“How to Preserve Wealth? The Answer is Infrastructure”

featured in Family Firm Institute Practitioner Newsletter

source: The Family Firm Institute (FFI)

Aston • Pearl’s founder, Natasha Pearl, served as this week’s contributor to the “FFI Practitioner’s series of articles from presenters at their upcoming virtual 2020 FFI Global Conference (October 26-28)”.

“In [the] article, 'How to Preserve Wealth? The Answer is Infrastructure', Natasha outlines the importance of developing an effective infrastructure as an important element in wealth preservation for family enterprises.”

Article Highlights

“Family enterprise owners are typically laser-focused on growing wealth. Preserving wealth, on the other hand, may not be an immediate priority.

There is a critically important element in protecting wealth, an element that can prevent later generations from losing it all: infrastructure. Not bridges, roads and harbors, but Wealth Preservation Infrastructure™. This consists of the processes, systems, and resources required to reduce risk, provide consistent service levels, avoid surprises, and improve quality of life. “

”The [COVID-19] pandemic and associated events have been an enlightening stress test. Families with strong infrastructure, with robust crisis plans as a critical component, are functioning at or above their pre-pandemic high level. On the other hand, families that lack infrastructure are experiencing major challenges due to the pandemic and related events, with family members, residential staff, business employees, and family office staff all potentially suffering as a result.”

Pearl, Natasha. "How to Preserve Wealth? The Answer is Infrastructure" FFI Practitioner, 2 Sept 2020. digital.ffi.org/editions/how-to-preserve-wealth-the-answer-is-infrastructure/