Wealth of Wisdom

CHAPTER 33Finding an Advisor Who Will Help Your Family Thrive for Generations

Kathy Lintz and Ned Rollhaus

If you aspire to have a family that will thrive for generations, selecting a trusted advisor to guide you through this process is one of the more important decisions you will make as you embark on your journey. As the universe of wealth advisory firms is large and complex, our purpose here is to highlight some practical considerations to help families evaluate to what degree a potential advisor is likely to be a good match for your family. In this chapter, we focus on the few areas that we feel are most likely to reveal the characteristics of an advisor that a family would want to know before making a decision. It is important to note that this is never a question of who is the “best” advisor and always a question of who is the “right” advisor for your family.

Culture: The famous quote from Peter Drucker that “Culture eats strategy for breakfast” most certainly applies to advisors who serve families. Culture is everything in our field as it permeates through all areas that will directly affect the quality of service and advice families receive. Recruiting and retaining top talent, commitment to innovation, customization of services available to families, level of collaboration to tackle complex problems, chemistry with family, ability to manage conflicts, etc. all are critical elements of a good partnership that are deeply rooted in firm culture.

People and Resources: ...