Wealth Matters Consulting, we’re always keeping an eye on the latest shifts in wealth management.
Recently, Carly Augeri, our director of strategy and client experience, attended the Opal Family Office Private Wealth Legacy Summit in the Hamptons. Although topics like investment portfolios and private credit risks were still on the agenda, the summit emphasized a move from purely financial advice to a focus on family dynamics and personal connections.
Unlike traditional summits, this event included family members as both attendees and key contributors, and the conversations were about more than just investments and market trends. Perspectives from UHNW families during the discussions and panels highlighted what matters most to them in managing their relationships and wealth across generations.
Key topics that families focused on during the summit:
- Family Governance: The importance of establishing rules and structures for managing wealth and making decisions.
- Intergenerational Communication: Parents and adult children openly discussed when and how to introduce family wealth, offering candid insights into this sensitive process.
- Equitable Treatment: Families grappled with fair distribution of wealth across complex family structures, including stepchildren and varying levels of involvement.
- Next-Generation Engagement: Sessions emphasized connecting younger members to the purpose behind their wealth through philanthropy and impact investing.
- Women in Wealth: There’s growing interest in supporting the next generation of women in finance amid a significant wealth transfer.
These topics underscore the importance of addressing the personal and emotional aspects of wealth management. So, regarding content and marketing for wealth management firms, this means creating content that goes beyond just numbers. To align with these emerging priorities, consider:
- Sharing case studies on successful family wealth discussions
- Offering guidance on creating fair and equitable estate plans
- Including strategies for engaging younger generations in family philanthropy
- Showcasing women leaders in wealth management and their unique perspectives
By focusing on these human elements and prioritizing the deeper connections that families value, wealth management firms can position themselves as trusted partners in both the financial and personal aspects of their clients’ lives.
We’re here to help you connect with your clients on a personal level. Ready to engage?