snobby-heirs

A recent study finds the majority of rich families lose their wealth as it trickles down to both second- (70%) and third-generation (90%) heirs, reports Time.com.

This occurs because many families (64%) fail to share how they manage wealth with their children, says the study. And, most parents (78%) say they children aren’t financially responsible enough to handle large inheritances.

Read more on the study results.

Also, check out these articles on how to help wealthy families preserve their assets.

Too much generosity can spoil children

How Canada’s wealthy will retire

Help parents teach kids about money

How to retain your clients’ kids

Advisors overestimate how well they understand rich clients

Europe will have most multi-millionaires by 2024

Originally published on Advisor.ca

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