Stewardship: Understanding the Psychology of Multi-Generational Wealth
This course is designed to aid financial advisors actively engaged with or aiming to expand their practice to include affluent families, ultra-high net worth individuals, multi-generational wealth and beneficiaries. This course provides cornerstone principles such as “Shirtsleeves to Shirtsleeves in Three Generations” and explains the modern psychology of stewardship and the fear of wealth eroding over generations. This course highlights important demographic data points on global wealth transfer as well as rich historical case studies from recognized families from the Industrial era. The course provides insightful, first-hand accounts of inheritors delving into the psychological aspects associated with inheriting wealth and being empowered by wealth. Learners will develop a deeper insight into the array of emotions and experiences that their affluent clients may experience. Whether born into wealth or inheriting it during their lifetime, understanding these psychological factors enables advisors to provide more effective support to their clients.
Learning Objectives:
- Define the concept of modern stewardship and explain how it has evolved over time.
- Examine the intergenerational wealth transfer needs for rigorous financial, fiduciary, investment, and estate planning education.
- Develop strategies for advisors to address and support next-gen clients in managing psychological factors linked to inheriting wealth.
Program Outline
Stewardship: Understanding the Psychology of Multi-Generational Wealth
The Stewardship module introduces the concept of stewardship and the role that stewarding principles play in beneficiary’s lives. Students explore values in terms of how they relate to stewardship and being a beneficiary.
Estimated Completion Time: 4 hours
Featured Resources:
Books/Articles
- Borrowed from Your Grandchildren Chapter 3, “The Social History of Family Dynasties” by Dennis Jaffe
- The Legacy of Inherited Wealth, by Barbara Blouin
- The Complete Family Office Handbook, Chapter 13, "Family Entrepreneurship and the Family Bank" by Dr. Kirby Rosplock
- Labors of Love from The Inheritance Project by Barbara Blouin
- Family Business Myths by Russ Haworth
- "There is no 70% rule - improving outcome research in family wealth advising" by Dr. James Grubman
- Wealth Management Unwrapped by Charlotte Beyer
Videos
- Podcast by Dr. Dennis Jaffe entitled, "Modern Stewardship"
- Podcast by Russ Haworth entitled, "Shirtsleeves to Shirtsleeves"
- Podcast by Warner Babcock entitled, "Starting a Family Bank"
- Podcast by Joseph W. Reilly Jr. entitled, "The Inheritance Project"
- Podcast by Charlotte Beyer entitled, "Wealth Unwrapped: The CEO's Guide"
Pricing
$375
- Hours: 4 hrs
- Delivery Method: online/self-study
- Access Period: 12 months
- CE Credit Available: CFP®
- Access your courses anytime, anywhere, with a computer, tablet or smartphone
- Videos, quizzes and interactive content designed for a proven learning experience
- Unlimited access. Take your courses at your time and pace
- Estimated Completion Time: 4 hours
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