The FACES of GENERATIONAL INVESTING

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Merrill Lynch Wealth Management

“Shirtsleeves-to-shirtsleeves in three generations!” Sound cliché? Far from it. Although an early 20th-century proverbial saying, there is a pattern where the first generation builds wealth, the second generation maintains it, and the third generation squanders it. This applies to families that have $100,000 to $100,000,000.

Managing a family’s wealth from generation to generation doesn’t have to be full of perils. For a family to successfully preserve its wealth, it must continue to educate its members financially and agree to uphold its shared values. Most importantly, each successive generation must reaffirm and readopt those shared values.

With a diverse team of advisors, The Foreman-Cook Group provides strategic investing and planning for every stage with families, individuals, and businesses, generation after generation. The team is headed by SVP Wealth Management Advisor John Foreman CFP and SVP Senior Financial Advisor Austin Cook CRPC; along with Financial Advisors Benjamin Ross CPFA, David Foreman, Alina Ali, Maribeth Bates; Registered Senior Client Associate Diana Heitzman, and Client Associate Erin Donner.

The lesson here is all generations need to be connected to the family and family values. If a family is only connected by money and legal structures, it is difficult to keep the shirtsleeves proverb from becoming a reality.

 

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