Wealth Class

The change in the gift tax exemption this year brought with it an increased demand for financial literacy workshops aimed at younger generations who are going to inherit great wealth. Wealth Management firms are starting to offer these conferences in response to the growing demand, and to attract new customers. Wealth Management firms take advantage of the opportunity to build an advisor relationship with these wealthy clients outside of strictly financial matters.

The conferences help the younger generations deal with the responsibilities of immense wealth, covering topics such as philanthropy, communication, leadership, entrepreneurship, and succession planning. The conferences have separate sessions for parents and children ranging from ages 18-30, as well as joint value sessions that discuss wealth transfer, reputation, and family legacy.

See Charles Paikert, Wealth Managers Wooing Gen Y Heirs with Conferences and Workshops, Registered Rep Magazine, June 8, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.