Hold family meetings that create an invaluable bond between generations
We serve several large families with multiple households across the country that include generations who have different needs and varying levels of financial literacy. For one family, we periodically host a meeting for more than 70 family members, providing an opportunity to offer innovative services in helping them maintain a cohesive mission for their family wealth. During one recent meeting, under the direction of senior family members, we created a unique agenda that included time for bonding across the generations, financial education, and time to address more pressing financial decisions.
During meals, we set up separate tables so that more financially savvy family members could discuss investment strategies, while younger family members could learn the basics of budgeting, financial markets, and investing. A particularly successful program for the younger family members encouraged each one to identify, research, and buy a stock, and then track its performance.
The most popular event included a genealogical chart we created that tracks the family’s complex network of new children, new marriages, changing locations, and accomplishments. We also allowed time to update governance and intra-family reporting processes to help keep family members informed between meetings.
The case studies described herein are intended to illustrate Manchester Capital Management’s approach to developing personalized solutions to our clients’ unique investment management problems. These examples should not be considered to be recommendations for any particular client and are not intended to demonstrate a pattern of success or guarantee positive performance. Because our recommendations are individually tailored based on each client’s individual needs, there is no guarantee that our approach to managing any client’s account will share some or all of the characteristics as the situations depicted.
Nothing contained on this website constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision.