Manhattan Reborn 1978

new York.

Early morning~

The home of Malkin Sidrich Sr., Queens.

Malkin Sr.'s wife, Sena, and eldest daughter, Manqi, were in the kitchen preparing the family's last breakfast before leaving New York for Houston.

Manqi was standing by the window. When she finished making the cheese roll in her hand and was about to give it to her mother, she suddenly noticed a ray of morning light shining on her face from the window.

She stopped her movements involuntarily, looked up and quietly watched the golden red sun rising in the distance, gradually becoming a little dazed.

"Manchi?"

"..Ah? What's wrong, mom?"

"..." Sena's mother looked at her daughter speechlessly and couldn't help but sigh.

"The kids should be awake by now, go check them out, I'll take care of the rest..."

"Okay." Manqi looked back at the golden morning light with some nostalgia, took off her apron and walked out of the kitchen.

Sena turned around and silently looked at her eldest daughter Manqi, sighing with a very complicated look in her eyes.

"Mom!" Just as Sena's hands moved slowly and she was thinking about something, Polly led David and rushed in from outside, pushing the door open and shouting.

"Now that you're here, I'm in the kitchen. Breakfast will be ready soon."

"Oh~ I'll go upstairs to see the children first." After putting down the things in her hands, Polly ran into the kitchen and kissed Sena's mother.

David had two dark circles under his eyes. He walked up to Sena's mother with a smile, looked into her eyes carefully and asked in a low voice.

"what happened?"

"Are we late?"

"No." Sena's mother put her hand on David's shoulder and whispered with a twinkling look in her eyes.

"Since Manqi went out with you, she has become dazed and like a different person..."

"Now, apart from taking care of the children, she spends her days reading a book or sitting somewhere in a daze."

"I want to chat with her, but she always agrees absentmindedly."

"OK, I understand."

"I'll talk to her later!" David took a deep breath, brushed the hair around Sena's mother's ears with his fingertips, and comforted her with a serious expression.

"Well...your dad is waiting for you upstairs, go quickly."

"Okay!" David smiled and hugged Sena's mother and kissed her, then turned around and walked out of the kitchen with brisk steps.

Sena held the door frame with both hands and watched David walk up the stairs. The inexplicable worry in her heart not only did not dissipate, but became even stronger.

She looked back at the morning light coming in through the window and muttered to herself incoherently: "Manqi, please don't be confused!"

. . .

On the second floor, in the study.

When David knocked on the door and came in, old Malkin was smoking a pipe, standing by the wall with one hand on his waist and looking up at the map of the United States.

"Dad, I'm coming."

“Well, take a seat,” Old Malkin said with a smile as he waved to David and walked over to the bedside, opening the curtains to let in a beam of bright golden morning light.

"Rudy will be here soon."

"Where's Polly?"

"She's gone to see the children, and will be here soon."

"Haha~" Old Malkin smiled and walked to the desk and sat down. He habitually took out paper and pen from the drawer to take notes and joked.

"Everyone hasn't arrived yet, so it should be in time for me to start preparing now, right?"

"Uh... hehe~" David grinned and took out a folded file bag from the pocket of his windbreaker.

"You don't need to take notes this time. I'm already prepared."

"Oh?"

Old Malkin took the file bag, opened it, pulled out several handwritten documents and several printed documents, and after carefully flipping through a few pages, he asked with a surprised expression.

"This time you want to..."

"Yes!"

David picked up the prepared coffee pot and cup from the side, poured himself a cup, and explained.

"Based on our country's special legal framework, family trusts can achieve the separation and unification of multiple rights such as control, ownership, management and income rights of family assets."

"From what I have learned so far, the family management models of the Morgan family and the Rockefeller family are very different."

"The Rockefeller family uses a combination of family office and family trust, employing an elite management team of more than 100 people to manage the amazing wealth passed down by their family."

"The so-called family office and family trust management rights within the Morgan family are based on the personal foundation of Morgan Sr., Julie and Whistler, and are maintained and managed by the joint efforts of the three."

"It seems that these two models have their own advantages and disadvantages now."

“But from my personal perspective, I prefer the way the Rockefellers managed their wealth.”

David took a sip of the coffee cup, looked into old Malkin's thoughtful eyes, and spoke slowly.

“The concept of family trust asset allocation has now become the core and mainstream of the industry.”

“Not putting all your eggs in one basket has become a generally accepted investment logic.”

“So let professionals do professional things.”

"The deeper meaning of this sentence is that family trusts must rely on the asset allocation concept represented by Modern Portfolio Theory (MPT), and according to the established investment goals, determine the reasonable allocation of funds in different markets, different asset categories, different investment styles, and different investment periods and methods."

"By doing so, we can not only strive to seek the highest return under a certain return target, but also reduce investment risks, or seek the highest return under a certain risk expectation target."

"And as the trustee of the family trust, you and your family members can also participate in the formulation of investment strategies."

"No! Thanks." Old Malkin waved his hand to interrupt David and said with a smile.

"I will explain the reason to them."

"As for asking them to get involved, let's forget about it."

"...Okay!" When David heard old Malkin's decisive statement, the last taut string in his heart slowly relaxed.

He paused for a few seconds and continued, "Wealth management is only the core function of family trust as a financial tool."

“It also has basic functions such as asset isolation, wealth inheritance, marriage wealth planning, tax planning and privacy protection.”

"Moreover, trust is the only financial instrument that can span the three major areas of money market, capital market and industrial investment."

“That’s why it’s favored by countless super-rich families!”

"But from a more professional perspective, a private trust would be more suitable for the current Sidrich family."

"private?"

"Is it very different from a family trust?" Old Malkin asked, picking up a pen and writing the word on a piece of white paper.

David put down his coffee cup, raised his hand, pointed at the documents he brought, and smiled.