How to get your family on the same page for better wealth management



There are very few families who properly prepare for the intergenerational preservation and creation of wealth. As part of your legacy it is important to structure the transition of your wealth so that both its distribution and investments continue to be optimised to benefit your family. As wealth managers we understand that in most cases, when we manage wealth pathways for our client, we are managing legacies for the long-term benefit of their family too - so over the fullness of time, their needs, thoughts and goals need to be considered as part of a family wealth plan.

Step One on the Absolute Wealth Advisers Family Wealth Pathway is to develop a clear set of values and guidelines for distribution, investment and lending of funds, which will provide all family members with a deep understanding of their own access to, and responsibilities for the family wealth pool. This process helps to create a shared sense of purpose and a collective sense of what is most important to your family.

Creating a family mission statement provides a uniquely powerful opportunity for families to come together to discuss basic, foundational questions: