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Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Engaging the next generation in family philanthropy

Engaging the next generation in family philanthropy

Karen Kardos

By Karen Kardos

Head of Philanthropic Advisory – North America

June 27, 2019Posted InWealth Advisory

Sustaining and growing the family legacy across multiple generations is a key challenge for wealthy families all over the world.

Most, if not all families know that their legacies depends on their ability to prepare younger family members to succeed them and continue the family mission. However, many do not know how to do this and become deeply concerned their legacy will dissipate as a result.

A family’s legacy is so much more than just its wealth. It is also its reputation, influence, and actions in business, community, culture, and philanthropy. A family’s legacy is a reflection of its united identity, and therefore can often evoke stronger emotions in all family members, compared to simply sustaining family wealth. The legacy should convey what the family stands for and what kind of global impact they want to have.

One way families can ensure their legacies continue is by creating a strategy to engage younger family members well before they are likely to take the reins. Families must carefully choose which areas to engage the ‘next generation’ or ‘G2’ in at the start.

For many families, philanthropy provides an excellent opportunity to prepare the next generation to succeed. This is because philanthropy is typically the ‘glue’ that binds a family together in shared values and interests.

It is crucial that early conversations engaging the next generation in family philanthropy are successful, but in many cases they can be awkward, stressful, and even cause major disagreements. This can leave families struggling over the right next steps.

Our latest white paper explores how all generations of a family can come together in respectful and productive discourse, key issues to discuss, the consensus and outcomes to be achieved, and practical ways to involve the next generation including programs and board roles.

To read this white paper click here.