Private Wealth vs. Family Wealth: A Holistic Approach to Sustaining Generational Wealth

While it is essential to employ the best investment managers, accountants, attorneys, and experts to guard the private wealth, from a multi-generational perspective, it is crucial to think beyond the private wealth, and incorporate the family wealth. This shift is a holistic approach that prepares the human capital, enhances the intellectual capital, and builds the appropriate governance framework. The result will foster clearer communication among family members, stronger family cohesiveness, and well-prepared heirs who are better positioned to govern the family enterprise.