A common discipline that high-net-worth individuals share when building and sustaining wealth for future generations is the appreciation for entrepreneurship.
Eric Enslin, CEO of FNB Private Wealth and RMB Private Bank, says almost every wealth management strategy encompasses some form of entrepreneurship.
“For families who have already made their fortunes, emphasis is often placed on passing on legacies to a younger generation of leaders who will be responsible for breathing new life to well established corporations or scaling high growth potential businesses to new levels of growth,” says Enslin.
Entrepreneurship in this context can only be successful if a solid wealth management plan, which encompasses goals and aspirations, has been established. When executed correctly the model and principles can be replicated across multiple generations.
Enslin says wealthy families abide by four common principles when using entrepreneurship to build prosperity:
“Lastly, while wealth advisors work behind the scenes, the contribution they make in helping families to structure their businesses, estate planning and succession planning is invaluable. As a result, every business decision or new venture undertaken has to align with the broader wealth objectives,” concludes Enslin.
Foodie Mag, a new South African food publication, is excited to announce its launch as…
Nine80 Digital Media, a leading media company, has unveiled its latest endeavor aimed at empowering…
President His Highness Sheikh Mohamed separately met with President Hakainde Hichilema of Zambia; Nana Akufo-Addo,…
The group of States to be reviewed by the UPR Working Group during this session…
GENEVA, Switzerland, January 19, 2023/APO Group/ -- A court in South Africa has admitted several…
NEW YORK, United States of America, January 20, 2023/APO Group/ -- A South African court…
This website uses cookies.