NARRATOR: Can your wealth be a sustainable resource for future generations? Will it have a positive impact on those who ultimately benefit from it? At Truist Wealth's Center for Family Legacy, we're here to help you confidently answer yes to both those questions.
We know that a couple's wealth might eventually extend to and empower more than a dozen households. Yet research suggests families have less than a 1 in 3 chance of sustaining their wealth across multiple generations. Why?
Surprisingly, it has little to do with poor investment performance. Instead, it's far more often attributable to a breakdown in communication, a lack of trust, or inadequately prepared heirs. To help families understand the possibilities of sustaining their wealth, we've distilled our experiences and best practices into a sustainability pyramid.
We focus intentionally on growing all three forms of family capital—financial, what your family owns; human, who your family members are; and intellectual, what your family knows—to help you build a solid foundation around your financial capital, take a multigenerational perspective to build an enduring infrastructure, and teach the next generations about the responsibilities of wealth and how to work together for the common good of their family, their community, and the causes they support.
The Center for Family Legacy brings more than 30 years of experience to the challenges of helping families make decisions together around shared assets, improving communication about wealth and values, and educating family members about the responsibilities that come with a life of significant wealth. Our numerous programs and tools are specifically designed to help you and your family increase the likelihood of sustaining wealth over multiple generations, and amplify the positive impact you can make on the future.
Let us help your family organize shared values and passions into a collective vision that prepares each family member to be a responsible steward of the family legacy.
For more information, please speak with your Truist Wealth Advisor, or visit Truist.com/Wealth.