Jess S. Morgan & Company, Inc

Business Managment & Invesment Advisory Services


showing 11 - 13 of 13 post(s)


By: Jeremy D. Stahl. CPA |  (0) Post comment »  |  Read comments »

In this and subsequent blogs I will  initially  address the concept of the ” Family Office” an often heard but not always fully understood concept in the high net worth community.


Traditionally and historically the family office was organized to manage and administer the affairs and fortunes of a single wealthy family.  The focus was on managing and coordinating  investments, trusts, legal affairs, accounting, taxes, insurance, real estate,  foundations, philanthropic endeavors, wealth transfer to future generations and much more.


Typically the complexity of such activities required the hiring of extensive professional and support staff and even legally  organizing in the form of an LLC or corporation.  Clearly such  level of activity required an operating budget at least in excess of half million to a million dollars and  certain minimum levels of family wealth (ca. $50mm- $100mm) or  several million in revenues to make such an undertaking feasible.


While there are many families operating their own family office with assets/revenues in this  size range or indeed much larger there are those that have found that consolidating activities of several families into one office can produce many synergies.  Such arrangements are referred to as “multi-family offices”  consisting of up to a dozen families often organized by the families themselves.  Alternatively, “ multi-family offices” have come together as result of one or two smaller families employing the  services of  professional services providers such as larger accounting firms, asset managers or business management firms.


Indeed it is actually the more traditional business management firms (those that have historically  simultaneously serviced  numerous large entertainment clients on the east and west coast)  that have the experience,  pre-existing infrastructure and the multitude of professionals (CPA’s trust, investment, etc)  to attend to the service requirements of wealthy families who are considering a family office structure but who do not want to go it alone.  A family  may not want to go it alone because the matriarch or patriarch of the family may not have the knowledge, business experience, energy or confidence to assimilate the pieces for an effective office or co-equal members of a family can simply just not agree which path to take.


This is where the existing “multi-family” office could certainly assist. I look forward to your comments and please check back for subsequent Family Office related blogs.


Insurance Planning for Physicians

By: Jeremy D. Stahl, CPA |  (0) Post comment »  |  Read comments »
Physicians have specific insurance needs to address in their personal and professional lives.  It is important that you review all of your personal and professional insurance needs together.  By reviewing all of these needs together you can help bridge any gaps in coverage, have a full understanding of all of your insurance needs and can make the most educated decisions about the risks you are exposed to.
The best way to approach this whole picture analysis is to do an overall financial review.  An overall financial review should include an analysis of your financial net worth, your income and expenses annually, short and long term financial needs and goals, and estate planning considerations.  This approach will greatly assist in pinpointing all of the risks a physician is exposed to and also provides greater guidance in assessing the needed coverage amounts.  Being armed with this valuable information you will be able to provide specific instructions to your insurance broker.  
Having a firm grasp on your whole financial picture as well as your personal and professional risk exposure will provide greater clarity and objectivity in placing your coverage.  Once you have this information you will be able to begin the process of getting these policies put into place.  You should look to take advantage of broker discounts for coverage on multiple policies, financing arrangements to help increase efficiency in your cash flows and compare multiple insurance broker quotes and policy coverage limits.
A physician taking this insurance analysis approach will be better prepared to protect their assets and professional livelihood.

Entertainment Executives – The “Hot Seat”

By: Jeremy Stahl |  (0) Post comment »  |  Read comments »

Entertainment executives have long lived on the hot seat, as their position to decide what movies or televisions shows get seen generates a high level of criticism from both the creative and the financial communities.  Being able to get both creative and financial acclaim is a difficult proposition and everyone loves to blame someone for the downfall of a high profile movie or television series.


When executives get either the accolades for success, or the ridicule for failure, it usually means that they will either parlay this into a better employment agreement, or they will be negotiating their exit from the studio.  Under either of these scenarios the executive should be consulting both their attorney and business manager to help obtain the best financial results possible.  This means having both the legal and financial advocates that can help with contract negotiation, compensation and stock option valuation, tax implications, as well as fringe benefits negotiation and evaluation.  Being able to analyze all of these options and scenarios is very important, and can be of significant value both legally and financially.


Also of most importance for executives living on this perpetual hot seat is planning for the eventual end of their current position. Since they live under such scrutiny, it is paramount to make the proper planning in order to maximize the positive opportunities received from this position.  This is especially true if the executive has made it to the upper echelon of company ranks.  The target on their their backs is large, which is one reason why they earn such substantial paychecks.  Investing, estate planning, tax planning, retirement planning, budgeting, and saving for the future are all crucial if your goal is to maximize the financial success that comes along with rising to such heights within the entertainment industry.


The more planning done up front the better you will feel when the ride comes to its eventual end, as so many of these do.


If you have any specific questions about planning please don’t hesitate to contact us.



contact us

Office Details:

5900 Wilshire Boulevard
Suite 2300
Los Angeles, CA 90036

Tel: 323.634.2400
Fax: 323.937.6532