Home / Education

Transitioning Wealth

Sometimes it is hard to know where to pick up when someone that came before has left us.  When our parents move on to eternity, we are sometimes left to pick up the pieces of an estate and unsure of what to do with the resources they left behind.    You wouldn’t want to squander the inheritance they worked so hard to leave you, but where do you start?  Maybe the best place to start, is the place where your parents left off.

Many times when dealing with the death of a parent, people are forced to ask themselves these exact questions either early or midway through their career.  Sadly, many people have not considered investing very seriously at this point in their career.  Either they haven’t started saving for retirement yet, or they simply use their company’s 401k. When this is the case, many people start where their parents left off….with the financial advisor that helped their parents.  Many people will consider the fact that their parents were well prepared for their retirement and had their affairs in order at the end as a direct result of working with a financial advisor.  Also, by keeping their family investment at the same place, that advisor can maintain the growth plan that their parents were on, with the 2nd generation.  Finally, since you are at a different stage in your career, a financial advisor can help you maximize your greatest asset: time!  By starting a long term investing plan earlier in your career, you’ll be able to do for your children, what your parents have done for you!

At Sound Financial Strategies Group, we have worked with multi-generational family wealth for decades.  We have helped many 2nd generation clients maintain and grow their family wealth.  In fact, we often hear clients tell us, “I wish my parents had set me up with their advisor earlier”.  Whether you are the parent trying to prepare the next generation to succeed after you are gone, or the 2nd generation trying to pick of the pieces of your parent’s estate, our financial advisors can create a long term plan to help you and the generations after you.  Please give us call today and let one of our advisors start you on a generational plan that will help your family for years to come!

Investment advisory services offered through Sound Financial Strategies Group, Inc.("SFSG"), a Registered Investment Adviser.  Securities offered through Comprehensive Asset Management and Servicing, Inc., ("CAMAS") Member FINRA/SIPC.  SFSG and CAMAS are separate and unrelated companies. The opinions voiced in this article are for general information only. They are not intended to provide specific advice or recommendations for any individual and do not constitute an endorsement by CAMAS.


Powered by ID digital