Our White Papers

Northwood’s white papers cover a variety of issues surrounding family wealth. Each paper provides advice on some aspect of helping successful families properly protect, sustain, and grow family wealth and human capital. The following is a selection of white papers on private wealth management and other topics of interest to our clients, prospective clients and professional advisors.

Family Security & Social Media: Protecting your family from security gaps in social media

Tom McCullough and Daniel Moulton
April 2011
Despite the benefits, social media has caused an erosion of privacy, leading to greater family vulnerability, exposure, and risks. Today’s social media users disclose a vast amount of personal information that can easily go astray, have unintended consequences, and could even be used against them. Families should recognize this new reality and work diligently to establish and maintain online privacy – especially families of wealth.
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Risk and the Role of a Family Office: What entrepreneurs and senior executives need to know

Tom McCullough
November 2010
Creating wealth is considerably different than sustaining that wealth, particularly if you are an entrepreneur or corporate executive. The path to this particular type of sustainability can be a perilous one but a Family Office can smooth that path and ensure that it remains clear for those who will inherit the wealth.
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The Shoemaker’s Children: Why smart, successful professionals can benefit from a family office

Tom McCullough
May 2010
A few years ago, I was talking to a lawyer who was lamenting the lack of time and attention she was able to devote to her own family’s personal financial affairs. “My personal affairs never make it to the top of my in-basket,” she said. While she clearly wanted to manage her own affairs well, client issues always seemed more important – and certainly more urgent.
It reminds me of the old Scottish proverb – and its variants in many other languages and cultures – “the shoemaker’s children go barefoot.” The moral of the story is that a busy cobbler is so busy making shoes for his customers that he has no time to make shoes for his own children.
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Canadian Citizenship: The wealthy global family’s safe and tax-efficient alternative

Tom McCullough, Scott Hayman, Jonathan Garbutt, David Lesperance
October 2009
Wealthy global families are becoming increasingly aware of their need for a well thought-out citizenship and residency strategy to protect their wealth and to safeguard their freedom of movement. In the uncertain world facing us today, prudent families understand the importance of keeping their options open and having multiple passport choices. Canada provides a safe and surprisingly tax-efficient alternative to many of the more well-known citizenships that the wealthy can consider acquiring. Canada also has a world-class professional services and financial infrastructure, making it an ideal location for their family office, particularly in the new ‘post-bank secrecy’ world.
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