Sustaining Family Wealth Beyond Three Generations

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Sustaining
NxGen Wealth

The major strategic risk for families and family wealth is exposure to the Chinese Proverb: "Shirtsleeves to Shirtsleeves in Three Generations"

​Recent years have seen a transformation of the global wealth landscape. A quarter of a century ago, a large proportion of the world’s wealthiest individuals owed their riches to inheritance. Today, entrepreneurship and business ownership have exploded as sources of wealth. Wealth has also become more globally distributed, and mobile. Technology and globalisation have enabled business ideas to be scaled and replicated at unprecedented speed, presenting ambitious business owners with the opportunity to grow their business — and wealth — extremely quickly.
Such a changing landscape is prompting a growing number of wealthy individuals to think more carefully about the purpose of their wealth. This is taking wealth management away from a narrow focus on optimising risk and return on investments toward a more holistic perspective on how to apply it across the full spectrum of the individual or family’s long-term goals and objectives.
This means thinking not only about investment but also about legacy, intergenerational wealth transfer and philanthropy. These concepts are increasingly becoming engrained in the way in which many wealthy families think about planning, in both developed and emerging markets. In particular, there is a clear link between the rise of entrepreneurship and a growing focus on more active, engaged philanthropy that draws on business skills and time commitment, as well as financial donations. Sharing wealth with family, friends and charitable organisations is only one part of the wealth journey. But as both research and experience are increasingly showing, it can be among the most fulfilling. For this reason, wealth should be considered as much about the qualitative aspects as it is about the quantitative.

Dispelling the myth: "Shirtsleeves to Shirtsleeves in Three Generations"

http://www.genspring.com/about/thinking/publishing/shirtsleeves-shirtsleeves-beating-odds-sustaining-family-wealth/

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Family Wealth Transitions

impair the successful transfer of multi-generational wealth. These include: poor communication within the family; lack of an established governance system within the family; failure to properly prepare heirs for the responsibilities of inherited wealth; and the lack of a strategic plan regarding the family’s wealth. ​

Communication & Trust
Preparing The Rising Generation
​Strategic Planning

Legacy & Philanthropy

• Social Enterprise
Impact Investing
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Entrepreneurial Wealth

Strategic Risk Management

There are many internal and external factors that create opportunity for risks to emerge such as:

• ​Reputational risk
• Privacy & Secuirty
• Wealth Transitions-Transfers

For Trusted Advisors

• Professional Advisors
• Personnes de Confiance
• Mastery of The Art
• Source Alignment