Campden Wealth Research and Morgan Stanley Private Wealth Management’s ‘Family Decision-Making’ study maps decision-making within UHNW families in North America. The results find a growing formalisation of decision-making and evidence of democratisation. Family advisors emerge as the single largest influence upon decision-making. Analysis of the effects of decision-making show that involvement in decision-making has a positive impact on family relationships.
The study draws on a quantitative survey of 59 individuals from North American families of net worth in excess of $25 million who are actively involved in financial decision-making, as well as 15 in-depth qualitative interviews with wealth holders.
This report will educate and inform family members, and provide advisors with strategies to better engage with families.
For more details please read the press release here.
The full report is contained here.