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Wealth of Wisdom

The Top 50 Questions Wealthy Families Ask

TOM McCULLOUGH | KEITH WHITAKER

Wealth of Wisdom offers essential guidance and tools to help high net worth families successfully manage significant wealth.

By compiling the 50 most common questions wealthy families ask, this book provides a compendium of knowledge from experts around the globe and across disciplines.

The deep insights and thoughtful answers in the book will help you make more informed decisions about your financial legacy. The advice and practical tools will help you get organized, develop a strategy and take real control of your family's wealth. And the many examples, stories and case studies will show you how other families have handled the very dilemmas you may be facing today.

Managing significant family wealth is a complex affair, and successfully navigating the route involves making critical decisions. This book equips you to take positive action, be proactive and make the tough decisions to protect and grow your family's wealth.

  • Ensure your family’s financial success and legacy
  • Access insights and examples from leading experts
  • Adopt the most useful tools and strategies for wealth and family management
  • Learn how other families have successfully navigated common dilemmas

When your family's wealth is at stake, knowledge and sound advice is critical. Drawn from interactions with hundreds of wealthy individuals and their advisors, Wealth of Wisdom provides a definitive resource of practical solutions to the important questions of family and wealth from the best minds in the world.

Wealth of Wisdom Podcast view all episodes

EPISODE 14: Jay Hughes – What Does the Future Hold for Families with Significant Wealth?

Jay can rightly be said to be the founder of the field of family wealth. In this discussion he reflects on the journey that brought him to this work, his current role as an elder, and the paramount importance of elders for families who wish to succeed over generations. Jay also discusses the true meaning of the proverb “Shirtsleeves to shirtsleeves in three generations” (hint: it’s not just about money) and specific practices that families can and must adopt to face a future of radical changes.

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EPISODE 13: Jamie Forbes – How Can You Preserve a Beloved Family Vacation Home or Estate?

There are few assets that generate as much emotional heat as a family vacation home or estate. Jamie Forbes knows the power of family vacation property through his growing up part of the Forbes family, with their shared estate of Naushon Island off Cape Cod, which has been in the family for over 150 years. In this podcast Jamie shares specific practices that his family and others use to strengthen family communication and decision-making. He also talks about what it is like to grow up as a member of a prominent family, both the positive and negative aspects of the experience.

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EPISODE 12: Covie Edwards-Pitt – How Can Your Family Encourage Financial Literacy in Every Member?

This is a question that practically every parent asks, whether or not they have money. But wealth can deprive children of the natural education in financial literacy. Coventry Edwards-Pitt has written an entire book about how successful heirs develop healthy money skills. In this podcast she shares concrete practices that parents can adopt, whether you are parenting young children or adults.

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About the Authors

Tom McCullough

Tom McCullough is Chairman and CEO of Northwood Family Office, a leading global multifamily office based in Toronto. He has spent over 35 years in the wealth management/family office field, initially in senior executive roles with RBC Wealth Management. Tom co-founded Northwood Family Office in 2003 and it has become one of the leaders in its field.

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Keith Whitaker

Keith Whitaker is President of Wise Counsel Research. He has consulted for many years with leaders of enterprising families, helping them plan succession, develop next generation talent, and communicate around estate planning. With a background in education and philanthropy, he enables family leaders to better understand their values and goals as well as to have a positive impact on the world around them.

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