The New Matriarchs
Recognizing the shift in demographics, the ecosystem is adapting, with initiatives emerging to help women family leaders find their voices and become more active participants in managing their family’s wealth.
Change is in the winds. Women control more than 60% of personal wealth in the USA. While older generations hold a patriarchal view of wealth, only a third of their children hold such views. Women family leaders, regardless of age, are challenging traditional gender roles.
The ecosystem is adapting to these changes, recognising that within the family office, women needed to be approached differently than men. We are seeing initiatives to help women find their voices and become more active participants in their family’s wealth.
Women want to work with advisors who will empower them to make their own decisions, and the more valued advisors were the ones who proactively worked in terms of shared understanding and decision-making for both spouses.
The advantages of having women involved in decision-making are well established—a diversity of opinions and perspectives leads to better decision-making. In particular, when it comes to family wealth, women often focus on the big picture and the whole family's end goal instead of just the numbers.
Consider This: Are the women in your family involved in family wealth decision making? Do your advisors actively seek to include them? Are there cultural barriers to involving women?
Further reading:
What A Family Office Means For Ultra-Wealthy Women
Why Women Must Be Part of Planning Meetings
The Importance of Gender Diversity in Estate Planning
The Power Of Diverse Perspectives: Why We Need More Women In Finance
What role do women play in High Net Worth families, and how is it changing?
Actionable Generational Wealth Succession
For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com. We will send you the archive links from there.
This article appeared April 25, 2022
#familyoffice #wealthmanagement #conflictresolution #strategicmanagement
#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
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