Generational Wealth Management
Generational Wealth Management, by Lisa Gray, author of the best-selling The New Family Office, offers a new view of wealth for families who wish to preserve their heritage and to extend the benefits of the gift of wealth for five generations and beyond.
It is a guidebook for families and advisors alike, healing broken family relationships around the wealth and illuminating gaps in the family client-advisory relationship which threaten the achievement of family wealth management goals.
The book broadens the scope of wealth management and more directly aligns it with the family's authenticity. The influence of generational and behavioural biases on the wealth management process determines families' ability to circumvent the fulfillment of the 'Rags to riches to rags in three generations' proverb.
It is an essential expose on the elements that sabotage family success but it does not leave families there; it leads them toward a path where they are more optimally served by their wealth and by the advisors who guide them.