Today’s high net worth and ultra-high net worth business owners mostly came from a modest upbringing. These entrepreneurs, the real job creators in society, are not well protecting themselves and don’t have a strong succession plan, a study from Bank of America’s U.S. Trust finds. Wealthy business owners lacking proper succession planning Of business owners with at least $3 million in investible assets, nearly 60 percent grew up in middle- or lower-income households while 77 percent founded their firms. These business creators often see their businesses as extensions of themselves and take a different outlook on employees. The report noted…
High Net Worth Business Owners Share Common Traits
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.