More Than Money: A Guide To Sustaining Wealth and Preserving the Family (Bloomberg)

ISBN: 1119264707

Author: Cole, Michael A.

Condition: New

A new, more comprehensive approach to long-term family wealth managementMore Than Money provides a high-level, integrated approach to preserving both financial resources and family harmony. Research has shown a failure rate of 70 percent in long-term multigenerational wealth management, and contrary to popular assumption, only five percent of that failure is due to bad investment, poor tax planning, or inadequate performance by legal and financial advisors. The number-one reason family wealth management fails is the family itself; poor communication, lack of trust, divergent visions, and a failure to prepare succeeding generations will tear down the resources the family has worked so hard to build. Traditional wealth management cannot fix this. Instead, this book offers a fresh approach that integrates strategic and tactical wealth management to align the familys assets with the family members. With helpful tools and advice drawn from a real-world understanding of family complexities, youll improve your ability to preserve your familys resources over multiple generations.With an experts perspective on the real forces behind successful family wealth management, this book provides a clear model and a practical roadmap for long-term financial preservation. Develop a shared family vision and mission Improve communication and trust among members Merge strategic and tactical planning Ensure the longevity of your familys wealthThe wealth management sphere tends to focus on taxes, investments, banking, and estate planning, but little thought is given to the people themselves-this overlooks the fact that individual family members are the most critical factor in multigenerational wealth management, and fails to provide solutions. More Than Money merges traditional strategies with family dynamics, communication, governance, and preparation to help your resources last for generations to come.