Cre8tive Philanthropy

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Investment and innovation in the for-profit social impact community.

Wisdom is not just for the wealthy.

I tend to shy away from opinion pieces on this blog as I like it to be centered on news within the realm of philanthropy, impact investing, and social enterprise. However, I came across this post on the WSJ blog. It discusses a firm that helps wealthy families tap their “intangible assets” as a family, their family wisdom, to keep the family legacy together and alive.

As someone who has worked as an asset manager within a wealth management team, I always tried to integrate client values within their investment plans. However, developing, assessing, and strengthening the family intangible assets takes values integration to a whole new level Рand I love it.

What if, instead of planning just for the transfer of assets, people focused on what they could really share with their family? The concept of developing and sharing family “wisdom” brings the potential for family cohesiveness, communication, and a sense of purpose or being. I believe all three of these things are valuable for any family, not just those that are wealthy. They offer a powerful movement for the betterment of communities and societies at large. For that reason, discovering the “intangible” assets of a family may be more important than just the tangible.

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