From Bloomberg: They call it “money camp.” Twice a week, 6-
to 11-year-old scions of wealthy families take classes on being rich. They
compete to corner commodities markets in Pit, the raucous Parker Brothers card
game, and take part in a workshop called “business in a box,” examining
products that aren’t obvious gold mines, such as the packaging on Apple Inc.’s
iPhone rather than the phone itself.
It’s all part of managing money for the wealthiest families,
says Katherine Lintz, founder of Clayton, Missouri- based Financial Management
Partners, which runs the camp for the children of clients. Supplying the
families with good stock picks and a wily tax strategy isn’t enough anymore.
These days, it’s about applying the human touch, she says.
Lintz, 58, is on to something. Her 22-year-old firm was No.
2 among the fastest-growing multifamily offices in the second annual Bloomberg
Markets ranking of companies that manage affairs for dynastic clans, Bloomberg
Markets magazine reports in its September issue. The assets that FMP supervises
grew 30 percent to $2.6 billion as of Dec. 31, just behind Signature, a
Norfolk, Virginia-based family office that expanded 36 percent in 2011 to $3.6
billion….
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