Lowenhaupt Global Advisors: Frequently Asked Questions.

1.   Who is Lowenhaupt Global Advisors?
2.   What is a family office and how does LGA build them?
3.   What does LGA do for families of significant wealth?
4.   What are your services?
5    How does LGA tailor a program to meet a family’s specific needs?
6.   What does LGA mean when it says it offers “unconflicted?” advice?
7.   How does LGA serve existing single-family offices?
8.   How does LGA view and manage client service standards?
9.   Do I have to use all of LGA services?
10. Does LGA have any proprietary services that I must use?
11. What is your investment management philosophy?
12. How do you manage investment risk?
13. How do you earn money?
14. What are the Principles of Private Wealth Management developed by LGA and why are they important?
15. Why work with Lowenhaupt Global Advisors?

1. Who is Lowenhaupt Global Advisors?

• Family-owned for more than 100 years, Lowenhaupt Global Advisors (LGA) provides single-family office services.

• We design, operate and advise single-family offices to ensure that wealth is preserved and is managed productively
across generations for the benefit of individuals, families and communities.

• We integrate investment advisory, tax and estate planning, risk management, fiduciary services, family governance
and philanthropy. We coordinate all of the interaction among a family’s providers, including investment professionals,
lawyers, and accountants.

• We believe that investment and wealth management strategies must be clear enough that clients understand exactly
how their wealth is being managed.

• We ensure that our clients’ wealth is a source of satisfaction – not a source of stress – by addressing the individual
needs of each client and each family.

• We adhere to a business model that always aligns our economic interests with our families’. Our fees are paid entirely
by clients, and we do not accept fees from third-parties. We have no hidden financial incentives or
motives, and thus have every reason to act in the best interests of our families.  
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2. What is a family office and how does LGA build them?

LGA creates or manages single-family offices dedicated to a family’s entire well being – everything from investment
management to governance to education planning to philanthropy. Each of our family offices is customized to provide
the services necessary to achieve a family’s stated objectives. We manage all of these services seamlessly and cost
effectively. Most importantly, we provide exceptional daily service to take care of clients and their family members.
When we work for existing family offices, we deliver the same standards of customization, service and advice.

Families engage LGA for their family office because they want the experience and wisdom LGA can bring through
its management team, its Global Council, its fully developed processes, and its adherence to principles of wealth
management. Each family office is customized to the needs of individuals and families. Some families have no family
office infrastructure, and we help them build it. Others have infrastructure, and we help them make it work better.
Still others have infrastructure that is outdated and requires restructuring or replacement.  
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3. What does LGA do for families of significant wealth?

We help families achieve freedom from the burdens of their wealth. We believe the purpose of wealth is to empower
individuals and families to live life on their own terms. To accomplish that objective, we begin with the fundamental
question: “What is the wealth for?” We then work to find the answers, strategies and services that assure families that
their long-term vision is realized and their assets are properly managed. We apply more than 100 years of experience
in the single-family office business to build an objective framework to manage all of the aspects of wealth, so both the
individual and family can fully enjoy life.

Our work begins with a comprehensive financial, fiduciary and family capital gap analysis. This analysis prepares us and
our clients to:

• Assess, and if necessary, adjust goals and objectives.

• Determine the best ways to preserve and grow wealth.

• Prepare future generations to be responsible owners of wealth.
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4. What services does Lowenhaupt Global Advisors provide?

• We design and manage a family’s single-family office.

• We partner with select existing family offices to expand or enhance services and professional resources.

• We serve as a family’s advisor and advocate in addressing significant transitions and challenges to the
family and its wealth.

• We provide family group and family members with the highest caliber analysis, assessment, recommendations
and execution to help them reach their goals – short and long term.

Integrating And Coordinating Services

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5. How does LGA tailor a program to meet a family’s specific needs?

• Customization is a value and core competency of our firm. We believe that outstanding family office services can be
delivered with careful customization and continuing focus.

• We build family office services de novo or help refine existing capabilities so that they are completely customized to
accomplish a family’s goals.

• A Family Office Executive is responsible for bringing together the expertise of carefully selected LGA team members
and a family’s key advisors. The Family Office Executive is trained to lead a team of multi-disciplinary experts and
support staff.

• The Family Office Executive coordinates the delivery of all these services.
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6. What does LGA mean when it says it offers “unconflicted?” advice?

We believe there must never be any conflicts of interest or hidden financial motives between Lowenhaupt Global
Advisors and its clients. LGA’s only compensation is a fee agreed upon in advance, confirmed in writing and paid
only by our clients. We do not accept any third-party fees. Every dollar we earn during a client engagement is paid
to us by the client.
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7. How does LGA serve existing single-family offices?

• Each single–family office relationship is professionally supported with the same analytical and process discipline
that has been successfully developed for our all clients over the generations. We concentrate on four key areas:
      - Assessment
      - Advice
      - Execution
      - Monitoring

• LGA’s role is customized to each family office’s needs by:
      - Supplementing existing resources
      - Providing new or expanded services
      - Partnering to improve results, risk and cost management
      - Assisting and supporting all types of family and family office transitions

• LGA’s goal is to help each family and family office save time, save money and make better, more effective decisions.
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8. How does LGA view and manage client service standards?

LGA understands the art of exceptional, discreet service.

As a third generation, family-run business that has served families some of whom are now in their seventh generations,
we are proud of our heritage of service that began in 1908 with Abe Lowenhaupt, the first U.S. attorney to concentrate
in tax law. Our staff-to-client ratio is among the best in the wealth management industry.
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9. Does a client have to use all of LGA services?

• No. We work with clients based on their needs and existing resources.

• We encourage our clients to avail themselves of any and all available LGA services, so that their family and its capital
are preserved and managed.

• We can build and provide comprehensive family office services if that is the family’s need and objectives.
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10. Does LGA have any proprietary services that a client must use?

No. LGA is unique in that there are no services proprietary to LGA that a client must use. We do not require assets under
management, and if the client desires, we can easily delegate full selection of managers to those outside our company.

Our related law firm, Lowenhaupt and Chasnoff, serves as attorney for many of our legacy families, all of whom
have used the law firm for more than thirty years. But our law firm does not work directly for other families and is
instead a resource for LGA by helping the LGA team understand entities, estate plans, tax complexities, and fiduciary
responsibilities. The law firm also plays a role in coordinating lawyers being used by clients and ensuring that the legal
affairs of a family are handled responsibly and efficiently. We never encourage any client to retain the law firm in lieu of
his or her trusted lawyers. We presently include many accountants, banks, attorneys, investment managers, investment
consultants and others among those with whom we work on behalf of clients.
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11. What is Lowenhaupt Global Advisors' investment management philosophy?

• LGA approaches investment management differently from other firms. We believe that the appropriateness of the
investment strategy based on the client ’s specific goals is just as important as investment returns. Each portfolio
needs to be customized to meet the individual’s needs. We conduct ongoing and systematic due diligence to
make certain that the investment strategy, money managers and investment vehicles are consistent with the wealth
holder ’s stated objectives. We ensure that our clients are complying with fiduciary requirements, that communication
between managers and clients is clear, that investment policy statements are reasonable, and that the portfolio
meets the long-term and short-term needs of the client, whether for cash, liquidity, risk management, or tax
efficiency. We manage the investment process entirely from the client ’s perspective.

• LGA insists that every manager and every manager of manager complies with processes of the highest standards
with respect to independence, transparency of fees and transactions, diversification, custodial relationship, reporting
care and similar matters.

• LGA does not accept any third-party compensation. There are no embedded fees or inherent conflicts of interest.
We do not accept soft dollars.
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12. How does Lowenhaupt Global Advisors manage investment risk?

• Our risk management approach is embedded in our investment management process and practices, including
rigorous ongoing portfolio performance and risk monitoring.

• We believe performance is based on two components – return and suitability for each client situation. By ensuring
the investments are appropriate – and that the strategy and investments are clearly understood – we manage
risk effectively.
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13. How does Lowenhaupt Global Advisors earn money?

We charge a quarterly advisory fee covering all services. Our fees are based on assets or on a fixed amount,
depending on each family’s needs. Our fees include all services, with the exception of custody fees and management
fees for investment managers. At any time, we are happy to conduct a fee comparison to demonstrate the value in
our fee structure.
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14. What are the Principles of Private Wealth Management developed by LGA
and why are they important?

• The Principles, written by Charles Lowenhaupt, founder of Lowenhaupt Global Advisors in conjunction with LGA
staff and the LGA Global Council, are a code of conduct and best practices that govern our approach to providing
services. LGA and the members of its Global Council are committed to helping each client adopt and comply with
the Principles and the Standards being developed from them. The Principles ensure that your wealth is managed
with discipline, process and integrity.

• The Principles form the basis of a major global initiative led by families of wealth and the industry ’s most respected
wealth advisors. For more information about the initiative and the Standards, visit www.wealthstandards.org.
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15. Why work with Lowenhaupt Global Advisors?

 • Integrity: We provide independent advice with an emphasis on risk management. We fully disclose our fees,
and we do not accept any third-party compensation. There are no embedded fees or inherent conflicts of interests.
Our interests are always aligned with our clients’.  

• Service: We understand the art of exceptional service. We believe our staff-to-client ratio is among the best in the
wealth management industry. Frequent dialogue ensures that the investment strategy and a family’s goals are always in
synch.   

• Results: We believe that results are measured in terms of generations and decades, not quarters or years.   Our
investment process delivers strong performance and the appropriateness of investments is as important as investment
return. Careful monitoring is built into our oversight process.  

• Teamwork:  We draw on the experience and expertise of a multi-disciplinary team to collaboratively manage the
complex issues of family wealth. To ensure stability and success, families are encouraged to continue working with
existing partners, family office staff and trusted advisors.  

• Process and Transparency: We believe we have an obligation to be transparent in program design and execution.
Our infrastructure and systems create a series of checks and balances that governs all of our efforts, provides superior risk
management and facilitates effective communication.  

• Value: Our fees are based upon the services we deliver and are not dependent upon assets under management. In most
instances, we can provide an increased level of service at a lower cost than your current provider.
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