Navigating the path from creating wealth to building a strong legacy is not straightforward. It demands the strategic investment of your time and resources, along with the right ideas and clear guidance.

Understanding the “why” and “how” behind a meaningful legacy is essential – and calls for purposeful planning, active stewardship, and preparing successors for future roles and responsibilities.

It’s easy to see why some wealth owners are lured by wealth planning solutions that promise to be quick and easy.

After all, compared to other financial endeavours such as running a business or investing in financial markets, where returns are often immediate and tangible, it can be hard to justify the time and commitment wealth planning requires. This is especially true as returns on such planning may be less obvious to quantify, or only materialize under certain circumstances (often when it is already too late).

Put simply: if an individual is already wealthy, why should they invest into creating a lasting legacy?

 

Wealth alone is not a legacy

A true legacy comes from wealth that is consciously shaped, structured, and directed to meet objectives that align with your – and your loved ones’ – values.

A true legacy is wealth that is protected, as well as prepared, for its future custodians.

That’s why we believe wealth and succession planning requires as much commitment as the original wealth creation.

It calls for an open dialogue between principals and successors to define expectations – supported by a clear process and the right people.

Most importantly, wealth planning is about shaping the values and purposes beneath your wealth. In doing so, a wealth owner can establish how their wealth is accessed – and how it shapes the people and causes dear to them.

 

An ongoing process, not a one-time event

Creating a robust succession plan requires continual attention and investment. Like nurturing a business, a plan calls for the strategic allocation not only of financial resources – but also of time.

Just as importantly, a wealth owner needs the right advisors to collaborate with – and take clear, tailored guidance from.

Remember: every hour invested into this process is a step towards preserving your wealth, protecting your family harmony, and perpetuating your values for future generations.

Fundamentally, building and executing a robust wealth and succession plan is an act of stewardship. Strong wealth planning manifests in a clear overall plan, covering all legal as well as other technical components, business matters, investment issues and structuring questions. It also involves planning for contingencies and potential “what if” scenarios.

This goes beyond mere structuring and protecting of assets or creating financial security – it also works to safeguard family values, ethos, and aspirations.

 

The balance of wealth and relationships

The yields of wealth planning may not always be as immediately discernible as from other financial endeavours. However, the true return on your investment emerges in a myriad of profound ways. It unfolds in well-prepared next generation, a family strengthened by shared values, in a resilient and harmonious family structure, and in individuals who feel empowered and who are mentally robust. Ultimately, it culminates in a legacy that leaves a lasting, positive impact on society.

It is the art of striking a balance between wealth and relationships: the two variables at the heart of the Conduct Formula.