Helping clients and their families make wealth succession a success
Coutts has been looking after wealthy families for over 300 years and is well versed in the challenges that go hand-in-hand with wealth succession. Our experience has shown that transferring wealth from one generation to the next can be a smooth and fulfilling journey if it is well thought through and prepared for.
Our dedicated in-house experts in the Coutts Institute offer advisory services to clients through family workshops, retreats and individual consultations. This culminates in the creation of a family distribution strategy, with associated documentation, to clearly record the family’s vision, values and governance in relation to the family wealth.
Clients and their families find it helpful to address a range issues, including:
- When is the right time to pass wealth on?
- Who gets involved in the decision-making?
- How much do you give and to whom?
- How do we best prepare the next generation for the opportunities and challenges wealth brings?
To find out more about how we can help, please contact your private banker.
Advice and product fees may apply.
The value of investments and the income from them can fall as well as rise, and you may not recover the amount of your original investment.
Coutts Wealth Succession events offer clients opportunities to share experiences and ideas with peers who face similar challenges and opportunities.
Previous events have explored clients’ attitudes, concerns and expectations associated with their wealth. Our experts in the Coutts Institute also highlight what we believe are the key steps to successful succession.
For more details about these events please contact your private banker or wealth manager.
Over the next 20 years an estimated £1trn of wealth in the UK will pass down to the next generation. Research shows that only 13% of wealth successfully passes to the third generation and 37% of families have experienced conflict as a result of both planned and unplanned succession.
With so much at stake it’s no surprise that wealth is a taboo subject for many families, yet this is something that we can play a key role with talking to our clients and supporting them through this transition.
Leveraging the insights gained through our interviews with families across the UK, our report Breaking The Wealth Taboo: Making Succession A Success, explores the issues families face when considering wealth succession and outlines eight key steps to make succession a success. If you would like to explore how these insights could be applied to your personal circumstances please contact your private banker or wealth manager.
If you would prefer a hard copy, please contact your private banker or wealth manager.