Wealth

Have you considered what your relationship with money tells your family?

Everyone has a different inner connection with money. Savers may feel security from saving.

Spenders may need to experience living in the moment. Some people find displays of wealth shameful.

Most wealth conversations focus on accumulation.

However, once you are in a position to transition wealth, it is important to understand how each member of your family connects money with their actions and identity. This the foundation of wealth succession.

Intergenerational Wealth Strategy

“Intergenerational wealth strategy includes investing with the consideration of family dynamics, skills, or interests. We believe in building by quarter century, not quarterly report.”

Carolyn J. Cole

Family

Understanding the personalities, relationships and dynamics of your next generation gives you the advantage of building wealth with family, for family.

How can the family deploy capital to diversify into projects or businesses that advance both the bottom line and the purpose of a family member?

Time

We live in a world built on instant responses and immediate gratification. Wealth strategy is the long-term approach to holistic asset allocation, which takes shape over decades and impacts multiple generations.

Family wealth decisions can be made with the wisdom of thinking beyond quarterly returns and past traditional investment cycles, while incorporating the interests of family members.

Learn

Understanding the differences among financial planning, investment management, and wealth strategy can be a pivotal learning curve in your family’s financial advancement.

Be careful not to confuse investment management with wealth strategy.

Equity or debt investments are used as tactics to advance the family’s objectives.

Intention

In the past, family business and money decisions were likely often made by just one or two people.

Rising generations may not have honed the instincts of wealth founders.

Part of your wealth strategy may be to help them learn your decision-making processes in a deliberate way.