Creating That True Legacy

Recent studies and reports from the financial industry show that there will be trillions of dollars passing to the next generation in the coming years and decades. This you may know. They also show that just 19% of those children investors use their parent’s financial professional. This is very interesting to us. Let’s dig into this a little deeper.

At first glance, the discussion of transferring wealth to the next generation can be complex. We get it. We see all types of different scenarios in the people we work with, and as many reasons for those decisions. Some folks were brought up in an atmosphere where “we don’t talk about money”. Others may have complexities that make it difficult. Heck, some people may not know how to successfully initiate the discussion. These are all understandable discussion items, but we don’t believe they really contribute to the topic at hand. It’s not on you. What is in fact the most important piece in the opening paragraph is that our industry has not done a very good job of developing relationships beyond that of their existing clients. The data shows it.

With that said. When we think about true wealth management, it should encompass not only our needs while we are here, and sharing what is most important to us, but also how we want things managed after we are gone. This includes the process of transferring funds to the children, and how they plan for their personal needs. With the complexities of the financial world and all it entails, there are often wealth management firms involved in this process. If there is not a strong relationship on both sides, in our opinion, the opportunity for maximum results is limited.

First, we are grateful for so many of our clients introducing us to their children, grandchildren and extended families at large, as they are the most important people in your lives. Second, we understand that multi-generational planning is a key ingredient in successful wealth management. Finally, our firm is fully engaged and ready to provide our clients with the opportunity to fully maximize all matters related to these processes. This includes not only technical expertise on all levels, but also intentional staffing and ability to merge varying emotional and intellectual insights relating to money.

We want to meet with you and those people in your life that you consider your legacy. Let’s allow you to share your story, break through anything that has been holding back maximum success in your family relating to money, and build a solid foundation for your legacy and those that come after you. We’re ready for you. Give us a call.

Investing involves risk. No investment strategy can guarantee positive results. Loss, including loss of principal, may occur. Material discussed is meant to provide general information and it is not to be construed as specific investment, tax or legal advice. Keep in mind that current and historical facts may not be indicative of future results. Diversification is an investment strategy that can help manage risk within a portfolio, but it does not guarantee profits or protect against loss in declining markets.

This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. (C) Twenty Over Ten