Resilience & Recovery in Unprecedented Times
Overview
In the face of a Global Pandemic and the economic and social volatility of 2020, principles of resilience and recovery were in the forefront of our thinking about wealth management and generational succession. Throughout history, these principles have been at the core of wealth creation and wealth transfer. Capacity to identify change, respond to challenges, take action and learn from experience have been essential to sustain wealth across generations. Reflecting on history, personal experience and examples from families of unique wealth allow us to identify lessons that enhance our skill and capacity to recover from setbacks, adapt to change and lead in the face of adversity. In this interactive session, Bill Lyons, Senior Director with Abbot Downing's Institute for Family Culture, shared six domains of resilience and recovery, facilitated a dialogue about your definition of resilience, shared stories, best practices and tools to foster resilience and recovery in unprecedented times.
Insights and Key Takeaways
Bill Lyons is the Senior Director for the Institute for Family Culture at Abbot Downing. Here Lyons defines resiliency, shares six domains of resilience and recovery, and offers some best practices to foster resilience and recovery in these unprecedented times.
Resilience is the capacity to recover, to bounce back, and truly to deal with more than we think we can.
For many, becoming a steward of significant wealth involves grief and loss, such as when a family member dies. If you’re in the midst of grief and loss, that is not the ideal time to be learning about resiliency. Learn about it and practice it well before you need it.