Complete Family Wealth, 2nd Edition

CHAPTER 10Advisers

You can define a straight line; what use is that to you if you've no idea what straightness means in life?

Seneca, writing about “experts”

Questions to Consider

Family wealth is a “high-credence” field. That means that it is not always clear to people using services how results are achieved and how performance is or should be measured. If a dentist does something wrong, you feel it. A wealth adviser's advice may appear mistaken only long after the fact. As a result, most clients engage with advisers, at least in part, on trust. That's why personal charm, friendly recommendations, and prestige often complement or even replace cold analysis in the selection of advisers.

When meeting with a prospective new adviser ...