How do I educate and engage my (grand)children in the business?
Quote of the day
“We often see families preparing the wealth for the children, but oftentimes, they do not prepare the children well enough for the wealth. Our professionals help ensure that the next generation will be ready to take over the Family Enterprise with confidence.”
I have worked hard to build my business and wealth. How can I ensure the continuity of my legacy through the next generations? How do I make sure that my values are properly passed down to them? I want to feel confident in my children and grandchildren’s financial skills and ensure they are up for the responsibility of not only continuing our legacy, but securing their own futures and accomplishing goals of their own.
How we can help
Leaving a business to the next generation without adequately preparing them to take on the responsibilities can be the source of great stress and can mean the loss of a lifetime of hard work. To ensure a seamless transition of your wealth and business, family members need preparation and engagement.
Ensuring that your children and grandchildren are engaged and ready with technical and financial skills to build a heritage that will endure is crucial.
The importance of passing down values as well as technical knowledge to one’s children raises a number of questions:
- How do I ensure that my legacy will continue?
- How do I pass down not only my wealth but, more importantly, my values to the next generation?
- How can I encourage my children to create their own wealth?
- How can I interest them in investments and key tax and legal concepts?
The quantity of knowledge to pass-down can seem daunting at first; we’re here to help. We understand that each individual is unique. Our Financial Literacy Program is curated to enable participants to learn at their own pace and in their own setting. The flexible online format provides a tailored learning experience with easy access to our finest resources, experts, and bespoke modules.
Educational modules bring awareness to the opportunities, issues, and challenges of managing a family enterprise. Through each, we commit to addressing what matters specifically to you and your family; effectively providing your family members with the information needed to inspire them to join the family enterprise.
The program aligns with your family’s reality and schedule and is adapted to the knowledge level of the participants. Our Richter partners are guest speakers in this program and experts in their fields, so your family members will learn from their expertise in a strictly non-solicitation environment.
At the end of the program, members of the family are invited to create their own dashboards and financial overview reports.
Each family is unique. As is our Financial Literacy Program.
Richter provides interactive resources and a comprehensive learning experience to prepare your next generation for the business, so you can focus on preparing your business for the next generation without worry.
What’s your next step?
- Review the highlights of Richter’s Financial Literacy Program to learn more
- Not sure about your next move? Read Richter’s Transition Book for Your Family Enterprise
- Ready to talk to an expert? Contact us here.
- Meet our lead program facilitator, Justine.
- Questions from your next gen? Our partners provide insights.
Read more about family governance:
Meet our expertsThe people behind the expertise.
Sudharshan SathiyamoorthyPh.D., MBA
Greg MooreCFA, FEA
Danny RitterCPA, CA, CFA
Mindy MaymanB.A., Econ., Fin. PI., FMA, CIM
Justine DelisleCPA, CA, Pl. Fin.
Let’s get you where you need to go
Richter Family OfficeWe understand that the transfer of your wealth to future generations is about far more than just the dollars and cents. It’s about the transition of your legacy.
The Family DynamicsFamily enterprises are complex systems, whether they operate in the context of an operating family business or as stakeholders in a large passive investment corporation.
Quarterbacking Complex Technical IssuesFor our families, investment management is just one important issue: estate and tax planning in many cases is a more significant piece of a multi-generational framework.
Family Account ManagementHigh net worth families face specific complexities: multiple types of investments, sophisticated legal structures, complicated compliance requirements, as well as unique challenges relating to cash management.
Managing your WealthActing as your family’s Chief Investment Officer, our registered professionals provide fully independent wealth management advisory services to guide you in managing and stewarding your family’s financial assets.
Financial Literacy ProgramMany business owners and families of significant means work hard to prepare their businesses for their next generation. A crucial aspect of that process, often overlooked, focuses on preparing the next generation for the business.
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