According to Roy Williams and
Vic Preisser in their book, Preparing Heirs: Five
Steps to a Successful Transition of Family Wealth and Values, studies
show that 70% of heirs lose control of their inheritance within one generation
and 93% within three generations. The
loss of wealth is also often combined with a loss of pride, self-esteem, family
harmony and productivity. In extreme
cases, many wealth heirs turn to destructive behaviors such as substance abuse,
loss of motivation and a culture of entitlement. Preparing
Your Heirs will inform and educate parents on how to empower their children
to lead independent, meaningful and purposeful lives. The program will present practical tools parents
can deploy every day on how best to have those challenging conversations with
family members and open up safe and productive channels of communication from
one generation to the next.
AMIR MOSSANEN is a Senior Vice President and Wealth Advisor
for Wells Fargo Private Bank and is responsible for understanding and managing
the financial situations for high net worth clients. He specializes in
multi-generational planning, family education and succession planning. He has
authored papers on the multi-generational wealth transfer and developed family
dynamics workshops to enhance harmony and effectiveness across generations. He is also the author of “The Giving
Dilemma,” “Beating the Midas Curse,” and “Coping with Sudden Wealth Syndrome.” Prior
to his career in wealth management, Amir was a management consultant working
with Fortune 500 companies and government agencies on strategy creation and
implementation. He earned a Masters in
Business Administration with a specialization on Customer Focused Strategy and his
MBA thesis on fixed income arbitrage was awarded a distinction for its unique
insights.
Come to Crowell Library for an informative evening on
the exceptional risks that children of affluence face and how best to mitigate
those risks.
