Wealth Prejudice

Published: Oct 7, 2019

Let’s Talk Family Enterprise Podcast – Epidsode #4

Host: Ruth Steverlynck, LLB (Hons.), FEA

Guest: Myra Salzer, Founder, The Wealth Conservancy

Myra Salzer, joins host Ruth Steverlynck to share her insight and knowledge on working as an advisor for inheritors. She shares tips, best practices and what to consider when building relationships with this often underserved and misunderstood clientele.

Mentioned in this episode

Living Richly: Seizing the Potential of Inherited Wealth

Author: Myra Salzer

An organic companion for those seeking to harness their potential and overcome traps and burdens associated with an inheritance. Advisors can use to help conquer these obstacles by focusing on how to integrate with, take control over and preserve wealth, to live a fulfilling life and leave a lasting legacy.

The Cabin: Building a Family-of-Affinity Office

Author: Myra Salzer

Taking responsibility for and integrating with newly acquired wealth goes way beyond financial planning and investment management. The Cabin is a fun, informative look at how the near-perfect family office is possible by placing the members in the forefront and viewing overhead and employees as investments rather than costs. A great insight for advisors.

The Confident Inheritor

Author: Myra Salzer

This book exposes the myths around the platinum handcuffs inheritors often receive along with their wealth, including several prejudices that advisors should consider and try to identify within themselves when advising an inheritor.

The Cycle of the Gift: Family Wealth and Wisdom

Author: James E. Hughes Jr.,Susan E. Massenzio, and Keith Whitaker

The ultra-affluent are faced with the task of giving at perhaps the largest scale in history. Beyond the tax savings and wealth management implications, giving to family members opens up a slew of thorny questions for advisors to consider, including the biggest of which is, “How do I prepare recipients of such large gifts?”.

Wealth Prejudice: How It Affects Us (TEDx Talk)

Myra Salzer’s talk focuses on inheritors as a minority group, and outlines the difficulties they face. She reminds us that we often judge human beings who have no control over their inheritance, as examples of an absurd generalization

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