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Behaviorally Smart Money

Sep 30, 2017

On this edition Hugh joins David to talk about the concept of Family Continuity as seen through the DNA Behavior framework…


Some highlights include:


 1. What is Family Continuity?


Factoids driving Family Continuity or its failure:

- 60% of transition failures caused by a communication breakdown

- 25% failures in family wealth transfer caused by inadequately prepared heirs

- Only 30% of family business survive to the 2nd generation

- Only 4% to the 3rd generation…



- 84% of wealthy parents believe their children would benefit from meetings with financial advisors

- but 59% have never introduced their children to the advisors managing their assets 

2. What issues get in the way of Family Continuity?

- Discuss family member expectations & perceptions - (every person is different)

- How will family members respond to the wealth transfer decisions being made?

- How do we (FA’s) manage them?

3. Wealth Mentor vs. Family Consultant.

How can an independent Facilitator guide the family?

4. What is the Family Continuity Planning Process? Walk us through Financial DNA Group (Family) Reporting

5.  What are best practice guidelines?