High net worth families want 2 things from professional advisers

Author: Frank Akers-Douglas, James Kirk (

Categories: Family Business, Getting advice
Tags: generations, lead advisor, Smith & Williamson, youth
High net worth families want a good relationship with their advisors as Frank Akers-Douglas explains in this TV show.

High net worth families' survey

One was that most of the interviewees that we surveyed and spoke to felt that their professional advisors needed to work closely together and in particularly they would have a lead advisor who would coordinate the various professional advisors that they used in their team and I find that interesting because that’s something that we’ve tried to concentrate on here at Smith & Williamson and it shows the importance of that relationship creation. The second point I would think was to do with the handing on of money and the really quite diverse answers we got from the families that we interviewed as to when was the right time, how to involve children, whether to involve them at all, and that is probably one of the most thorny issues facing a family with money is when to involve future generations. I think it tends to be the older, the older the older generation is the less comfortable they feel about involving the younger generation.

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