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Wealth management

Report: Spontaneous family wealth chats and decisions can lead to regrets

November 2, 2023

Many families dive in without a plan, process or skills to make well-intended conversations about wealth productive – leading to unintended stress, potential family rifts and under-functioning heirs. Image: Bank of America Many families dive in without a plan, process or skills to make well-intended conversations about wealth productive – leading to unintended stress, potential family rifts and under-functioning heirs. Image: Bank of America

 

By Staff reports

Nearly four in five wealthy families have had unplanned discussions about wealth, with 26 percent later regretting it.

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MOST READ
  1. Future of luxury goods is AI-powered transformation: report
  2. Future of refrigeration in the luxury home – and what consumers are telling brands
  3. Luxury fashion sector needs to reinvent amidst widespread global slowdown
  4. New episode of Luxury Stance Podcast: What the ultra-wealthy – 0.01 percent – want out of luxury hospitality
  5. Luxury Roundtable launches Luxury Marketer, a global intelligence, analysis and news source for luxury professionals across sectors 
  6. Access no longer the new scarcity for global wealthy: report
  7. How to advise your audience without wagging your finger at them?
  8. Webinar Oct. 9: Why AI is key to luxury's future
  9. 1 week left – Countdown begins for Luxury Outlook Summit New York
  10. Why brands should scale back and focus on the core to drive growth


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