How Founders Can Unlock Liquidity
Advisors with founder clients often face the same problem described here: paper wealth in a concentrated or private position with little cash to deploy. The episode shows how one firm frames the conversation, from borrowing against a portfolio to options overlays and legacy planning.
Summary
By the markets & outlook deskAn episode of Morgan Stanley's What Should I Do with My Money? features tech entrepreneur Kelsey Falter and her Morgan Stanley financial advisor, Ara, discussing what happens when wealth is tied up in private stock after a startup exit. They cover using assets as collateral rather than selling shares, managing concentrated positions through the firm's "HOPES" framework, options strategies for income and risk reduction, and estate planning including custodial accounts, 529 plans and trusts.
- Kelsey Falter describes having wealth tied up in private stock after selling her startup, with no liquidity for her next venture.
- The advisor and client discuss using portfolio assets as collateral for a line of credit instead of selling shares.
- The episode walks through options, including puts, covered calls and prepaid forwards, and a managed options strategy for income and risk reduction.
- Legacy planning topics include custodial accounts, 529 plans and trusts.
Chapters
From the publisher’s description| Time | Chapter | Length |
|---|---|---|
| Founder Wealth Locked in Private Company Shares | 1 min | |
| Meet Kelsey Falter, Forbes 30 Under 30 Tech Entrepreneur | 3 min | |
| Portfolio Review, Cash, Exchange Fund and Helium Thesis | 2 min | |
| Sell or Borrow? Using Your Portfolio for a Line of Credit | 3 min | |
| How Much to Put in Gold, Commodities and Alternatives | 5 min | |
| HOPES Framework to Diversify a Concentrated Stock Position | 2 min | |
| Options Explained, Puts, Covered Calls and Prepaid Forwards | 1 min | |
| Managed Options Strategy for Income and Risk Reduction | 2 min | |
| Planned Giving and Tax-Smart Selling Strategies | 1 min | |
| Legacy Planning, Custodial Accounts, 529 Plans and Trusts | 5 min |
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Videos and podcasts are embedded from their publishers. Selections and summaries are editorial and are not investment advice.