The tangible assets, business, properties, investments and intellectual property of a family which have quantifiable financial value.
‘Four Pillars of Capital for the Twenty First Century: The Next Chapter – Practical Wisdom and Leadership for Changing Times’ is the third report in the Stonehage Fleming research series which outlines the challenges in the transfer of wealth across generations, and analyses how the rapid pace of change is affecting the way families prepare for the future.
The report contains information gathered from a survey, interviews and workshops conducted with some 150 multi-generational members of different families and their trusted advisers.
Four key themes emerged from the findings:
LEADERSHIP – Ensuring the right model for now and for future generations
RISK – Identifying the risk to long-term success
REPUTATION & CONTRIBUTION – Deploying social and cultural capital
VALUE VERSUS VALUES – Balancing investment return with social responsibility
No financial legacy can survive through the generations without addressing other key issues around a family’s culture, values and the purpose of wealth. The Four Pillars are key to the long-term sustainability of family wealth.
This is a great piece of research that enables families to appreciate and understand the intricacies associated with wealth and how to plan for long-term sustainability.Four-Pillars-of-Capital-The-Next-Chapter