June 14th, 2017
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 about the past and present that help identify what really matters. So do emotional intelligence and levels of communication. They all combine to define core values for which a family can design a long-term wealth strategy. The fact is, with great wealth comes even greater challenges. Families need a values-driven GPS to guide them. By exploring self-determined rituals and beliefs Legacy “works with you to arrive at rules to live by.” This is a chance for wealthy families to reassess not only the financial, but the intellectual, social, human and spiritual capitals that are all key to the family’s long-term growth. That is not always easy; families need a “trusted space” to begin the conversation, one that might also raise non-financial issues unexplored or ignored.
Legacy’s team with its years of experience knows how to engage at this crucial moment and in this space. The overriding principle they share: “we have seen that wealth alone, without broader insight, will not survive over three generations.” Money alone can’t dictate a pathway for when to give or spend or when not to. Questions they help answer: How does a parent ensure that their values will be considered or even applied in the future? How to ensure the family wealth does not unintentionally contribute to spoiled or entitled children? What about those in or out of the family business? And how, considering the core values, should overall wealth be considered for outreach and philanthropy?
Legacy Capitals has helped families address and answer these difficult questions. They have been a uniquely qualified facilitator in synthesizing the obligations of wealth with value-based solutions. Legacy is a partner in helping the family identify their shared values, and crafting a long-term, holistic strategy for maximizing the family’s potential. Faith, financials, living with a genuine purpose, all of these work together for the higher goal: A family that thrives now and in the future.
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