The Top 5 Succession Planning Tips for Private Wealth Managers - Interview: Katherine Lintz, Financial Management Partners - Private Wealth Management Summit

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For more information contact: emailus@marcusevans.com

Katherine Lintz who is the Founder and Partner at Financial Management Partners and a speaker at the marcus evans Private Wealth Management Summit Spring 2013, shares succession planning best practices.
Join the 2014 Private Wealth Management Summit along with leading regional investors in an intimate environment for a highly focused discussion on the latest investment strategies in the market.

For more information contact: emailus@marcusevans.com

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The Top 5 Succession Planning Tips for Private Wealth Managers - Interview: Katherine Lintz, Financial Management Partners - Private Wealth Management Summit

  1. 1. The Top 5 Succession Planning TipsIn private wealth management, the succession planning process has to start early, and take intergenerationaldifferences into consideration, says Katherine Lintz, Founder and Partner, Financial Management Partners. A speaker at themarcus evans Private Wealth Management Summit Spring 2013, in Atlanta, Georgia, June 2-4, Lintz highlights bestpractices that will help families and firms with succession.Succession has to be thoughtful. Planning for the next generation means encouraging the current leaders to makespace for the next generation in the governance of the firm, family or business. A thoughtful succession plan takes anumber of years to form, because it involves the skills development of the next generation, practice in working together tomake good decisions and slowly integrates the next generation’s point of view of the world into the leadership of the family.Self-awareness is required. Good succession planning requires a lot of self-awareness, generosity of spirit on the firstgeneration’s part, patience on the second generation’s part and focused energy from both parties, to recognize that theyboth have quite a bit to contribute to the process. They must respect that there are different generational values and pointsof view, as well as different styles of investing and management.Create an open forum. For best results, combine all of the talent and energy into an open forum. To do that, manyfamilies and firms will need outside advisors to facilitate the process. It is sometimes difficult for people to realize wherethey are and be open to other ideas.Recognize that this is difficult and requires a commitment to be successful. To do this well takes decades, not afew meetings. So start early. Start the succession planning process early enough to allow for the years that it takes to getthis rich evolution in wisdom sharing to make the family stronger. Many firms and families mistakenly put off starting theprocess because it can be awkward and they feel that they can simply kick the can down the road. This delay increases therisk of a bad result and creates uncertainty.Practice. Have all generations at the table together, making decisions and learning how to govern together. Find ways toinvite and engage all family members in decisions. Set the table by providing education and one-on-one time with eachmember, to prepare them for the responsibility. The private wealth manager can play a very valuable role with families,and consultants can play that role with firms and family businesses. Independent voices are often very helpful in thisprocess.Katherine Lintz, a speaker at the marcus evans Private WealthManagement Summit Spring 2013, shares succession planningbest practices.Interview with: Katherine Lintz, Founder and Partner,Financial Management Partnersfor Private Wealth Managers
  2. 2. The Investment Network –marcus evans Summits groupdelivers peer-to-peer informationon strategic matters, professionalt r e n d s a n d b r e a k t h r o u g hinnovations.Please note that the Summit is aclosed business event and thenumber of participants strictlylimited.About the Private Wealth Management Summit Spring 2013This unique forum will take place at the Ritz Carlton, Buckhead, Atlanta, Georgia,June 2-4, 2013. Offering much more than any conference, exhibition or trade show,this exclusive meeting will bring together esteemed industry thought leaders andsolution providers to a highly focused and interactive networking event. TheSummit includes presentations on maximizing family legacy, manager selection,investment opportunities in the current market and ensuring the successfultransition of multi-generational wealth.www.privatewealthsummit.comAbout marcus evans Summitsmarcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsElite Summit (Europe) - www.elitesummit.comFoundations & Endowments Investment Summit - www.foundations-endowmentssummit.comUS Pensions Summit - www.uspensions-summit.comTo view the web version of this interview, please click here: www.privatewealthsummit.com/KatherineLintzContactSarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, SummitsDivisionTel: + 357 22 849 313Email: press@marcusevanscy.comFor more information please send an email to info@marcusevanscy.comAll rights reserved. The above content may be republished or reproduced. Kindlyinform us by sending an email to press@marcusevanscy.com

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