Private Asset Management

How To Ask About a Client’s Collection 12/09/2009

By Laurence Zale, founder, Laurence C. Zale and Associates, Inc.

Why do people collect? Many have asked themselves, financial advisors among them. Collectors and inheritors (their overlooked counterparts) are driven by curiosity and passion to financial gain and tax relief. While many feel an emotional involvement with their collections, some view them as disposable assets akin to stocks, bonds, and real estate.

Advisors are motivated to increase their clients’ liquid assets and manage them, but the illiquid variety such as fine art, collectibles, jewelry & gems, antiques and other personal property are rarely discussed because they are generally not part of advisors’ training and experience. Advisors are missing an ...

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