{"product_id":"wealth-of-wisdom-isbn-9781119827702","title":"Wealth of Wisdom","description":"\u003cp\u003e\u003cb\u003eDiscover practical tools and strategies for helping wealthy families retain and grow wealth \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIn \u003ci\u003eTop Practices Wealthy Families and Their Advisors\u003c\/i\u003e, accomplished family wealth experts Tom McCullough and Keith Whitaker deliver a comprehensive collection of practical activities that members of wealthy families can undertake to ensure their continued success and development.\u003c\/p\u003e \u003cp\u003eThe book contains over 50 chapters, each highlighting a practical tool, exercise, or activity that can be applied by advisors or family members themselves. Each chapter is written by a recognized expert in the field who has used the highlighted tool, exercise, or activity over many years with great success.\u003c\/p\u003e \u003cp\u003eThe book shows readers how to:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eIdentify the factors that matter the most when it comes to retaining and growing family wealth\u003c\/li\u003e \u003cli\u003ePlan thoughtfully, invest wisely, and raise the next generation\u003c\/li\u003e \u003cli\u003eShare their decision making prudently and carefully combine family and business\u003c\/li\u003e \u003cli\u003eIncorporate charitable giving into an overall wealth strategy and seek sound advice\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003ePerfect for family wealth advisors, financial planners, and private bankers, \u003ci\u003eTop Practices for Wealthy Families and Their Advisors\u003c\/i\u003e is also an indispensable resource for managers of family trusts seeking to protect and advise their clients.\u003c\/p\u003e \u003cp\u003eForeword xiii\u003cbr\u003e \u003ci\u003eJames E. Hughes, Jr.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003eIntroduction xvii\u003c\/p\u003e \u003cp\u003eAssessing Your Family’s True Needs xxi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 1 Thinking Through What Matters Most 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Four Profound Questions for Families 3\u003cbr\u003e \u003ci\u003eEllen Miley Perry\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 2 Identifying Actionable Values for Family and Enterprise 7\u003cbr\u003e \u003ci\u003eDoug Baumoel and Blair Trippe\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 3 Values That Matter 13\u003cbr\u003e \u003ci\u003eSharna Goldseker and Danielle Oristian York\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 4 A Framework for Family Wealth and Well-Being 19\u003cbr\u003e \u003ci\u003eRichard Franklin and Claudia Tordini\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 5 Understanding Identity and Social Power 27\u003cbr\u003e \u003ci\u003eKofi Hope and Zahra Ebrahim\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 6 Tapping Character Strengths to Move Families Forward 33\u003cbr\u003e \u003ci\u003eKristin Keffeler\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 7 Using the Ikigai Model to Foster a Legacy of Meaningful Engagement 39\u003cbr\u003e \u003ci\u003eDon Opatrny and Keith Michaelson\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 8 Stages of Wealth Integration 45\u003cbr\u003e \u003ci\u003eCourtney Pullen\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 9 Learning from Your Money History and Writing a New Story 51\u003cbr\u003e \u003ci\u003eJill Shipley\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 10 Envisioning the Future 59\u003cbr\u003e \u003ci\u003eJamie Traeger-Muney\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 2 Becoming a Learning Family 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 11 Benchmarking Your Family Against Successful Global Families 69\u003cbr\u003e \u003ci\u003eDennis Jaffe\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 12 Understanding the True Goals of Wealth Preparation 75\u003cbr\u003e \u003ci\u003eJames Grubman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 13 Advancing Flourishing: A 10x10 Learning Roadmap 81\u003cbr\u003e \u003ci\u003eStacy Allred, Joan DiFuria, and Stephen Goldbart\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 14 Finding What’s Next for Your Family 97\u003cbr\u003e \u003ci\u003eBarton Parrott\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 15 Creating Impactful Learning Programs for Families 103\u003cbr\u003e \u003ci\u003eGreg Burrows and Ruth Steverlynck\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 16 Developing a Family Wealth Education Plan 111\u003cbr\u003e \u003ci\u003eKirby Rosplock\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 17 Practical Tools for Building Healthy Families 119\u003cbr\u003e \u003ci\u003eChristian Stewart\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 3 Planning Thoughtfully 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 18 Expressing Purpose in Your Trusts 129\u003cbr\u003e \u003ci\u003eJohn A. Warnick\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 19 Managing a Shared Family Property 137\u003cbr\u003e \u003ci\u003eJamie Forbes\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 20 Creating a Family Bank 143\u003cbr\u003e \u003ci\u003eJames E. Hughes, Jr.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 21 Undertaking a Family Risk Assessment 147\u003cbr\u003e \u003ci\u003eLinda Bourn\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 22 Is Your Infrastructure Resilient? 155\u003cbr\u003e \u003ci\u003eNatasha Pearl\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 23 Creating a Family Owner’s Manual 161\u003cbr\u003e \u003ci\u003eJosh Kanter\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 24 Family Behavioral Health Wellness Assessment 167\u003cbr\u003e \u003ci\u003eArden O’Connor\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 25 Building a Smart Aging Plan 173\u003cbr\u003e \u003ci\u003eSusan Hyatt\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 26 Managing the Risk of Diminished Capacity 179\u003cbr\u003e \u003ci\u003ePatricia Annino\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 27 Creating an Ethical Will 189\u003cbr\u003e \u003ci\u003eScotty McLennan\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 4 Investing Wisely 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 28 Monitoring Financial Capital with the “Four Horsemen” Graph 199\u003cbr\u003e \u003ci\u003eScott Peppet\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 29 Keeping Goals in the Spotlight with Capital Sufficiency Analysis 203\u003cbr\u003e \u003ci\u003eJoe Calabrese\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 30 Constructing an Investment Portfolio to Support Family Goals 209\u003cbr\u003e \u003ci\u003eJean Brunel and Voyt Krzychylkiewicz\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 31 Investment Education for Family Members 219\u003cbr\u003e \u003ci\u003eJim Garland\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 5 Seeking Sound Advice 225\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 32 Assessing Your Family’s Financial and Family Management Needs 227\u003cbr\u003e \u003ci\u003eScott Hayman and Tom McCullough\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 33 Finding an Advisor Who Will Help Your Family Thrive for Generations 235\u003cbr\u003e \u003ci\u003eKathy Lintz and Ned Rollhaus\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 34 Choosing Trustees with Care and Wisdom 241\u003cbr\u003e \u003ci\u003eKim Kamin\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 35 Assessing Your Readiness for a (Family Enterprise) Leadership Coach 251\u003cbr\u003e \u003ci\u003eGreg McCann\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 36 Understanding Advisors’ Fees 255\u003cbr\u003e \u003ci\u003eMark Pletts\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 6 Raising the Rising Generation 261\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 37 Balancing Entitlement and Responsibility in Children’s Birthdays 263\u003cbr\u003e \u003ci\u003eJoline Godfrey\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 38 A Ritual to Send Children off to College 269\u003cbr\u003e \u003ci\u003eAndrew Doust\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 39 Developmental Life Lessons for Grandchildren 277\u003cbr\u003e \u003ci\u003eWilliam (Bo) and Suzanne Huhn\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 40 Deciding If You Should Join the Family Business 281\u003cbr\u003e \u003ci\u003eJosh Baron and Rob Lachenauer\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 41 How Can You Ensure the Success of Your Successors? 287\u003cbr\u003e \u003ci\u003eDean Fowler\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 42 The Intergenerational Dialogue 295\u003cbr\u003e \u003ci\u003eSusan Massenzio\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 7 Navigating Family Dynamics 299\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 43 A Three-Step Process for Enhanced Communication 301\u003cbr\u003e \u003ci\u003eKeith Whitaker\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 44 Strengthening Your “Family Factor” to Deconstruct Conflict 305\u003cbr\u003e \u003ci\u003eBlair Trippe and Doug Baumoel\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 45 Using Genograms to Understand Family Patterns 311\u003cbr\u003e \u003ci\u003eGuillermo Salazar\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 46 Achieving New Insights and Possibilities through Generative Dialogue 317\u003cbr\u003e \u003ci\u003eMichelle Osry\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 47 How Powerful Are Your Questions? 323\u003cbr\u003e \u003ci\u003eIan McDermott\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 48 Expectations versus Agreements 329\u003cbr\u003e \u003ci\u003eMimi Ramsey and Stephanie Hardwick\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 49 Enhancing Sibling Relationships 335\u003cbr\u003e \u003ci\u003eChristian Stewart\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 50 Gamechanging 343\u003cbr\u003e \u003ci\u003eMatt Wesley\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 8 Making Shared Decisions 349\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 51 Hats Off to You! 351\u003cbr\u003e \u003ci\u003eLee Hausner\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 52 How to Balance Family Stability with Resilience over Generations 355\u003cbr\u003e \u003ci\u003eJames Grubman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 53 Making Better Decisions by Telling Stories That Have “Already Happened” 359\u003cbr\u003e \u003ci\u003eStacy Allred\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 54 Democratizing Family Decision-Making 365\u003cbr\u003e \u003ci\u003eBarbara Hauser\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 55 Using RACI to Determine Roles and Responsibilities in a Complex Multigenerational Family Enterprise 369\u003cbr\u003e \u003ci\u003eKathryn McCarthy\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 56 Creating Internal Controls and Policy and Procedures for a Family Office 377\u003cbr\u003e \u003ci\u003eEugene Lipitz\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 57 Leading Successful Family Meetings 381\u003cbr\u003e \u003ci\u003eKatherine Grady and Wendy Ulaszek\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 58 Establishing Ground Rules for Family Meetings 387\u003cbr\u003e \u003ci\u003eKeith Whitaker\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection 9 Giving Together 391\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 59 Finding a Philanthropic Focus and Integrating the Rising Generation Perspective 393\u003cbr\u003e \u003ci\u003eEtienne Eichenberger, Małgorzata Smulowitz, and Peter Vogel\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 60 Facilitating Grandchild-Grandparent Philanthropy 401\u003cbr\u003e \u003ci\u003eJames E. Hughes, Jr.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 61 Helping Families Move Up the Philanthropic Curve 405\u003cbr\u003e \u003ci\u003eLeslie Pine\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 62 A Roadmap to Successful Philanthropy 411\u003cbr\u003e \u003ci\u003eSusan Winer\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eConclusion 415\u003c\/p\u003e \u003cp\u003eBios 417\u003c\/p\u003e \u003cp\u003eIndex 419\u003c\/p\u003e \u003cp\u003e\u003cb\u003eTOM McCULLOUGH\u003c\/b\u003e is Chairman and CEO of the Northwood Family Office, a multifamily office that serves the comprehensive needs of families of wealth. He has more than three decades of experience in the field of family wealth management and is an Adjunct Professor and Executive-in-Residence at the University of Toronto’s Rotman School of Management. He is the co-author of two other books — \u003ci\u003eFamily Wealth Management: Seven Imperatives for Successful Investing\u003c\/i\u003e, and \u003ci\u003eWealth of Wisdom: The Top 50 Questions Wealthy Families Ask.\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e\u003cb\u003eKEITH WHITAKER, PhD,\u003c\/b\u003e is president of Wise Counsel Research, a leading consultancy to families with wealth on governance, communication, and the development of rising generation leaders. He has been published in \u003ci\u003eThe Wall Street Journal, The New York Times, The Financial Times,\u003c\/i\u003e and has co-authored six other books for Wiley, including \u003ci\u003eCycle of the Gift, Voice of the Rising Generation,\u003c\/i\u003e and \u003ci\u003eComplete Family Wealth.\u003c\/i\u003e  \u003c\/p\u003e\u003cp\u003e Significant family wealth brings many opportunities and benefits. At the same time, enterprising families face considerable challenges as they attempt to navigate financial and estate planning, succession, developing rising generation talent, and more. It is important for high-net-worth families to find and employ proven methods to help protect and improve their resources and family relationships over time. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eWealth of Wisdom: Top Practices for Wealthy Families and Their Advisors\u003c\/i\u003e, veteran family wealth practitioners and advisors Tom McCullough and Keith Whitaker have collected practical and hands-on tools, exercises, and activities for wealthy family members and the practitioners who advise them. Contained in 62 stand-alone chapters, written by leading family wealth advisors, these concrete strategies are designed to help families thoughtfully plan for their future, invest wisely, raise the next generation of family leaders, share decision making, and effectively connect with communities through philanthropy. \u003c\/p\u003e\u003cp\u003eIn this book, you will find templates, tools, and exercises you can apply immediately in your advisory practice or in your own family to determine legacy, identify core values, understand family complexity, and explore individual histories with money. This book offers a single, definitive source of actionable solutions from over 70 leaders in the field of family wealth advising. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eWealth of Wisdom: Top Practices for Wealthy Families and Their Advisors\u003c\/i\u003e is an indispensable guide for wealthy families and the family offices, advisors, consultants, lawyers and accountants who work with them to help them achieve their goals.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eProtect and grow family wealth and relationships with concrete strategies for high-net-worth families and their advisors \u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eWealth of Wisdom: Top Practices for Wealthy Families and Their Advisors\u003c\/i\u003e is a practical and hands-on toolkit containing exercises, techniques, templates, and strategies that can be immediately applied by wealthy families and their advisors to help protect and grow their financial resources and family relationships. The included tools encourage readers to think through and determine their highest priorities, plan thoughtfully for the future, invest their assets wisely, raise the next generation of family leaders, and more.  \u003c\/p\u003e\u003cp\u003eExercises like the Family Self-Assessment Tool and the Family Money History Questionnaire reveal foundational and important truths about the structure and behavior of wealthy families, while techniques like the Core Values Exercise demonstrate where family priorities lie and how to make decisions as readers move into the future.  \u003c\/p\u003e\u003cp\u003eAn indispensable guide for family office professionals and other practitioners who advise wealthy families as part of their practice—as well as members of high-net-worth families themselves—\u003ci\u003eWealth of Wisdom: Top Practices for Wealthy Families and Their Advisors\u003c\/i\u003e is a one-stop, authoritative resource collected by two of the leading advisors and practitioners in family wealth today.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990470967525,"sku":"NP9781119827702","price":45.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119827702.jpg?v=1761787957","url":"https:\/\/k12savings.com\/es\/products\/wealth-of-wisdom-isbn-9781119827702","provider":"K12savings","version":"1.0","type":"link"}