“Some of our clients have inherited wealth, others created it. What they all have in common is the need for real insights into different aspects of private wealth ownership, from first principles upward.
Many also recognise that it is important to go beyond the obvious issues of understanding markets or assessing the balance between risk and reward.
WealthWise™ have devised courses that include sessions on how to maximise the usefulness of professionals, cutting through the jargon – and opportunities for delegates to explore their personal lifestyle objectives in one-to-one counselling with our course tutors. We tackle such issues as how to evaluate advisors and build effective relationships with them.
Philanthropy
Another interesting observation is that as wealth owners become older, they progressively divert more and more money into charities, foundations and philanthropic projects – and less and less to the next generation.
Typically, the focus begins with the basics of funding children’s education, medical and housing needs and starting businesses. But beyond that, the donors of wealth want their children to serve real apprenticeships and to develop genuine life skills, without becoming de-motivated from having no necessity to achieve anything.
It therefore becomes important to assist each successive generation to understand the merits and uses of philanthropy in a family wealth context, and how it can bring the whole family together through a shared, worthwhile cause.
Even the youngest can benefit: for clients with a private family foundation, a valuable technique is to create a junior board. This deft touch enables the children to increase their participation and understanding of wealth’s responsibilities – and so value them more.
I believe WealthWise™ is an essential step towards becoming comfortable with wealth ownership. Our purpose is to ensure that the wealth belongs to the individual rather than he or she belonging to it.”
Key Wealth Care is the Jersey-based wealth management group specialising in private client and family office services.
For information
brian.clarke AT key-trust.com
www.key-trust.com
Tuesday, 16 December 2008
“WealthWise”:Courses helping the rich become wise about wealth
Saturday, 16 February 2008
Key Group launch “Inheritors of Wealth” course
Key Group, the Jersey based company, chaired by Brian Clarke, announced the launch, this week, of their Inheritors of Wealth course. The course will enrol young adults and people who come into money later in life to enable them to course learn financial and life skills. As Brian says “Its purpose is to equip them to avoid the problems of catching a wealth cold or “affluenza”.
The first two Inheritors of Wealth™ programmes will take place in mid April at a luxury hotel outside London. In a move that is likely to interest the wealth sector, Key-Trust are safeguarding delegates’ security and privacy, having the hotel closed to the general public and its name and location will not be revealed, even to delegates, until they have both registered and paid the course fee.
Brian Clarke, whose company Key Wealth Forums is organising the course, says: “When people come into substantial money, as well as the obvious benefits, they also become vulnerable to risks, often through a sense of unworthiness. These can include manipulative so-called friends and acquaintances, would-be spouses with unloving intentions, opportunistic business promoters – all in addition to understanding the complexities of their financial affairs. “Inheritors of Wealth™ is an essential step towards becoming comfortable with wealth ownership. It will help to ensure that the wealth belongs to the individual rather than he or she belonging to it.”
The Inheritors of Wealth™ programme is the result of co-operation-in-action between Key Trust, a specialist family office business and top-20 accountancy firm Kingston Smith. All course tutors are experienced and successful professional advisors to wealthy families and business owners. They include: Brian Clarke, managing director of Jersey-based Key Trust Company, where he looks after the financial management and planning needs of wealthy private families; Partners from Kingston Smith LLP, one of the UK’s top 20 accountancy firms whose private client team brings together expert knowledge with practical experience when advising wealthy business owners.
Contact Brian Clarke
T: +44 1534 630500
www.key-trust.com
