If you have children or grandchildren, listen to pop music or consider yourself a Disney movie fan, you likely know the Billboard Global 200 chart-topping song “We Don’t Talk About Bruno.”
The acclaimed Encanto song is about the Madrigal family’s uncle Bruno, exiled for his foreboding prognostications which, unfortunately, come true. The song is sung by all ages in our house and apparently around the world. (And if you know it, you’re now humming it, too. No, no, no.)
I find most families could create their own Bruno song with a slight shift in what they don’t talk about:
We Don’t Talk About . . .
• Our finances
• Who will inherit what
• How the business will be owned and run
• Our poor investment decisions
• The wisdom we’ve gained… and on and on.
This lack of communication hinders the practice and process of accumulating, conserving and transferring (ACT) wealth and preparing your heirs to be good stewards.
In a survey of their clients, The Williams Group found that it wasn’t a lack of technical planning (although very important), that was the primary reason for a loss of wealth between generations. The primary cause of this wealth loss was a lack of trust and communication. This finding rings true for us in our own experience of many years.
We at Highland are privileged to help people ACT regarding their wealth, recognizing the importance of having more purposeful and productive discussions on how that wealth was created, sustained and for what purposes it is and may be used. These discussions are essential to cultivating family wealth and harmony.
We’ll be glad to hear you sing the number-one Global Billboard song, but let’s talk about matters that are too often left unsaid. We’re ready to help you and your family talk more openly about processes to better accumulate, conserve, transfer and enjoy your wealth.
Highland Consulting Associates, Inc. was founded in 1993 by a small group of associates convinced that companies and individuals could be better served with integrity, impartiality, and stewardship. Today, Highland is 100% owned by a team of owner-associates galvanized around this promise: As your Investor Advocates®, we are Client First. Every Opportunity. Every Interaction.
Highland Consulting Associates, Inc. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer of solicitation for the sale or purchase of specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.