Episode 019: For high-net-worth families, wealth is more than just numbers on a balance sheet. It represents a legacy, a responsibility, and a means to achieve their unique aspirations.

In this week’s episode of Milemarker’s Connected Podcast, I talk with Frazer Rice, Director of Family Office Services at Next Capital Management. We talk about the role of family office services in managing the wealth and lifestyle of high-net-worth individuals and families as well as the importance of communication and conflict resolution in preserving wealth across generations.

Here are a few key takeaways from this week’s ep:

The wealth management industry requires a multidisciplinary approach to problem-solving, combining expertise in law, finance, and other domains.

Communication is the biggest challenge in preserving wealth across generations, and conflict resolution is crucial in avoiding destructive situations.

The ultra-high net worth space requires independent advice and a focus on minimizing conflicts of interest.

Technology can enable advisors to better serve clients, but manual labor and personal relationships will continue to play a significant role.

The episode is available now on your favorite podcast platform:

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If you’d like to schedule a time to talk with me about anything we cover on our podcast or Milemarker, click here to grab 15 minutes.

Kyle Van Pelt