Wealth Transfer Strategies: How to host family meetings to facilitate smoother wealth transfer

Learn wealth transfer strategies from Summit Brokerage before sitting down with your family.

Wealth Transfer StrategiesThe desire to continually build wealth, and transfer this wealth as your legacy to your family, is great among many people today. And while a financial advisor can help you create a larger, stronger financial status, you may be wondering how to get your family members onboard regarding wealth transfer. Unfortunately, the conversation of wealth transfer tends to occur when a difficult situation has already occurred. This could be moving a parent into an assisted living home, a death in the family, or an unexpected health diagnosis. These types of situations can make conversations about wealth transfer strategies stressful. The key is having a plan in place ahead of time. So, how can you host a family meeting to facilitate a smoother wealth transfer?

Here are five of our top wealth management and transfer tips for you and your family:

1. Think sooner than later

When a crisis occurs, quick decisions can be made and may not be the best for everyone involved. If you are planning on transferring wealth to your family, consider having the conversation in the near future. Set a goal, for example to have the meeting in the next month, and begin making a list of who should attend. Invite family members and have your financial advisor in attendance, if you wish.

2. Consider comfort

It isn’t easy to have conversations about what the future may hold in terms of aging, potentially getting sick, and passing away. To make the process smoother for everyone involved, be sure to hold your meeting in a relaxing, comfortable place. It could be a hotel conference room, private room in a restaurant, or a neutral setting in one’s home.

3. Plan your agenda

Create an agenda beforehand in order to have the meeting run efficiently. Consider a variety of topics to discuss; this may include family values, personal matters, asset allocation, inheritance planning, asset protection, philanthropic goals, etc. Also, consider if you want a facilitator for the meeting and who would be the best person in that role.

4. Share your legacy

Meetings about transferring wealth are an ideal time to share with your family where you have come from, what you have been able to achieve, and what legacy you would like to leave behind.

5. Create a Respectful Environment

Topics such as wealth management and who will be an heir to what can spark certain emotions. Be respectful of others, speak for yourself in terms of “I” and not “we,” and ask other members to do the same. Whoever you choose as your facilitator will have the task of keeping everyone on point and speaking up if someone is being overbearing or interruptive.


These are just a few tips for your wealth transfer meeting with family members. Your financial advisor can share other wealth transfer strategies, help you plan an agenda and more. With research showing a large percentage of transferred investments and wealth never surviving for the person’s great-grandchildren to see it, creating a legacy plan today is crucial.

Learn more about wealth management at Summit Brokerage. Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit https://www.summitbrokerage.com or call us at (800) 354-5528.


To learn more and find a local Summit Financial Advisor you feel comfortable with, both personally and professionally, visit https://repoffice.summitbrokerage.com/locator/index.aspx


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.

About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit www.ceterafinancialgroup.com.

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, The Legend Group and Summit Brokerage Services.

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