Multi-Generational Families

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Multi-Generational Families Building a Legacy

We began working with a married couple whose family wealth came mostly from one public stock holding. After managing the couple’s wealth for over a decade, we learned the clients wanted us to create the same support system for their children, then in their 20s. The adult children had not previously been actively participating in a financial planning process. With multiple trusts in place, they were unclear about the origin and purpose of these vehicles and wanted to understand what this money meant in the context of their own financial lives.

It was a priority to treat the children as individuals and full-fledged clients with unique preferences and goals. It was important to the parents that their children were in trusted hands and could be free to make their own informed financial decisions. This approach also was important to the children, who had varying investment interests and valued the boundaries and confidentiality we maintained between their finances and those of their parents.

Family Wealth, Individual Needs

We began by guiding the children through a collaborative investment decision-making process and educating them on the design of each trust. Additionally, here is how we helped:

They wanted to incorporate Environmental, Social, and Governance (ESG) criteria into their strategies. We were able to customize their portfolios accordingly, and in the process, foster a conversation about the impact they want to make with their wealth.
We worked with the parents and their tax and legal advisors to evaluate opportunities to pass on additional wealth to their children, which partly involved addressing stock concentration risks and balancing charitable and estate objectives.

As children grow up, leave the household, and begin their own careers, parents (our clients) come to find significant value in having us work with their children as clients. We’re able to guide the next generation through the financial complexities that accompany first jobs, marriages, home purchases, and births of businesses and babies. These families know Gibson Capital is built for longevity and is here to serve their children and grandchildren for decades to come.

Contact us to hear more about securing our services.

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Services

Financial Planning

Design highly customized strategies that fit into the broader context of your financial life while integrating key factors, such as your insurance, income tax, benefits, retirement goals, and more.