Intergenerational Wealth Planning

Intergenerational Wealth Planning Explained

Research from Manchester University showed that across 3200 families over 20 years that 7 in 10 families lost their fortune by the second generation and 9 in 10 had lost it by the third generation.

“Shirtsleeves to shirtsleeves in three generations” – Andrew Carnegie

Your trusted family adviser

We encourage conversations across the generations and often manage the finances for more than one generation of a family. Our style is highly educational, some clients also include their children in annual meetings. This helps everyone understand what their goals are and how to realise them. The resultant purposefulness of money that comes as a result, reduces the risk of wealth being squandered.

What does Intergenerational planning look like

Intergenerational planning can work both ways. We have experience in supporting younger clients in engaging with their parents and grandparents who want to support in helping their children and grandchildren. This can come in many forms, here are a few examples:

Helping Older Relatives:

• Helping with financial decision making.
• Taking extra time to understand their worries and their concerns.
• Discussing future care needs and making sure the necessary legal documents are in place should someone lose capacity.
• Reviewing and monitoring their investments, pensions, cash savings in a way that makes it easier to source information as and when it’s required.
• Encouraging those who can, to enjoy their wealth and pursue activities, travel and make the most of life.

Helping Younger Relatives:

• Exposing them to investments in a safe and simple way, with out being distracted by exciting but dangerous and risky alternatives.
• Teaching the benefits of budgeting and prudent money management.
• School or university fee planning.
• Assisting in helping them buy a property
• Ensuring that younger generations are financially protected if the worst was to happen.