Four key wealth transfer considerations
- Have investors talked with heirs about their intentions?
- Has their family defined a purpose for family wealth?
- Does the investor’s family make collective decisions effectively?
- Are their heirs prepared to manage the family wealth?
Donor-advised funds
A flexible tool that supports family giving, joint decision-making and wealth education
Donor-advised funds (DAFs) may be best known as a tax-efficient vehicle for donating assets to charitable organizations. They are also a valuable educational tool for families engaged in the wealth transfer planning process.
The business owner’s transition checklist
Transitioning a business enterprise is one of life’s most consequential financial events. This checklist can help make sure business owners and their advisors have covered all the bases. Items for review include:
- Assembling a transition team
- Obtaining a professional valuation
- Evaluating and addressing governance risks
- Optimizing the post-transition investment strategy
Wealth education: from piggy banks to investment portfolios
An age-based approach for instilling sound wealth stewardship over time
Wealth doesn’t naturally endure across generations. Children need to be taught to effectively manage money. Since that kind of education isn’t taught in most schools, the responsibility primarily falls to parents, grandparents and other mentors. All children can benefit from financial education. And if you are planning to transfer assets to the next generation, teaching them how and why to be good stewards of the family wealth is even more important.
Although some financial decisions will have more significant and long-term consequences than others, generally it’s the sum of all the choices children make over many years that will determine how well they fare with managing wealth.
By starting early to educate children about money, you can establish a foundation of basic—but critical—knowledge they can continue to build and draw on for the rest of their lives.
Top wealth transfer questions for business owners today
Unlike other assets, your family business is more than a financial holding. It likely represents a significant portion of your overall wealth, and reflects your priorities and beliefs. You and your family members may have strong feelings and opinions about the business, which is why communication and alignment are key.
If you are planning to transfer wealth to the next generation, it’s critical to account for the unique characteristics and complexities of your family business. Use these five questions to get started on your business transfer plans.
The next generation of wealth transfer
An action plan for passing on what matters most
An interactive workbook is designed to guide investors and their advisors through the wealth planning process, using a rational and scalable framework.
Engaging the future high net worth client
The future high net worth client is looking for more than just a product recommendation
Future high net worth clients are increasingly looking to their advisor to proactively “explain how recommended products work,” according to our proprietary generational investing study. They want their advisor to anticipate their needs and offer investment education that empowers confident, informed decisions.