Mike Byrnes recently spoke at a two-day conference in Malibu, California called The Great Wealth Transfer, organized by the Institute of Preparing Heirs.
The goal of his presentation was to help advisors know how to educate their older clients to use various types of technology to better communicate with their children. Too often the next generations blow through their money and/or the family falls apart. The desired outcome is to better prepare the children and grandchildren so they are ready for when the assets pass to them.
Watch some of Mike’s presentation called “Social Media Tools to Connect the Family” to learn:
- How the world is communicating differently
- How for the first time the younger generations are teaching the older generations
- How each generation communicates differently
- How the cultural shift in communications is creating an opportunity for social business
Watch another short video to understand the power of YouTube and get Mike’s three takeaways of what to do with social media and other technologies to better prepare heirs.
Read Mike’s Private Wealth article called “The Time To Prepare Heirs Is Now” to learn:
- The current reality – The vast majority of estates fail to transfer wealth successfully to the next generations and/or the family harmony becomes broken.
- High net worth research – The greatest aspiration of wealthy individuals is that they be good parents.
- Advisor research– Successful advisors understand family dynamics.
- Industry progression – Advisors can no longer just be stock brokers. They need to evolve. If they do, they will differentiate themselves, retain more business and cultivate new relationships.
Need help improving communications and utilizing technological resources, contact Byrnes Consulting for assistance. Check out The Children’s ISA and learn more about the benefits of having your children start saving money for their future as early as now.
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