PwC US Releases 2014 Guide to Tax and Wealth Management

NEW YORK, Oct. 30, 2013 – PwC US released today a new edition of Managing Your Wealth: Guide to Tax and Wealth Management, to help high-net-worth individuals, families, and business owners better understand and play an active role in growing and preserving their wealth.

The updated Guide incorporates the latest legal, economic, and legislative developments impacting wealth plans, including tax changes that went into effect at the beginning of 2013. New to this year's edition is a chapter on cross-border considerations, reflecting the international diversity of wealthy families and the global interconnectedness of economies and markets.

“Five years have elapsed since the financial crisis. For high-net-worth individuals and families, the biggest lesson has been that no one can afford to let their wealth management run on autopilot,” says Brittney Saks, PwC’s US leader for the Personal Financial Services practice and the Guide’s editor-in-chief.  "The tax changes that took effect in January, coupled with economic and political volatility at home and around the world, means that now more than ever, high-net-worth individuals need to be actively engaged in wealth management decisions.”

Beyond tax law changes at home, there is also the complexity of navigating tax issues abroad. Tax and regulatory changes in other countries may affect a family’s wealth management strategy. Globalization is therefore an increasingly important factor for family's to address in discussions with their advisory team.

“Cross-border investments and transactions may seem standard, but they could entail unforeseen challenges in tax reporting,” explains Saks. “It’s essential that international families, globally diversified investors, and other US taxpayers with interests in foreign entities thoroughly understand their reporting responsibilities.”

Equally important is communicating wealth management strategies across generations to help ensure that the family’s wealth is protected for the long term and viewed as a collective responsibility.

“Many of the issues discussed in this publication merit attention beyond tax season, such as business succession and family meetings," notes Saks. "Ideally, our readers will use the Guide year-round to foster trusted relationships with their advisors, engaging them in an open and informed dialogue about wealth management goals for the near and long term.”

Available for free download at, and through the recently launched PwC 365™ app, this latest edition of the new Guide explains complex wealth management strategies without resorting to technical language. Like previous editions, this year's Guide is supported by an online resource center, which allows users to download specific chapters or the full book, view video interviews with partners on important financial planning topics, and gain access to other PwC resources regarding personal finance and wealth management. Together, the Guide, online resource center, and digital app serve as a reference for overall wealth management planning, with particular focus on the following areas:

  • Effective tax planning
  • Managing your investments
  • Charitable giving
  • Estate and gift planning
  • Business succession
  • Family meetings
  • Family offices
  • Cross-border considerations
  • Risk management

About PwC's Private Company Services practice

Located in all major US markets, PwC’s Private Company Services (PCS) is a national practice comprised of more than 170 partners who provide customized tax, audit and advisory services to private companies, their owners and high net worth individuals. More than 60 percent of America’s largest private companies are PCS clients.(1) They span a broad scope of sectors and industries ranging from manufacturing to retail to industrial to professional services.

A hallmark of PCS is a robust thought leadership program that provides clients with timely, thought-provoking information to help manage and grow their businesses and wealth.

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(1) Forbes 2012 List of America's Largest Private Companies

About the Guide's Author

Brittney Saks is the US Leader of PwC's Personal Financial Services Practice (PFS). Brittney also co-leads the PFS practice in Chicago, where she is the lead engagement partner and trusted adviser to some of that city's largest and most complex family offices.

Brittney leads a group of over 300 experienced tax and wealth management professionals, specializing in designing strategies to help business owners, corporate executives, and high-net-worth families build value, manage risk, and preserve and enhance their wealth. For over 20 years, she has advised clients on income tax, wealth transfer, and charitable giving, as well as helped them evaluate and implement strategies for equity-based compensation, investments, business succession, and retirement planning.

Brittney received both the Personal Financial Specialist accreditation and the Certified Public Accountant designation. She has a Bachelor of Science degree in accounting from the University of Illinois at Urbana-Champaign, where she graduated with highest honors. She also has her Masters in Taxation from DePaul University, where she received special distinction. Brittney is a member of the AICPA (Tax and Personal Financial Planning Division) and the Illinois CPA Society.

Brittney is the editor-in-chief of PwC's annual Guide to Tax and Wealth Management and has authored numerous publications over the years, all focusing on issues affecting high-net-worth families. Brittney is also regularly consulted and interviewed by the New York Times, The Wall Street Journal, Chicago Tribune, and numerous other media outlets, such as the Fox Business channel.

Brittney previously completed a four-year term on the AICPA Executive Personal Financial Planning committee. In addition, she devotes her time to the United Way's Women's Leadership Giving Council and serves on the Corporate Board for the Boys and Girls Club of Chicago.

About PwC US

PwC US helps organizations and individuals create the value they're looking for. We're a member of the PwC network of firms in 157 countries with more than 184,000 people. We're committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at Gain customized access to our insights by downloading our thought leadership app: PwC's 365™ Advancing business thinking every day.

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Colleen Krieger
Edelman for PwC
Tel: +1 (212) 277-3725