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FEATURED ARTICLE
One way UHNW families are improving the odds for new members: in-family education
When it comes to educating new family members, money is only part of the story. Financial know-how matters, of course, but as children marry and families grow, there’s another question to answer: How do you pass along a family’s history, values and way of making decisions?
Enterprising families are responding with a sort of cultural education, which advisors say leaves new family members better equipped to handle both the emotional and financial complexity that comes with joining an ultra-high-net-worth family. Making an effort to share family values can help keep the family, its finances and legacy intact.
How can wealthy clans pass along their culture to new members?
It was our our most popular article so far this week.
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MEMBER CONTENT
Thane Stenner: Global mobility as a strategic asset class
“There has long been a degree of geopolitical or economic uncertainty in certain parts of the world, which led many wealthy families to seek additional options as a form of long-term security."
Have wealth, will travel: More wealthy families are seeking global mobility for tax, lifestyle, investment and business purposes, according to top wealth expert Thane Stenner. And they need specialized advice that will help them grasp jurisdictions’ diverse rules, advantages and challenges.
Yet for many high-net-worth Canadians, this is an unexplored facet of potential for their finances, lifestyles and families, Stenner says.
This article is brought to you by Stenner Wealth Partners+.
RECENT ARTICLES
How advisors can help families who ‘don’t feel emotionally safe enough with each other’
In Part 1 last week, the folks at Veritage International told us about the research they conducted. The company interviewed 35 founder-owners and 42 next-gen members of wealthy families to get their perspectives and published a report.
This week, Veritage managing director Francesco Lombardo offers advice to advisors about bridging emotional gaps in this Canadian Family Offices article.
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