Multi-generational families face a number of challenges when it comes to preserving their wealth for the generations to follow.  But the single biggest challenge seems to be complexity.  

  • In generations: first, second, third or more generations with sometimes differing values and goals.
  • In how the wealth is structured: complicated asset and legal structures, significant number of legal entities and investment accounts.
  • In advisors: multiple professional advisors working independent of each other.
  • In visibility: understanding if the family wealth is aligned with their goals. 

With all of this complexity, the risk is very real that wealthy families might go from shirtsleeves to shirtsleeves in 3 generations.  The first generation creates the wealth, the wealth is consumed by the second generation, and the third is starting all over again.  We believe there is a way to reduce the complexities facing many families.  You can:

  • Take control of the family wealth by taking prudent and logical steps to preserve it for many generations.
  • Unify your family around a common vision for how the wealth should be managed.
  • Create a family enterprise where younger generations are prepared to take leadership roles in the future.
  • Coordinate and unite your advisors around a shared vision and strategy.
  • Gain visibility into every aspect of the family enterprise via simple-to-understand dashboards.
  • Bring harmony and peace to the family.

To accomplish these goals, we recommend 5 key strategies: 

  1. View your Family on an Enterprise Basis
  2. Gain buy in from Key Family Members and Stakeholders
  3. Analyze Family Structures
  4. Develop Strategies to Align Family Wealth
  5. Build a flexible Family Enterprise Infrastructure 

This brief webinar provides detailed suggestions on how families can achieve these goals.  Robert Legan, Senior VP and leader of the Whitnell Family Office Services group, and Lisa Olson, VP, share insights based on their many years of working with wealthy families.