Relative Solutions Conducting Women and Wealth Study

Relative Solutions’ Women and Wealth Study Seeking Women with Substantial Family Wealth To Participate in a Confidential Interview Study

We are seeking a few women between the ages of 45 and 65, with children, whose family net worth is at least $25M, to participate in a confidential interview study of their experience and perspectives on the stewardship of family wealth. Campden Press is a partner in this research with Wilmington Trust as the sponsoring organization. The data will be reported at national conferences and in articles for journals and magazines.

About the Project Increasingly, women are creating wealth and making decisions about family wealth. We want to understand the emerging complexities of women and financial management to help advisors and financial institutions develop financial programs that deal with the complexities of women’s lives with regard to money, and to help women become more effective and informed stewards of their family wealth. We want to study the role of women in the broader fabric of the transfer of wealth between generations.

The focus of this project is to develop a clearer picture of some of the changes in how women view and plan to use their wealth. We will be using interviews to develop an in-depth view of how women approach these major issues around wealth and their lives. Our findings will be presented at wealth conferences and in a monograph. We feel that this project will be an important step toward making the unique preferences and views of women clearer, and to identifying their unique voice and perspective, so that advisors can be more helpful to them in addressing their concerns, and so that they can be more helpful in working through the issues that wealth poses for multi-generational families.

. Safeguarding Your Privacy. We have taken great pains to make sure that the information that we obtain will be totally confidential. The interviews will be by phone, will last about one hour, and will be completely confidential. Participants will receive a private number to call from Relative Solutions to arrange an interview. Since most participants will want to receive the study results we will keep a separate list of names and contact information unconnected to the interviews themselves.

While the interviews will be recorded so that they can be transcribed and content and theme analyzed, there will be no way to identify who is being interviewed since names and interviews will not be connected. In addition, the tapes of the interviews will be destroyed after we obtain the data from them. Neither our partner nor the sponsor has access to the list of names or the actual data.

In the report of the study, there will be no way to identify any people who have participated. We will be reporting the data in terms of key themes, issues, concerns, and activities that will not identify any individuals.

For further information or to inquire about participating, please email Fredda Herz Brown or Dennis Jaffe at Relative Solutions at research@relative-solutions.com. Or if you would prefer you can call Fredda or Dennis at 201 569 0100.

Women and Wealth Research 2009

Relative Solutions, Wilmington Trust and Campden Research and are proud to present the Women & Wealth 2009 Research. This groundbreaking study provides an in-depth look at how exceptionally affluent women are changing the wealth paradigm, taking control of their futures and steering their wealth to the betterment of their families and communities. It also provides insights into how wealth advisors can best serve them.

http://www.campdenconferences.com/default.asp?page=article.display&article.id=16024

The Wilmington Trust/Campden Research Women & Wealth Research 2009, produced in association with Relative Solutions, provides the most comprehensive look at how ultra-high-net-worth women are relating to and managing their wealth. The women who are now or fast becoming the beneficiaries of a massive transfer of wealth have also experienced societal changes that have opened up opportunities for them in their families and work lives.

The research provides invaluable insights into the key concerns affluent women have about their wealth and what they would like to achieve with it, for themselves, their families and communities. The study reveals a valuable snapshot of what these women are grappling with and provides insights so that wealth advisors can best serve these clients. Findings cover the following:

  • How affluent women view wealth in the context of their lives
  • How decisions around investments and spending are made in the family
  • What women want from their advisors
  • Top concerns about the impact of wealth on their families
  • Spending habits
  • Future goals for their wealth

Outlook:

Women are increasingly taking responsibility for managing their wealth and the role it plays in their family, work and community lives. Affluent women see wealth as a means of empowerment to achieve life goals and independence. They seek a holistic approach to wealth management from their advisors, addressing how investments and wealth planning fit in the larger scheme of their lives. This report provides insight into the psyches of the wealthiest of women in the hopes of helping them address the implications of their fortunes to achieve goals. It also presents a foundation of understanding for advisors so they can best serve these clients.

THE NEW WEALTH PARADIGM: How affluent women are taking control of their futures

This groundbreaking webinar, which aired on October 27th, 2009 at 4:00pm EDT, covered highlights from Relative Solutions’ recent study on women and wealth, which illuminated the role affluence plays in the lives and future plans of the wealthiest women in our society. While only a few generations ago all wealth was held by men, now the balance has shifted to where more and more of the wealth of the family is made and controlled by women.

Many participants in the study commented on their evolving and ambivalent relationship with money: “I’ve grown to be comfortable with money, but it took a lot of time. I felt it was a great privilege, but it sort of hurt my motivation for a career. I’m a bit uncomfortable about our family wealth, and I see signs of it in my kids. I’m not sure it was good to give kids so much money at 21. I worry that it may impair them as it did me.”

To view the presentation, click on download.

To listen to the recorded phone conference, please follow these steps:

  • Dial 1.866.803.1430 to access the playback center,
  • Press “1” to indicate you would like to listen to your recording,
  • Enter 5387523# for your Conference ID,
  • Enter 8004691# for your Playback ID.

For International locations, please dial 303.928.3279 to listen to the recorded phone conference.

Hurricane Sandy Update

Our thoughts are with our clients, colleagues, and their families who live and work in the communities impacted by Hurricane Sandy. We hope that you and your property are safe and out of harm’s way. We know this is a challenging time but we wanted to let you know that we are up and running. If you have tried to reach us and cannot get through on the phone lines, please try again or send an email and we will get back to you as soon as possible. We look forward to speaking with you soon.

Fredda Herz Brown and Fran Lotery featured in Family Business Magazine (January/February 2013)

Fredda Herz Brown and Fran Lotery, of Relative Solutions were featured in Family Business Magazine. The article by Barbara Spector is titled “An online assessment to determine steps your family should be taking” and gives a review of The Family Wealth Sustainability Toolkit, an online self assessment and companion manual developed by Lotery and Herz Brown.

http://www.familybusinessmagazine.com/

New Family Wealth Toolkit Helps Families Maximize More Than Wealth

The Family Wealth Sustainability Toolkit is a new must-have book and online resource for families and financial planners to maximize financial capital, human capital and social capital. Read full release here.

New York, NY (January 2013) – Family wealth management means more than managing dollars. Maximizing wealth, family member capabilities, and addressing life fulfillment is a combined and sustainable approach that leading family-enterprise experts and authors Fredda Herz Brown and Fran Lotery unveil in their new The Family Wealth Sustainability Toolkit. The recent release from Wiley Finance bridges generations, and facilitates family wealth sustainability with an applied-learning approach.

The Family Wealth Sustainability Toolkit is more than just a book, it is a hands on assessment of individual family enterprises using theory with applications. Families and financial planners will learn from the experts using the handbook and have the additional value of the online resource for families to analyze themselves and acquire a healthy methodological foundation in order to successfully navigate complex and ever changing currents. Access to the online index comes with the handbook or can be purchased alone on the book website www.familywealthsustainability.com.

Dr. Fredda Brown, Co-author says “To be sustainable, families must look more broadly at wealth. Our Family Wealth Sustainability Toolkit helps families ‘learn by doing’ using a framework which includes structural development, decision-making processes and cross-generational leadership strategy. With our toolkit, family enterprises can learn how to meet current capital needs of present family members, while ensuring sufficient resources for future generations, and subsequently how each branch of the family and successive generations together can make wise decisions.”

For nearly two decades, Herz Brown has studied and assisted generational transitions within successful families. Now a guest lecturer in the Columbia University MBA program, her research began at the Family Institute of Westchester; a postgraduate training center in family systems work, which she co-founded.

Dr. Fran Lotery, Co-author says that “Families cannot look myopically at money alone. We created a handbook and online resource to empower families and their advisors with both theoretical best practices, and hands-on management technology. Our handbook and online resource bridges the generations, and also facilitates leadership of wealth. Human and social capital is addressed along with financial capital, including the positive reasons for continuing to remain together, and share assets. It addresses how the shaping of the family legacy allows each generation to contribute, and what is required of the next generation to effectively lead into the future, also how to meet current capital needs of family members that ensures sufficient resources for future generations; and how each branch, generation and family as a whole make decisions.”

Fran Lotery began her diverse career as a therapist and as an adjunct professor teaching family dynamics. Lotery has more than thirty years’ experience and knowledge in family economic and emotional systems gained from work with professional firms, family enterprises, owners of closely-held companies, and large nonprofit institutions.

Drs. Fredda Herz Brown and Fran Lotery are each pioneers in the family-enterprise field. Together in 2006, Herz Brown, Lotery, and others formed Relative Solutions, a leading firm which helps multigenerational family enterprises manage the decisions related to their shared assets.

Lotery says, “Families are looking for new approaches to working positively together to manage change and to reach their aspirations and goals. Our Toolkit bridges the generations by improving the knowledge and resources available to them.” According to Fredda Herz Brown, “Enterprising families are made up of individuals who are interconnected in distinctive and complex ways. Their sharing of financial assets raises the potential for facing many risks, opportunities, and challenges together.”

The Family Wealth Sustainability Toolkit by Fredda Herz Brown and Fran Lotery was officially released November 2012 and is available at Amazon.com and Wiley Publishing. Access to the online index is added value with every handbook. The online index can also be purchased separately at www.familywealthsustainability.com.

About The Family Wealth Sustainability Toolkit

The Family Wealth Sustainability Toolkit is an interactive assessment tool and companion manual for wealthy families and their financial advisors that analyze the behaviors and knowledge that impact a family’s overall wealth, while also providing best practices needed for improvement. One part assessment software tool and one part companion book, the online Index allows readers to assess their family enterprise across four dimensions of sustainability, while the Manual acts both as a roadmap to analyzing their results and provides a foundation in best practices.

About Relative Solutions, LLC.

Relative Solutions is a firm that manages change within families as they transition their wealth from generation to generation. It was founded by leading family-enterprise experts and authors Fredda Herz Brown and Fran Lotery, authors of The Family Wealth Sustainability Toolkit. Whether they are working with a family on the meaning and impact of wealth, or on issues of governance, strategic planning and philanthropy, Relative Solutions helps families to achieve their stated goals. To learn more visit: www.Relative-Solutions.com