It has been a hectic week. Your client and his wife are coming to your office for a meeting at 1:00 P.M. today. He sends you an email to inform you that he plans to bring his young adult kids, who happen to be in town for the week, along to the meeting. He asks
Read moreAfter delivering the morning keynote at Invesco’s Investment Symposium today, my O’hare-bound Uber drove past the Intercontinental Hotel, which flashed a memory from my past. Twenty years ago, I attended a family foundation conference at that hotel. I laughed to myself, thinking the name tag I wore that week should have read “Help me. I’m
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Legacy Capitals has been serving financially successful families for many years by helping them to work through topic such as family governance, family values, family philanthropy, family dynamics, and family business, and preparing the rising generation for the opportunities and responsibilities that come with wealth. All too often, families and the advisors who serve them,
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Whether we at Legacy Capitals are facilitating a multigenerational family retreat with one of our family-clients, or training Advisors to facilitate family meetings themselves, it is important that the stage is set properly to ensure the family has a productive and meaningful experience. To this end, a few important steps are involved in properly setting
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In an article published by Legacy Capitals titled, Engaging Families in Philanthropy 3.0, we write: When people think of philanthropy, they typically envision affluent people writing large checks to nonprofit organizations, but the true scope of philanthropy has far greater impact and complexity. Etymologically, the word philanthropy refers to the love of humanity or promoting
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In chapter five of my book Legacy, I address the question that is on the hearts and minds of parents, especially parents of financially successful families, and that is: How do I prepare my children for the opportunity and responsibility of wealth? I addressed this question in a prior blog titled: 4 Parenting Tips for
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In chapter five of my book Legacy, I address the question that is on the hearts and minds of parents, especially parents of financially successful families, and that is: How do I prepare my children for the opportunity and responsibility of wealth? Here are four of the ten tips provided in my book. Principle #
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In the recent past I had the opportunity to attend multi-generational family meetings with financially successful families. Prior to ever attending a family meeting, I had discussed with the Legacy Capitals team what happens at the meetings; however, experiencing it for myself was eye-opening. To draw a parallel, it was like listening to someone talk
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Can Wealth Buy You Happiness? Or ensure that values pass to the next generation? According to Legacy Capitals, the answer is not necessarily. Wealth, though a unique privilege and a blessing for many, is only the beginning. Legacy CEO Richard Orlando’s mantra “Money serving families not people serving money.” It is the larger family questions and answers
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When people have infant children at home, they tell themselves that the next stage of parenting will be easier—more sleep, less worry. They, of course, are wrong (but we should probably wait a few years to break the bad news to them). When parents of school-aged children run taxi service to afternoon activities, offer assistance
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One of the greatest challenges financially successful families have is how to talk about their wealth with their children. More specifically, we at Legacy Capitals are commonly asked by parents (aka, wealth holders), “Should we talk about our family wealth with our children?” “If so, at what age do we start talking about the money?”
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Recently my wife and I experienced a lovely getaway to Newport, Rhode Island. In addition to enjoying the restaurants, shops and boats, we spent much of our time at the International Tennis Hall of Fame Club (ITHF) playing tennis. While talking to the ITHF Director of Tennis, I began to learn about the mission of the
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