estate, tax, and financial advisors to keep everyone well informed.   https://lnkd.in/eXHc8rX2