- Paperback: 110 pages
- Publisher: Harvard; 2nd edition (June 30, 2006)
- Language: English
- ISBN-10: 0978634500
- ISBN-13: 978-0978634506
- Product Dimensions: 8.9 x 6 x 0.4 inches
- Shipping Weight: 2.4 ounces
- Average Customer Review: 4.4 out of 5 stars See all reviews (16 customer reviews)
- Amazon Best Sellers Rank: #150,341 in Books (See Top 100 in Books)
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Wealth in Families Paperback – June 30, 2006
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Top Customer Reviews
If you want some benchmarks, the lowest net worth he deals with at one point is $15-30 million where he advocates giving your children $1-2 million (although also suggesting that some families lean towards $3-5 million) If you have greater net worth, he advocates a higher number ($10-15 million per child if your net worth is over $100 million) - but there is no real justification for any of the numbers - nor any suggestions for people with lower net worth.
However, even if you do have significant wealth to pass on to your heirs (and society), this book is probably not the right starting point. Mr. Collier does not have much of his own thought to share as much of the book consists of long quotes from others and interviews with a variety of other authors and experts. It all comes off a bit disjointed, with many ideas not fully developed.
An example: midway through the second chapter, Mr. Collier redefines wealth into four different categories: human, intellectual, social, and financial (the latter is what people typically think of when the word "wealth" is used. Expanding on these could be a major theme of the book but instead, after this brief mention, Mr. Collier drops the topic until chapter 5 (where he erroneously references chapter 1 as the place where he introduced the topic).Read more ›
Collier's Socratic, humanistic, and therapeutic approach to consulting, could help any family unit- whether of significant means or not- by helping them to structure a discussion around those issues impeding their healthy growth.
Charlie Collier is a brave pioneer in the world of family wealth planning. Collier takes an indirect, non-judgmental approach to helping families have break-through conversations. Collier's hope is that his approach will unlock answers- by helping his clients to look within their own hearts. Collier makes it clear that he has no 12-step program or silver bullet. He avoids the sophistry of so many consultants and gurus, who falsely claim they have the hidden key.
Collier doesn't hide from the truth that problems confronting every family are a complex and messy layered onion. And that it is only through raising poignant questions, listening, and resisting the urge to cast judgment or explain using neat theories that advisors can help bring about beneficial change for their clients.
Collier's main theory is that family issues, which stand in the way of financial decisions, are always far deeper than money. Barriers to change are the product of complex family dynamics that require time and ardent communication to unlock. Collier believes that as a development officer, wealth manager, advisor, or whatever, the only way to help a family work with what they are up against is to listen, be non-judgmental, and ask the right questions.
|Length: 2:33 Mins|
Of particular interest is the fact that the author deals directly with the responsibilities of controlling a lot of money. Responsibility to oneself, family and society as a whole. The author discusses situations involving assets of around 12 million or greater but the concepts and lessons embedded in this book apply to any family that is financially comfortable, even those rather modestly so.
There are values, morals and ethics embedded in this book that make us think about money in different ways and, as such, the book is a great success.
Most Recent Customer Reviews
Not just for the rich. Highly relevant to our upper middle class family that wants to conserve as much our assets as possible.Published on November 13, 2013 by douglas powell
Very practical advice dealing with the challenges of wealth and it's impact on family relationships. Read morePublished on October 29, 2013 by Black and White
Planned gift professionals in the upper echelons of educational philanthropy are apt to know of Charlie Collier's innovative work advising wealthy families as part of Harvard... Read morePublished on June 22, 2013 by GskFn
My husband wanted this book.
He is in a discussion group with a dozen other men.
This was the basis of their discussion one session.
Collier ably defines wealth beyond the usual moneyed clichés. Working as a senior philanthropy advisor at Harvard he is well versed in the financial side of giving, but his... Read morePublished on February 20, 2012 by Jennifer Lynch