Jan Alexander
11/01/2005
The ranks of charlatans set on separating wealthy individuals from their money seem to grow with every passing week. But these obvious interlopers are relatively benign when compared to the more insidious threats posed by those trusted individuals within a family’s financial inner circle. While most of the wealth managers, trustees, family office executives and caregivers who serve affluent families are beyond reproach, unscrupulous individuals do prey on their wealthy employers. Some find it surprisingly easy to take advantage of the trust imparted to them by naive or unvigilant families. But, increasingly, wealthy people are learning how to uncover those who breach their trust and fail in their fiduciary responsibilities. Rather than allowing themselves to be steamrolled or defrauded, families are increasingly turning to the courts—or the police—when they find their trust has been abused.
Additional Information
Sentinels or Swindlers?