Did you know 70% of all estate transfers fail within two generations?

Money and real estate is lost and family relationships sour. Many families bicker, squabble over possessions and even end up in court. That’s not the kind of legacy we want to leave our heirs. Chances are you worked hard to generate your assets. Even if you came into an inheritance it takes a lot of work to hold on to what you have. For most of us this is a great challenge. Passing assets to the next generation is the easy part. The single most important reason for the 70% failure rate is a lack of communication. Preparing heirs by discussing tough questions can be quite challenging. Shall we give assets to our children equally? How do we distribute our cherished possessions? Can we somehow assure that our values will continue? It doesn’t matter whether you have a business, family foundation, a summer home or just some prized family heirloom. The process is the same. Each generation must find a way to have open, thoughtful and peaceful discussions where everyone’s voice is heard.

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Do some clients overwhelm you with their family and emotional issues? Ever have a client who can’t quite seem to implement your financial plan or legal advice? Why aren’t clients more loyal?

As a wealth advisor you have a tremendous amount of content expertise from your respective field. One of your biggest challenges involves issues and problems clients present that do not fit what you have been trained to do. Additional skills geared towards understanding client behavior and relationship building can help overcome obstacles and create desired outcomes. This means becoming more client-centered in your approach. This is what clients want. They want to be heard. They want to tell their story. They want a meaningful relationship with you. Learn how to have client-centered conversations and you will take your business relationships to the next level.

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Business leaders are in crisis. Have you found it difficult to think creatively the way you used to? Is it harder to make calm, thoughtful decisions? If so, it might be that you are...

...overwhelmed with anxiety. Who wouldn’t be anxious given the current economic crisis? Effective leaders find a way to navigate through these rough waters. Sound business practices certainly play a part but underneath that is an ability to stay at the helm and keep the ship going in the right direction in the midst of rough waters. It is often the interpersonal issues that challenge the most capable business leaders. Businesses, like families, are comprised of complex relationship systems that are interconnected. Effective leadership involves identifying the emotional process that may be hindering organizational effectiveness. It has less to do with telling others what to do and more about staying calm when everyone else is anxious.

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