Getting Families to Talk About Money

Talking about money with family can be uncomfortable. But these conversations can prevent problems, strengthen family relationships, help clients enjoy their wealth while they’re alive, educate younger generations and deepen the advisor’s relationship with the whole family.In this episode of the Advisor Turntable Podcast, Brendan Ryan talks with financial advisor Traci Garnett-Froscheiser about how she makes family financial conversations a regular part of her practice.They discuss:Simple ways to bring family and estate conversations into annual client reviewsHow advisors can serve as the “quarterback” between clients, attorneys and tax professionalsWhat families should—and don’t necessarily need to—share about their financesWhy “fair” and “equal” aren’t always the same when passing down wealthHow working with clients’ children early can build financial literacy and stronger multigenerational relationshipsWith one of the largest generational wealth transfers underway, its never too early to get the next generation involved.Traci also wrote a 3-part blog series on this topic. Read it here. This material is provided for informational purposes only and does not in any sense constitute a solicitation or offer for the purchase or sale of securities nor does it constitute investment advice for any person or a recommendation to take any action. Investment themes and individual securities mentioned may or may not be held in any or all client accounts. The material may contain forward or backward-looking statements regarding intent, beliefs regarding current or past expectations. The views expressed are subject to change based on market and other conditions. The information presented in this report is based on data obtained from third party sources. Although it is believed to be accurate, no representation or warranty is made as to its accuracy or completeness.The views and opinions expressed throughout this presentation are those of the presenter as of date the podcast is episode is published. The opinions or outlooks may change over time with changing market conditions or other relevant variables.Some of our podcast guests may be clients. There was no compensation exchanged for their participation.