Redefining Wealth in Business Families

The current next-generation family members are changing the way families view wealth, no longer focusing on creating wealth for wealth’s sake. It’s still about creating wealth, but now more questions are being asked about, ‘how can we use this wealth to improve society?’ and less about ‘what we can do to just keep building it.’ This process is referred to as a ‘wealth refresh,’ and it underscores a new era of leveraging human capital, brand and reputation as powerful social capital assets, and adopting a world view of strategic assets as the family itself redefines wealth and addresses the purpose for the wealth.