With The —
WINNING THE RELAY RACE OF
FAMILY WEALTH STEWARDSHIP
About The Book ——
From his personal and professional experience, Steve Braverman has learned that wealth management and transfer needs to be defined by far more than just numbers. Personal and professional experience has taught him that much more goes into creating a successful legacy. With Your Time with the Baton he moves beyond the basics of setting up a trust and having good investments to the challenges of communicating with family about what is often a difficult subject.
BOOK LAUNCHING iN
EMBRACING THE OPPORTUNITY OF
WEALTH MANAGEMENT AND TRANSFER
—— The Six Step Relay Race ——
Family Wealth Stewardship
The Great Wealth Transfer and You
Trillions of Dollars are set to transition to the next generation of US Families over the upcoming decades. Having a Trust set up is only a small part of how to address both the challenges and opportunities afforded to multi-generational families of wealth. And a good trust document is actually the start of the process, although many treat it as the finish!
Wealth Opportunity vs. Wealth Consumption
To truly empower our next generation, and to really encourage inheritors to “own their legacy”, successful stewards of multi-generational wealth have to view that wealth as an opportunity to foster growth and development, and not simply to “spend”. The success of the Family should be measured in the fulfillment beneficiaries receive from making positive contributions their character – defining their legacy, not being restricted to solely following the legacy of their predecessors.
A Safety Net Supports Creative Risk-Taking
Wealth affords beneficiaries the opportunity (and some would say the responsibility) to seek ways to grow – not just grow the capital, but grow themselves and their character. The “safety net” of wealth provide the support for well managed and well planned personal development – creative risk taking – that grows the individual in a way that makes themselves and their Families proud.
Making it to the TOP of the Podium
Discovering, empowering and succeeding for beneficiaries who embrace the opportunities afforded them requires their “team” to help them identify their Talent, Opportunities and Passion. Combining all three with a sense of realism and accountability will be the true definition of perpetuating the Family’s Legacy, and insure “your time with the baton” concludes with you at the TOP of the podium!
Measuring Results, Staying on Course, and
Recovering from Falls
Its frequently said that “it’s the journey, not the destination” and that “those who fail to plan find that they’ve planned to fail”. Having a well managed and well thought out path to success, one that makes full use of “coaches” and “teammates” is the best way to insure your leg of the race is fulfilling and successful before, during and after the run!
Winning the Relay Race of Life
Every day is a new day to perpetuate the gifts of the “concrete safety net”. Every interaction affords each of us the opportunity to positively impact those we engage with and to help them each “define their own legacy” and “win their own race”. Looking for ways to constantly improve the world around is the very best way to live a life of fulfillment and value.
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About The Author ——
STEVE BRAVERMAN is a Co-Founder, former Co-CEO, and now Co-Chairman of Pathstone, an independently operated partner-owned advisory firm providing objective advice to families, family offices, and select institutions. Pathstone’s objective is to help clients create, manage, and preserve wealth across generations. Steve manages his own family’s single-family office and therefore knows wealth management and its related issues from both the client and the client service sides, and he enjoys sharing that knowledge whenever possible.
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