Chapter 19

Asset Location and Implementation

In this chapter we will discuss two issues to which many investors and advisors give short shrift. The first is the asset location issue: how to decide which of the many family investment “pockets” to use for which investment assets. The second issue is the implementation issue: how to move from a mainly liquid portfolio to a fully invested position. (Or how to move from one strategy to a very different strategy, although one hopes this would be a rare event.) Properly negotiating these challenges can have an important impact on a family's wealth.