Family Wealth Dynamics Results

Sample Graphic Summary

This is a sample of the Graphic Summary for the Family Legacy Report

Sample Demographic Bar Chart

This is a sample of one of the 12 demographic bar graphs in the Legacy Roadmap Report

The successful continuity and growth of your family wealth depends on two interacting factors;first, the competency of your family and or advisors to manage your wealth, a market conditions that provide opportunities for income and growth. Families of wealth, through their Family Office or other structures, must select capable wealth managers, and be clear about their goals and objectives. For the continuity of family wealth, the family as a whole must agree on the mission, strategy and purpose for wealth — not only financial wealth, but also maximizing their “human capital” in developing competent and responsible family members. Your family’s score concerning your Wealth Strategy indicates that the family wealth may not be be adequately developed to position wealth for future growth. Sometimes fair ratings on Wealth Strategy occur because of external changes in the marketplace which require a reassessment of the strategies that worked in the past. Also, families often must re-evaluate Wealth Strategy as the ages and corresponding levels of risk change in the family. Regularly re-evaluating the family Wealth Strategy is particular important in setting the stage for a transition between generations and protecting the retirement security of the senior generation.

Actions to Consider:

  • Hold a family meeting to identify the strengths and weaknesses of your current Wealth Strategy, to make sure all family “stakeholders” share a common approach.
  • Work closely with your wealth management advisors to access their perspective on the best strategies given current and future market conditions.
  • Discuss the financial security issues for the senior generation and pay particular attention to their financial planning needs for retirement. Often the senior generation wants to protect its financial security, and not take risks that they took in the past.