By Charles Lowenhaupt

Who usually gets treated the worst when a wealth holder, his wealth advisor and his child deal with the family fortune? The wealth inheritor.

That may come as a shock to wealth holder parents who believe they are doing everything they can to help their children be successful and their wealth advisors who are supporting the “next generation,” but it’s no surprise to wealth inheritors. Too often, they are mistreated by their parents and mishandled by their wealth advisors. The result: Many wealth inheritors are miserable.

Wealth advisors can do a world of good for individuals and families of significant wealth if they realize the plight of the wealth inheritor and redefine their role as advisor. (more…)