More Than Money: A Guide To Sustaining Wealth and Preserving the Family (Bloomberg)

MICHAEL A. Bank. COLE is the president and founder of Ascent Private Capital Management of U.S. He and his team provide ultra-high-net-worth clients with a unique and distinctive suite of wealth management services combining traditional wealth management offerings with cutting-edge wealth-impact services.

However, the reason most family fortunes evaporate is because the family communicates poorly, lacks trust, has divergent visions, and does not prepare succeeding generations to sustain the hard-won resources. Whether you are in an ultra-high-net-worth family or serve clients who are, this enlightening, practical resource takes you step by step through the conversations that need to happen to determine how to manage the family enterprise and resources, the roles each family member should play, how various family groups can best communicate with each other, and more. More Than Money is the pioneering guidebook that integrates the concept of traditional tactical wealth management with the strategic "soft skills" today's families must understand to effectively manage significant wealth.Advising families in the ultra-high-net-worth class comes with unique chal

Research has shown a failure rate of 70 percent in long-term multigenerational wealth management, and contrary to popular assumption, only five percent of that failure is due to bad investment, poor tax planning, or inadequate performance by legal and financial advisors. Traditional wealth management cannot fix this. More Than Money merges traditional strategies with family dynamics, communication, governance, and preparation to help your resources last for generations to come.. The number-one reason family wealth management fails is the family itself; poor communication, lack of trust, divergent visions, and a failure to prepare succeeding generations will tear down the resources the family has worked so hard to build. Instead, this book offers a fresh approach that integrates strategic and tactical wealth management to align the family’s assets with the family members.  With helpful tools and advice drawn from a real-world understanding of family complexiti

A Money Guide That Is Really About Families Gloria Sugarman Michael A. Cole's book, "More Than Money: A Guide to Sustaining Wealth and Preserving the Family" is so much more than even its title implies. Written by the president and founder of Ascent Private Capital Management of U.S.Bank, it is ostensibly addressed to wealthy families, but actually applies to all families. Warm, wonderfully written and immensely readable, it gives concrete examples of how we all deal with each other. Author Cole delves deeply into h. A fresh approach scott If you're interested in wealth management, and especially in the continuity of family and wealth across generations, I recommend you check out this book. Many books discuss the theory of wealth management and family systems in the abstract, without many practical examples. Others simply educate with technical information, and overlook the elephant in the room (i.e., the family!). Michael Cole's book, on the contrary, very effectively uses stories to make a . Family Dynamics & Wealth Management kelly Michael Cole's book takes a deep look at the family dynamics that influence how wealth is accumulated and preserved through the generation. It's a fresh perspective and a fascinating read.