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Category Archives: Finance

Are You and Your Partner Money Compatible?

As the saying goes, opposites attract. How do romantic partners connect when they are blending their financial lives and looking at managing their finances together until death do us part? It can get tricky. But if you and your partner share similar values and are money compatible – making, managing, and investing money is just a little easier. Money compatibility is defined as having similar financial goals and values, and an ability to discuss and resolve financial differences. Money compatibility does not mean that … Read More >

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Business After Divorce: Tips for Copreneur Exes to Coexist

It’s a well-known fact that about half of all marriages end in divorce. Whether the split is amicable or contentious, the process is painful, especially if there are children involved. When you consider that close to four million married couples run family businesses, another difficult challenge rears its ugly head when a divorce occurs: can copreneur exes continue to work together? The issues that arise when copreneurs divorce go deeper than financial concerns. In most cases, both spouses want to maintain their roles at … Read More >

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The Psychology of Money

The way you think about money has a significant effect on the way you live, and if you happen to be a financial professional, your feelings about money are certainly going to affect how you work with clients. It can be invaluable to take the time to think about what money means to you, a process that may often uncover financial fears and irrational thoughts. Money messages—your earliest memories about money, often passed down by your parents—influence your financial perspective in an extremely powerful … Read More >

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How to Facilitate Family Business Meetings

High net worth families can realize significant benefits from scheduling annual family meetings, and advisors can add value to their relationships by having the ability to facilitate these important gatherings. While wealth management will always have a place on the agenda, when family meetings are expanded to discuss more than money, they can provide an unparalleled opportunity to build stronger family cohesiveness. One of the most important things a family meeting facilitator must do is ensure all the participants have equal standing. Another is … Read More >

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What Do High Net Worth Clients Need From Business Advisors?

“Let me tell you about the very rich. They are different from you and me.” This line appeared in a short story written by F. Scott Fitzgerald in 1926, and even after all these years, there’s a good deal of truth in it—truth that needs to be understood by those who want to serve high net worth clients as business advisors. You might be surprised to learn that the first thing I recommend to business advisors who aspire to serve the wealthy is to … Read More >

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