As more wealth management firms are emphasizing non-financial services to target high- and ultra high-net-worth clients, a new report recommends the benefits of family foundations.

“You’re seeing greater awareness among financial advisors on how important it is to focus on qualitative issues around family wealth management,” said Scott Winget, senior managing director of wealth impact planning for the report's author, Ascent Private Capital Management -- the wealth division of US Bank, focused on clients with at least $50 million in investable assets or net worth.

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