MANAGING FAMILY WEALTH, TV STYLE
By Dian Vujovich
Special to the Daily News
MANAGING WEALTH ACROSS GENERATIONS
James Grubman, Ph.D., is a wealth consultant and author ofStrangers in Paradise, How Families Adapt to Wealth Across Generations.
He points out things to keep in mind in traversing the challenges of wealth management:
*Family meetingsto help educate and inform. Issues might include setting family meeting policy and procedure, teaching members about money management and learning to view family wealth in business terms.
*Allowances.He says they’re the best way to teach children about financial responsibility.
*Marriage. In a financial nutshell, “Who you marry is more important than the college you choose,” Grubman said.