Welcome to Family Wealth Ways—ways of addressing the problems and opportunities presented by significant wealth.
This site will help you if you are a:
- Parent concerned about the impact of your wealth on your family
- Mother or father trying to decide how much to support your child
- Business owner struggling to prepare your successors
- Son or daughter of a successful parent trying to blaze your own trail in life
- Brother or sister arguing over assets with your siblings
- Husband or wife trying to manage your family’s assets after your spouse is gone
Family Wealth Ways
The proven path to preserving long-term wealth
What I call Family Wealth Ways are exactly that—ways to develop and preserve family wealth for generations to come.
Family Wealth Ways are rooted in practices drawn from family governance, family wealth dynamics, sound succession planning, and family-centered estate planning services. As an evangelist for those services, I have simplified their core concepts and practices to make them more accessible and easier… >> read more >>
7 Habits that Destroy Family Wealth
These habits pose greater dangers than high taxes or low returns
Habits that destroy family wealth or a family business come naturally to many wealth creators and business owners. Some of the habits I cover in this post can emerge over time as one becomes more successful and more protective of their assets. Yet most of them are driven by a wealth creator’s ego and desire for control.
That makes sense, if you think about it. Innovators, entrepreneurs… >> read more >>
Family Dynamics 101
What’s really going on around family wealth?
The term family dynamics is used by family wealth advisors more often than it is explained. Usually they use it to mean things that go wrong in a family due to personalities, relationships, and interactions.
I’ve heard many advisors say, “Things fell apart because of family dynamics.”
Well, which family dynamics? What does “family dynamics” even mean? >> read more >>
Let’s Take the Nasty Out of Dynasty ™
If you are an advisor to HNW or UHNW families, you can help them to preserve their multigenerational wealth with Family Wealth Ways.
These resources make family wealth preservation practices easy for advisors and clients to use. You can use one or two ideas or mechanisms or adopt a suite of services tailored to your needs.
Here’s what’s in it for you:
- Closer, more productive relationships with client families
- Stronger marketplace differentiation for your services and brand
- Improved asset retention upon wealth transfers
- Enhanced financial, tax, and estate planning services
Multigenerational wealth preservation practices work. But current methods of bringing them to families of wealth are not working. We need to make them easier and more accessible, and you’ll find a good start right here.
Click here to learn about (or to take) my free one-session course for advisors.
Click here to get your copy of my book Family-Proof Your Wealth.
Click here to be notified when I issue a new blog post, which will be about once a week.
4 Misconceptions Advisors Have about Family Governance
Investment and wealth advisors who work with high net worth and ultra-high net worth clients are often uninformed—or, worse, misinformed—about services related to family governance, family wealth dynamics, and family financial education. (Here I refer to those services… >> read more >>
The Case for Family Wealth Preservation Services in Wealth Management
As I’ve noted elsewhere, family governance and allied services are misunderstood by many advisors to high net worth (HNW) individuals.
This misunderstanding, along with the costs associated with on-site family meetings and retreats, has confined… >> read more >>
Family Dynamics 101
People working in the areas of family governance, family wealth dynamics, and family financial education are among those with the most integrity, seriousness of purpose, knowledge of their fields, and focus on their clients’ best interests that I know. To me, they are among the unsung heroes of capitalism. >> read more >>