The New Financial Advisor ─ Strategies for Successful Family Wealth Management

Praise for The New Financial Advisor


"For those of us who are working day to day on the frontier of wealth management, Scott Budge has done a remarkable job of mapping out this new territory-helping families achieve life outcomes. Budge's book is a valuable primer for advisors who are ready to embrace the psychological aspects of their role with families as a complement to their financial expertise."
-Dirk Junge, Chairman and CEO, Pitcairn


"At the time when the qualitative issues of human development are becoming the dominant questions for families, Scott Budge's defining of the New Financial Advisor brings to life the kind of advisor who will be most helpful to families in the years to come."
-James (Jay) E. Hughes, author of Family Wealth: Keeping It in the Family and Family: The Compact Among Generations


"The modern financial advisory landscape is more complex than most advisors realize. Successful advisors will gain a map and a compass if they take advantage of Scott Budge's many insights and words of wisdom. The New Financial Advisor keeps the focus on outcomes, and advisors will discover investment solutions uniquely suited for families."
-Charlotte B. Beyer,founder and CEO, Institute for Private Investors


"Scott Budge has written a wise, warm, and informative guide to navigating the human side of wealth management. The New Financial Advisor should be on the short list of required reading for anyone who aspires to the role of 'Most Trusted Advisor.' I know I'll be consulting it often."
-Elizabeth P. Anderson, CFA, Beekman Wealth Advisory, LLC


"Scott has rightly perceived that today's financial advisors can play a different role-helping their clients navigate their family relationships around wealth. The New Financial Advisor's theory and practices provides examples to achieve this goal."
-Charles W. Collier, Senior Philanthropy Advisor, Harvard University, and author of Wealth in Families

G. Scott Budge, PhD, is a Managing Director with Greenwich, Connecticut? based RayLign Advisory, LLC; he also works with multigenerational families and trains financial institutions and advisors to deliver better and more enlightened service in today's competitive environment. He has published several articles, including works on the psychology of investments, family wealth, and family businesses, and has served on the editorial board of the Family Business Review. Budge has spoken at numerous conferences in Europe, the Caribbean, and South America, in addition to the United States, and continues to speak frequently.

Preface.


Acknowledgments.


About the Author.


Introduction. Where We Are and How It Got That Way.


Chapter 1: Accepting the Challenge.


Chapter 2: The Psychology of Money and Wealth.


Chapter 3: Know Yourself.


Chapter 4: Service Model Supporting Life Outcomes.


Chapter 5: Facilitating Family Meetings.


Chapter 6: Major Life Events: How You Can Help Families Navigate Difficult Times.


Chapter 7: Enabling Advisors: Open Letter to a Financial Institution about What the New Financial Advisor Needs to Succeed.


Chapter 8: Skill Development for Your New Role.


Chapter 9: Ethical Considerations for Trusted Advisors.


Appendix A: Tools for Engaging and Changing Families.


Appendix B: Training and Resources for Advisors.


Notes.


Index.