Encore: The Albatross: Navigating Concentrated Wealth

Brought to you by the Investment Planning Knowledge Circle: Every adviser has met the client with one stock, a very low cost basis, and a substantial gain they do not want to realize carelessly. This session starts with client priorities: liquidity, retained exposure, cost, risk, and tax management. It maps those priorities to practical solutions in seven families, including staged selling, hedging, and giving. Before the technical work, though, we ground the discussion in the extremes: what happens if the client sells today, and what happens if they just keep holding?

Competency Level: Intermediate
FPA Competency: Critical Thinking
CFP Board Topic: Investment Planning, Tax Planning
CFP Board CE Credit Hours:

• Rank a client's priorities across liquidity, retained exposure, cost, risk, and tax management, and identify where those priorities conflict.
• Quantify the two extreme outcomes, selling today and continuing to hold, and use them as the baseline against which every other solution is measured.
• Map a given set of client priorities to the family of solutions.