Addicus Emphasizes Sound Financial Planning

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The multi-family office responds to data from a Wealth-X study and discusses avoiding the rags to riches and back again scenario some families endure.

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In a typical situation a first generation creates the wealth, the second generation expands or maintains the wealth and the third generation spends or loses the wealth. This makes financial planning so important.

The report published by Wealth-X notes that more than half of ultra-wealthy first-generation family business owners are 60 or older (Wealth-X defines ultra-wealthy as people with assets totaling at least $30 million). This means the future of the business and the family wealth is quickly coming to a head.

However, according to Addicus, in a typical situation a first generation creates the wealth, the second generation expands or maintains the wealth and the third generation spends or loses the wealth. This makes financial planning so important right now before a decision is forced by circumstances.

Addicus works with the first generation to preserve and build upon its success. Estate plans are designed to mitigate tax and ensure the appropriate inheritance is passed along with the recipients prepared to receive it.

“Addicus first works to understand what is most important to our clients and what they want to accomplish. We then create a clear picture of our clients’ combined personal and business interests, where we identify problems and opportunities,” said Addicus managing Director Stephen Miles. “Then using our clients desires as a backdrop, we set priorities for addressing the problems and opportunities that were identified.

“Finally we manage the projects that are required to solve problems and capture opportunities. This ultimately leads to greater profitability; increased wealth with less risk and liability exposure. We give our clients greater clarity and confidence in their decision making process.”

Addicus assists the second generation by educating them about the financial and business assets as well as developing a vision for the future of the family’s wealth. When it the time comes for the third generation to take over, Addicus educates this group on the history of how the family developed its success, the value of its wealth and creates a structure and strategies to maintain their wealth to the next generation.
To read the report, visit http://wealthx.com/wealthreport/.

About Addicus

Addicus is a full service firm driven by economics, not finance. Our global perspective and approach often challenges conventional wisdom with amazing results. We specialize in providing services usually reserved for family offices of the world’s top earners providing our clients a boutique style approach with a personal touch. Addicus’ Private Wealth Development services start with a discovery phase by piecing together a full and thorough profile of one’s personal and business finances. Leading with your mission statement, Addicus designs and uniquely crafts a playbook to accomplish your goals and initiatives. Contact Addicus today and get started with a playbook of your own. Please visit http://www.weareaddicus.com

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Britton Holleman
Addicus
662-550-2051
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