Spire Insights


Wealth Is Moving. Get The Families Involved Early, Cerulli Says

Developing relationships w/ entire families

Cerulli Associates states in their recent virtual presentation, titled “The U.S. High-Net-Worth Marketplace: Shifting Wealth Dynamics and Service Models,” that 70% of children end up firing their advisor once the primary wealth holder passes away.” Spire agrees with Cerulli’s research, which suggests the best strategies to reduce wealth movement is to include regular family meetings, education sessions to teach family members about the purpose of wealth, a planned succession hierarchy, business succession planning, charitable planning that includes the kids, and a family mission statement (which includes things about the family’s core values and heritage.)

Click the image above for the full article

No items found.