Jonathan Forster maintains a unique nationwide law practice in BakerHostetler's Private Wealth Group and serves as the firm's Northeast Private Wealth Coordinator. His entrepreneurial background, coupled with his life insurance and investment management history, provide him with a different viewpoint to managing family legacies.
Jonathan’s approach to providing legacy management for successful families was shaped early on in his career when he began working for EF Hutton as an investment manager and life insurance professional in the 1980s. Following law school, he served as counsel to a multi-family office and its wealthiest clients, becoming intrigued by the amount of time and numerous disciplines required by families to manage their legacies, and the systematic, disciplined approach they employed. Jonathan realized the importance of having a financially integrated, proactive system to managing legacies.
As a result, Jonathan developed a four-step proprietary system, integrating multiple financial disciplines using financial analytics to identify lifestyle versus legacy capital; manage current capital risks and future exposure; map family resource allocations and tax exposure; and link technology to aggregate client data and offer improved client reporting. Jonathan employs a management process that utilizes regular oversight and, ultimately, a family summit: a full-on educational roundtable to develop best ideas and educate the next generation. This process and its four phases -- when coordinated with a clear mission and benchmarking -- provide a far greater platform for success. Families with direction, purpose and vision, along with leadership and execution, realize their goals. His practice group now uses an advanced financial technology platform to actively manage 23 family legacies.