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Stuart Lucas

Co-Managing Partner and Chief Investment Officer, Wealth Strategist Partners, LLC

General Session 3: Perspectives on Concentrated Wealth and Liquidity Events

In addition to being an investor, wealth advisor, educator, and author about wealth management in families, Stuart is a member of the fourth generation of the family that created the Carnation Company, which was sold to Nestle for cash in 1985.  Stuart will start the session with a case study of Carnation Co. and the Stuart Family that is rich in lessons learned, good and painful.  He will then expand the conversation to address the opportunities and substantial challenges of serial and one time liquidity events for business executives and entrepreneurs.  His analysis is fundamentally strategic; his perspective always integrates tax, estate planning, cash flow and investing.  This integration is  the central theme of his most recent book The Taxable Investor’s Manifesto (Wiley 2020) as well as the Private Wealth Management program at the University of Chicago Booth School of Business, which he leads.   When Stuart speaks with wealth owners he is a principal among principals.

Biography

Stuart Lucas is founder, co-managing partner, and chief investment officer of Wealth Strategist Partners (WSP). WSP are investment, wealth, and family business advisors to a select group of large complex family enterprises. WSP is the successor to his family’s investment platform, formed following the sale of Carnation Company, the business founded by his great-grandfather. The family remains a client of WSP.  Mr. Lucas has been an investment professional for more 35 years. He also is chairman of the Investment Committee of National Public Radio and is a board member of the National Public Radio Foundation. He is vice chairman of the board and co-leads the Investment Committee of the Stuart Foundation, a California-based foundation. Mr. Lucas designed and directs The University of Chicago Booth School of Business Private Wealth Management continuing education program, which has served more 1,000 individuals and families in the 14 years since the course’s inception. His first book, Wealth: Grow It and Protect It (FT Press) has been published on three continents. He is the author of numerous articles on investing and wealth management, most recently “The 50% Rule” and “Pick Your Battles” (Journal of Wealth Management), co-authored with Alejandro Sanz. His latest book, The Taxable Investor’s Manifesto” (Wiley), was published in early 2020. Previously, Mr. Lucas was the senior managing director of the ultra-high-net-worth group within Private Client Services at Bank One (now JP Morgan Chase); director of a multi-family investment office in Paris, France; general manager of European operations of Wellington Management Company in London, England; and assistant portfolio manager of a Forbes Honor Roll mutual fund. He earned a BA with honors from Dartmouth College and an MBA from Harvard Business School.