Hello again Friends,
FW = R (HC + RC)
33 Nuggets of Family Wealth Wisdom: Lots of Perspectives!
Life’s most important lessons rarely arrive as epiphanies. They show up as struggles, quiet realizations, or even as fleeting moments that disappear if you don’t pay attention. I wrap that whole journey up in what I like to call “perspective” and this blog is my journey of those moments.
When I was in a rut creatively almost three years ago, my accountability coach recommended starting this blog. Now, looking back, I can see how much of my perspective has developed from these blogs. Here’s my current mosaic: 33 ideas that have shaped my understanding of life, wealth, and family legacy.
This isn’t a list (including post-script below). It’s a conversation, a journey. And like any good journey, it needs our most valuable resource to work properly: time.
Time is the only resource we can’t make more of. We can’t store it, pause it, or bargain for extra. So we have to ask: are we using our time in ways that align with what we value most? Productivity is important, but it’s not the same as purpose. Purpose gives time its meaning.
Ah, entitlement. It’s the not-so-silent wealth killer. Gratitude, on the other hand, turns privilege into growth. The goal isn’t to strip privilege away but to guide it intentionally, turning it into opportunity.
Opportunities create growth and personal growth thrives with investment. Not just financial investment, but investing in people. Your team, your family, your community—they’re the multipliers in the Family Wealth Equation of long-term family success.
The challenge and opportunity with wealth requires mastering its complexities. There is perhaps no greater opportunity for wealth creators and stewards. Simplifying the complexity allows us to focus on impact, not avoids overwhelm.
One way to simplify is through family governance. Governance isn’t bureaucracy; it’s clarity. It’s the blueprint for generational harmony. When done well, it ensures that every family member understands their contribution.
The same goes for strategy—clarity before action. Strategy is the bridge from dreams to outcomes, a path that connects altruistic legacy goals to the tangible. And like any good bridge, it needs discipline to keep it strong.
Discipline teaches us that trade-offs are inevitable. Every choice we make is a sacrifice of something else. The question isn’t, “Can I have it all?” but “what is all this money actually good for?”
Sometimes, the hardest sacrifices are those tied to control. True leadership isn’t about management; it’s about influence, trust, and empowerment. The same goes for wealth management. Family offices, quite the buzzword in wealth management, are not for everyone. Start With Why, then determine which core activities should be insourced and outsourced.
By focusing on family wealth strategy, the family legacy will be well-built. They’re built in the questions we ask, the great people we spend time with (especially the mentors we seek), and the mindsets we adopt. A mindset of abundance shifts our focus from scarcity to opportunity, from fear to impact.
From a focus on not losing the wealth to empowering your family’s use of it.
Trusts are far too often misunderstood. Too often, they bind impede instead of empower. But a trust doesn’t have to be a gilded cage; it just has to be deployed with clear and effective strategy in mind.
By far the most important aspect of family wealth strategy is each family’s unique perspective on impact.
Impact is the heartbeat of meaningful work. It’s the reason wealth exists at all. Without impact, money is a tool with weak purpose. A blunt instrument. But used well, money amplifies everything we stand for. It’s a tool for creating flourishing, impact, and well-being.
Most of my favourite metaphors relate to flora. Like any strong plant, we have to make hay when it rains. It grows our roots deeper, our resolve stronger.
Our family and our personal journeys are no single thing. Added up, they are our culture. Culture is a garden. You can plant, you can nourish, but the garden takes on a life of it’s own through growth, experimentation, and resilience. Take the risks to experiment and address your culture nourishing intentionally!
Advisor networks are best thought of as ecosystems. Strong networks develop anti-fragility. Like a forest, there beauty in complex systems that thrive through thick and thin. I believe family wealth systems need a combination of deep roots and broadly spread seeds.
I think of myself as a Spripe (a pet term I use for spoiled-ripe-not-rotten), and like any wealth steward striving to be a contributor, I care about development. Stewardship is a responsibility with a very long development plan. Like Spider-Man says about power, with great wealth comes great responsibility. Stewards should take their development responsibly.
Perspective requires curiosity and collaboration. I hope this blog piques something in your curiosity and if it does, please reach out! Collaboration makes my day. Because I’m not all that fussed about the destination, but I care deeply about the steps we take along the way.
This month’s blog wouldn’t have happened without Chat GPT; it is heavily heavily edited by me (Grammarly says it is 0% AI which is impossible!) but I could not have attempted to incorporate the 33 blogs without it.
Here is a list of all of the prior blogs that Chat GPT and I prepared to setup this blog:
1. Time is Your Greatest Asset
You can always earn more money, but you can’t make more time. Use it wisely, or watch it slip away.
2. Trusts Aren’t Cages
A trust should empower your heirs, not trap them in a gilded prison. Build responsibly.
3. Entitlement Will Kill Your Legacy
Entitlement is like rust—it corrodes from the inside. Gratitude, on the other hand, builds resilience.
4. People are Compound Interest
Invest in your people—the returns are exponential.
5. Education and Strategy Build Wealth
Your financial empire needs a toolkit: books, conferences, and great advice.
6. Power Requires Purpose
With great power comes… you know the rest. Use yours wisely.
7. Discipline is the Foundation
No tree grows tall without strong roots. Discipline grounds success.
8. Strategy First, Always
Running headfirst without a plan? You’ll burn out. Strategy bridges dreams to outcomes.
9. Impact is the Best ROI
What’s the point of wealth if it doesn’t make a difference?
10. Your Ecosystem Defines You
Strong networks aren’t just nice—they’re necessary. Build symbiotic relationships.
11. Stewardship is About Vision
Being a steward is more than managing assets. It’s about leading with heart and clarity.
12. Simplicity Wins
Complexity is the enemy of clarity. Simplify wealth management.
13. Families are Entrepreneurs Too
Entrepreneurial spirit isn’t limited to business—families can embody it.
14. Perspective Changes Everything
Sharpen your lens, and growth will follow.
15. Wealth Equals Well-Being
If your wealth isn’t improving your life, what’s it for?
16. Culture is a Petri Dish
Experiment with your culture—it’s where growth and success thrive.
17. Control is Influence, Not Chains
Leadership isn’t about micromanaging. It’s about empowering others.
18. Rain Grows Roots
Challenges aren’t setbacks—they’re opportunities to grow.
19. Family Offices Are Legacies in Action
Done right, a family office is a legacy factory.
20. Sacrifice is the Cost of Greatness
Every choice has a cost. Pick your sacrifices wisely.
21. Mentorship is a Superpower
A mentor can shorten your learning curve by decades. Seek them out.
22. Abundance is a Strategy
An abundance mindset is more than optimism—it’s a growth tactic. Use it.
23. Self-Care is Selfless
When you prioritize yourself, everyone benefits.
24. Family Governance is Peace of Mind
Good governance isn’t bureaucracy—it’s harmony for generations.
25. Privilege is Potential
Privilege isn’t the destination—it’s the starting point.
26. Legacy is Built Daily
Your legacy isn’t someday—it’s every choice you make now.
27. Balance is a Moving Target
Well-being is a dance, not a destination. Keep moving.
28. Money is a Tool
It can help or hurt—it depends on how you choose to use it.
29. Ask Yourself ‘Why?’
All the wealth in the world means nothing if you don’t know what it’s for.