Managing Concentrated Stock Wealth: An Adviser's Guide to Building Customized Solutions

263 Pages·2005·2.98 MB·English

by  Tim Kochis

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Praise for
Managing Concentrated Stock Wealth
by Tim Kochis
“ Finally someone has prepared the comprehensive guide for handling
concentrated stock positions. Tim Kochis has long been a leader in the
advisory community and built his business at ground zero of the technol-
ogy stock market boom. He and his partners were forced to develop an
unmatched expertise in helping clients manage large, single-stock positions
resulting from their employment. In this book, he shares his vast experience
and insights with other advisers.”
MARK HURLEY
CEO, Undiscovered Managers
“ Anyone who works with clients with inherited wealth or with corporate
executives should keep this book prominently displayed on his desk. I have
been referring to it more frequently than the yellow pages!”
ROSS LEVIN, CFP
President, Accredited Investors, Inc.
Author, The Wealth Management Index
“ If you can’t get Tim Kochis to advise you on your concentrated posi-
tions, buy this book for your adviser.”
RICHARD A. KASHNOW, PHD
Former Chairman and CEO, Raychem
Non-Executive Chairman, Komag
“ For those financial planners and investment advisers who work even occa-
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“ Tim Kochis has another hit with his latest book, Managing Concentrated
Stock Wealth. Advisers working with highly compensated executives will
find this book to be an invaluable resource as they deal with the complex
issues surrounding concentrated stock positions.”
TOM L. POTTS, PHD, CFP
Professor of Finance and FSP Program Director
Baylor University Hankamer School of Business
“ Tim Kochis’s book is unique in offering comprehensive, one-stop consid-
eration of this common client problem. It should be in every planner’s
library.”
JERRY J. MCCOY
Attorney, Law Offi ce of Jerry J. McCoy
“ Tim Kochis is the planner’s planner, and Managing Concentrated Stock
Wealth is essential reading for any adviser helping clients navigate the
return, risk, tax, legal, charitable, and psychological issues that come
with concentrated wealth. An indispensable book.”
PAUL SOLLI
Partner, Aperio Group LLC
“ If you have even one client with a concentrated stock position,
this is a must-read. Kochis combines decades of experience, exceptional
technical knowledge, and a gift for writing to create an invaluable guide
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Managing
Concentrated
Stock Wealth
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ALSO AVAILABLE FROM BLOOMBERG PRESS
Virtual-Office Tools for a High-Margin Practice:
How Client-Centered Financial Advisers
Can Cut Paperwork, Overhead, and Wasted Hours
by David J. Drucker and Joel P. Bruckenstein
Deena Katz on Practice Management:
For Financial Advisers, Planners, and Wealth Managers
by Deena B. Katz
Deena Katz’s Tools and Templates for Your Practice:
For Financial Advisers, Planners, and Wealth Managers
by Deena B. Katz
Building a High-End Financial Services Practice:
Proven Techniques for Planners,
Wealth Managers, and Other Advisers
by Cliff Oberlin and Jill Powers
In Search of the Perfect Model: The Distinctive
Business Strategies of Leading Financial Planners
by Mary Rowland
Practice Made Perfect: The Discipline of
Business Management for Financial Advisers
by Mark C. Tibergien and Rebecca Pomering
A complete list of our titles is available at
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Managing
Concentrated
Stock Wealth
An Adviser’s Guide to
Building Customized Solutions
Tim Kochis
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© 2005 by Tim Kochis. All rights reserved. Protected under the Berne Convention. Printed in
the United States of America. No part of this book may be reproduced, stored in a retrieval sys-
tem, or transmitted, in any form or by any means, electronic, mechanical, photocopying, record-
ing, or otherwise, without the prior written permission of the publisher except in the case of brief
quotations embodied in critical articles and reviews. For information, please write: Permissions
Department, Bloomberg Press, 731 Lexington Avenue, New York, NY 10022, U.S.A. or send
an e-mail to [email protected].
BLOOMBERG, BLOOMBERG LEGAL, BLOOMBERG MARKETS, BLOOMBERG
NEWS, BLOOMBERG PRESS, BLOOMBERG PROFESSIONAL, BLOOMBERG RADIO,
BLOOMBERG TELEVISION, BLOOMBERG TERMINAL, BLOOMBERG TRADEBOOK,
and BLOOMBERG WEALTH MANAGER are trademarks and service marks of Bloomberg L.P.
All rights reserved.
This publication contains the author’s opinions and is designed to provide accurate and authori-
tative information. It is sold with the understanding that the author, publisher, and Bloomberg
L.P. are not engaged in rendering legal, accounting, investment-planning, or other professional
advice. The reader should seek the services of a qualified professional for such advice; the author,
publisher, and Bloomberg L.P. cannot be held responsible for any loss incurred as a result of
specific investments or planning decisions made by the reader.
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by Certified Finan-
cial Planner Board of Standards Inc.
First edition published 2005
1 3 5 7 9 10 8 6 4 2
Library of Congress Cataloging-in-Publication Data
Kochis, Tim
Managing concentrated stock wealth : an adviser’s guide to building customized solutions /
by Tim Kochis. -- 1st ed.
p. cm.
Summary: “Explains to financial advisers a wide range of strategies for managing concen-
trated stock positions, including sale, gifts to charity and family, and retention”--Provided
by publisher. m
Includes index. mics.co
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2005005680 wletter.com;
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For my father, Stephen Kochis, and my father-in-law, Henry Wong.
Neither of them ever had signifi cant fi nancial resources,
but both enjoyed a great wealth of practical wisdom,
the guiding principle of this book.
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