With over $100 trillion of wealth expected to pass between generations as part of the Great Wealth Transfer, there are many challenges to navigate, including different perspectives within families, misaligned expectations and disappointment, as well as family conflict. Some of the biggest difficulties faced by both advisers and families include a lack of planning, poor communication and unreadiness.

The Prosperity Pathway: From Wealth Creation to Legacy provides advisers and families with the knowledge needed to overcome these hurdles. Drawing from his experience as a consultant and adviser in family governance, enterprise succession, next-generation development and philanthropy, author Russell Prior:

• explores the concepts, dynamics and implications of core and surplus wealth, and the differences between financial and non-financial wealth;
• demonstrates how prosperity comes with the presence of money, time, health and strong relationships;
• outlines the essential ingredients for an individual’s or a family’s successful wealth journey;
• shows how building a wealth philosophy and wealth narrative can support positive communication about wealth within families;
• examines the importance of having a broad team of advisers; and
• shines a spotlight on the key drivers for successful wealth generation, extraction and transition, and legacy creation.

Packed with practical guidance and tools alongside interviews, case studies and checklists, this title makes essential reading for all practitioners advising high-net-worth and ultra-wealthy individuals and business families, including family business advisers, private bankers, lawyers, accountants, tax advisers and financial and investment advisers. It will also be of significant interest to family leaders, next-generation family members and family office leaders.