Family Wealth Mentor

Family Wealth Challenges

The creation of family wealth takes years of dedication, sacrifice and hard work.  Because of this, no family wants to be in a position where they need to create their wealth twice. Instead, they are desperately seeking the financial peace of mind that comes from knowing that their interests are being placed ahead of their professional advisors, and that their hard-earned wealth is being prudently stewarded in a manner that makes it sustainable for their lifestyle, family legacy and philanthropic aspirations.

The challenge for many affluent families, though, is that wealth is not self-perpetuating.  Without proper advice, planning & communication, family wealth is often eroded within 2 – 3 generations.  The British proverb, “Clogs to clogs in three generations” is a global phenomenon that appears in every culture.

Research by an independent US family advisory firm studied approximately 2,500 US families, over a twenty-year period, who had owned, sold a business, and gone through a generational wealth transition. The results of this study were that only 30% of family wealth transitions were successful. In other words, 70% of family wealth transitions failed.

Family Wealth Services

For the first 15 years of my career, I learned my profession & developed a specialty in the design, building and operation of family asset management programs working for large, Bay Street, wealth management organizations.

Although I’m grateful for the diverse experiences, mentorships and professional relationships that these firms afforded me, in 2004 I chose to leave my Bay Street career and harness my professional expertise in the stewardship of family wealth as a mentor to both affluent families & wealth management businesses such as HighView Financial Group.

 

For more information, please contact me.