Purposeful Next-Gen Collaboration

/Purposeful Next-Gen Collaboration

How Current Generations (All of Them!) Impact Family Wealth, Business, and Philanthropy

Many conversations about generations focus on communication, estate planning & legacy, or issues in the workplace. Although these certainly are important, few people talk about why generational perspectives are so impactful, why we should pay attention to them, and how we can use them as tools to facilitate family wealth thriving, corporate success, and business growth for advisors. Our purpose is to initiate vital conversation around these aspects and to make a clearer connection between generational biases and family wealth management; family business or corporate efficiency, productivity, and ultimate success; and the service quality advisors provide their clients, which directly affects business growth.

By | January 24th, 2017|Purposeful Next-Gen Collaboration|

Wide-eyed, Unprepared, and Overwhelmed: A Perspective on the Mind of a Young Inheritor

Date: October 18, 2016 Guest Speaker: Kristen Heaney, MSW, BCC, Legacy Life Coaching, LLC As advisors, we aim to help client families plan for the unexpected, protecting their wealth from outcomes such as early death, bad marriages, addiction and more. It’s impossible to know, however, just how these plans will play out in real life when the worst case scenario unfolds. The legal and financial plans of Kristen Heaney’s family were put to the test when her father, a 49-year-old successful business owner was diagnosed with terminal cancer.  Still in college at the time of her father’s death just 6 weeks post-diagnosis, Kristen Heaney was completely unprepared to handle the substantial wealth her divorced father would pass on to her. Their lifestyle had been modest, and all signs of the magnitude of the wealth were well below the radar. In the midst of just graduating from college, and enrolling in graduate school to become a social worker at age 21, she found herself catapulted into a strange, complex and unfamiliar world filled with family business succession, investments, legal structures, lifestyle choices, relational challenges, and a number of internal adjustments. This session offers a snapshot into the mind of the rising generation as we hear about how she navigated that steep learning curve, and the lessons she learned about herself, the advisory world, and the land of wealth. She highlights the impact of values she grew up with, why and how she came to choose advisors (hint, she fired her father’s advisors), and how she is now raising her own children in ways that she hopes are wealth savvy.

Family Champions: An essential component to overcoming the “shirtsleeves” proverb

Date: September 27, 2016 Guest Speakers: Jamie Traeger-Muney, Ph.D., Founding Principal of Wealth Legacy Group and Kristin Keffeler, MSM, Principal, Illumination360, Dean of Family Sustainability & Empowerment A Family Champion is the family member with the vision to recognize the need to openly dialogue about the wealth, with the ability to motivate family members to do so, and with the skills to help sustain the family relationships during the process. While outside advisors are important to supporting families to overcome this three-generation dictum, we believe that the Family Champion is essential to a family’s long-term success. In this session we discuss how to recognize, cultivate and support the Family Champion in each of your client families.

What Millennials Need from their Family Advisors

Guest Speaker: Ty R. Ashford, Founder, Next Gen Retreats A compilation of experiences from gatherings with millennials around the country and how they are successfully engaging with family advisors. We identify areas of key interests and modes of communication that transcend across the generations to create a more unified management of family wealth.

If Wealth is More than Money, Where is it and How do you Convert it?

Date: July 19, 2016 Guest Speaker: Enette Pauzé, PhD, President & CEO, Level 8 Leadership Institute You are worth more than what is in your bank account or on a balance sheet, and so are your clients. Like you, they struggle to establish their unique value, which can be buried, suppressed and ignored. And if they are not aware of it, they can’t convert it into family wealth. The family mastermind is an essential catalyst for members to realize and harness their individual and collective wealth potential. In this session we will discuss how to help families discover their true priorities, challenges and opportunities in unlocking and transforming their hidden wealth.