With more than 40 firms having gone public since the year began, 2014 is shaping up to be a hot year for initial public offerings.
In addition to public offerings, a brisk amount ofM&A activity in the technology sector，包括190亿美元的Facebook收购WhatsApp，创造了一类全新的股票富裕高管。为了财富经理那meeting the needs of the Class of ’14 is a complex task that requires careful planning and advice for risk management.
任何新铸造股权的接受者都可能不堪重负，难免介意在科技IPO产生的一些规模上的意外收获。Demetri Detsaridis这是第一手人知道的。他是纽约社交游戏公司的高级行政，2011年由Zynga收购的Zynga在旧金山总部博彩公司（Farmville和Friends的言语）中获得的Zynga收购时。Detsaridis已经看到早期员工努力努力，虽然与新发现纸财富相关的长期存在的问题，但他很幸运，他有一个财务顾问通过他的投资选择，特别是关于税收效率。他说：“股权和股权和股权 - 期权计划以这样的方式建立，这通常是最简单的销售方式是最糟糕的，最不纳税，”他说。“这是因为所实施的程序是公司本身最摩擦的，而不是使个体员工股东获得的机构服务提供商。”
注册投资顾问建议尽早从事房地产规划，特别是对于具有家属的创始人和早期雇员。“When the asset value is most likely at the lowest that it will ever be — that’s probably where you get the most bang for your buck when you do estate planning,” says Richard Bloom, a CPA, personal financial and tax adviser at WeiserMazars working at the firm’s private client services and tax practices group in Edison, New Jersey. “Setting up a trust when you set up the business and putting company stock or the limited-liability company interest into a child’s name at the inception to ensure that any future growth is out of the estate are strategies they should be considering.”
CTC Consulting/Harris myCFO, a wealth management division of Chicago-based BMO Harris Bank, which is owned byBank of Montreal那has管理下的资产345亿美元。其大部分客户都是硅谷科技精英的一部分。
James Cody, director of estate and trust services at CTC Consulting/Harris myCFO in Palo Alto, California, agrees that it is best to do financial planning before a liquidity event like an IPO or a sale, if possible. “We’ve discussed creating grantor retained annuity trusts, or GRATs, with young technology executives, and they look at us like we are crazy,” he says. According to Cody, single, childless, young tech millionaires often ask why they would need GRATs, an investment vehicle that pays out an annuity for a set period of time, after which any remaining funds are passed tax free to a beneficiary, often a close family member. Cody points out that benefits from GRATs have multiple uses. Recently his firm has constructed plans for the non-U.S.-citizen significant others of clients as a strategy to minimize gift tax treatment for foreign recipients, which can be prohibitively costly.
Sometimes the ability to cash in on paper wealth isn’t dependent on a merger or an IPO. “Of the companies set to go public this year, there will be a good-size percentage that executed a program with us,” says Bill Siegel, vice president of platform operations at New York–headquartered SecondMarket, a website for trading illiquid assets.
在2004年成立于2004年，在过去几年中，距离Facebook，Twitter和LinkedIn等公司的私人股票交易中间的私人股票交易中的突出者崛起。该公司的一个主要焦点是允许不打算在近期公开公开的公司的二级交易，但希望通过允许他们将股票销售为公司本身或主要初始的投标提供的股票提供流动性投资者。二次市场与发行公司的律师合作，允许当前和前雇员和早期阶段投资者将既定股份销售为提供 - 在某些参数内。“在Facebook IPO之前的几年里，有一群经纪人寻找他们可以的任何地方的流动性，”Siegel笔记。“这对公司和员工来说是一种破坏性的过程。”
西格尔,谁负责监督所有我感到ate company transactions at SecondMarket, says that many of SecondMarket’s clients use annual and semiannual tenders not only to unlock value in illiquid shares but also as a human resources–related function to retain and reward employees.
无论发生流动性事件如何以及当发生流动性事件时，人性都会导致投资者进入可预测的陷阱。Cody已经管理了许多年轻技术客户，与成功相反，潜入全新的一系列投资以及经常有风险的 - 屡获危险的 - 由朋友和同事领导的初创企业。“我们劝告他们负责任地管理自己的财富，并记住他们可能再也不会实现了这样一个戏剧性的发薪日，”他说。