High Net Worth Families Increasingly Use Executive Coaching to Plan

January 2006

 

The importance of inheritance and succession planning is something every asset holder can
appreciate. The difficulties increase exponentially as the amounts at stake become larger.
Family politics can mean that planning decisions become all but impossible to make. It is
often awkward to raise the subject, or to talk about it openly and honestly. The wealthy
find themselves in a situation where there are more questions than answers.
Thomas Preston & Associates, a firm of skilled executive coaches, find a growing demand
for their services from high net worth families who want to make a success of their planning
for future generations.

 

Thomas Preston says “Families are complex and get more so when issues such as succession
and custodianship of wealth by future generations are involved. Sensitive issues are better
addressed with an objective facilitator with no vested interest. Our clients are able to plan
and address issues that would otherwise be difficult if not impossible. It is a powerful
process that high net worth families value. Often it is used by owners of family businesses to
plan for the future and develop talent and success.”

 

 

Executive coaching is not about telling anyone what to do. Nor is it financial or legal advice.
The issues are not confined to inheritance and succession. Coaching sessions may address a
number of family or personal issues and may involve other family members or facilitated
family meetings. High net worth families have most of the issues which other families have
and yet many of the things that need to be resolved are often closely linked to the business
world and management issues.

 

 

In an atmosphere of complete confidentiality clients are able to explore potential solutions,
examine alternatives and recognise their values and priorities.

 

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