We understand that true wealth is about well-being, not simply the accumulation of money. Money is just one of the tools that you and your family can use to move towards your vision of multigenerational success. Our team helps you articulate what success means to you and then build the skills, competencies, and plans to move towards that vision.
To reflect our heightened focus on integrating the full range of elements that contribute to true wealth, we have structured our service offering around five types of capital that for many families define individual and family thriving:
- Legacy Capital: The foundation of the family as expressed through values, vision, mission, and purpose. We help families articulate shared values, define the purpose of their money, and build lasting cohesion through family story telling.
- Relationship Capital: The ability and desire to communicate, work and play together with caring and supportive relationships. We help families figure out leadership succession, work together across generations and develop right-sized governance (decision making and structures) that reflect the family’s culture.
- Financial Capital: Financial assets and the knowledge, skills and structures to use and steward it. We help families align their goals for thriving and their estate plans, gift with confidence (and tax efficiency), and address the emotional impact of inheriting.
- Human Capital: An individual’s identity, character, skills, passions and health. We help parents navigate raising kids in an unfamiliar financial reality, Rising Gens find their voice, and family members move gracefully from one life stage to the next.
- Social Capital: Connections to and impact on the world outside of the family – using time, talents, ties and treasures. We help families pursue impact in ways that reflect the best of who they are, whether developing large-scale foundation strategies or bringing greater intimacy to family philanthropy.
Looking Ahead
Looking ahead to 2025, we plan to hold a webinar series exploring each of these five capitals, featuring members of the team as well as external guests. I will also continue to share my views through Wealth Management Perspectives posts like these:
Would you like explore the challenges and opportunities of any of these five capitals? Reach out through your advisory team to learn more and to open a conversation with us.
Additional 2024 Year-End Insights
Year-End Insights from Pathstone Leadership. As we head into the holiday season, Pathstone CEO Matt Fleissig and President Kelly Maregni share some brief reflections on 2024 and their excitement for the year ahead, in this video.
Professional Services at Pathstone: Pathstone’s tax, personal CFO, and risk management teams create a client experience where the sum is greater than the parts. In an interview that brings this value to life, Managing Director Jimmy Whalen talks with Janet Brantley, EMD and head of Tax Planning & Compliance, and Amy Geiger, MD and head of Personal CFO Services, about their comprehensive services and collaborative approach. Watch the interview here.
Wealth Planning and Tax Matters Year-End Update: As we approach the close of another year, we want to take a moment to update you on important wealth planning and tax matters that may affect you in 2024 and into 2025. Specifically, the recent elections as well as the sunsetting of many provisions from the Tax Cuts and Jobs Act (TCJA) could influence tax planning and strategy in the year ahead. Given the uncertainty surrounding the repercussions of both, it’s critical to review your tax situation to ensure you’re making informed decisions. Learn more here.
Disclosures
This presentation and its content are for informational and educational purposes only and should not be used as the basis for any investment decision. The information contained herein is based on publicly available sources believed to be reliable but is not a representation, expressed or implied, as to its accuracy, completeness or correctness. No information available through this communication is intended or should be construed as any advice, recommendation or endorsement from us as to any legal, tax, investment or other matters, nor shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this communication constitutes investment advice or offers any opinion with respect to the suitability of any security, and this communication has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient. Past performance is no guarantee of future results. Additional information and disclosure on Pathstone is available via our Form ADV, Part 2A, which is available upon request or at www.adviserinfo.sec.gov.
Any tax advice contained herein, including attachments, is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of (i) avoiding tax penalties that may be imposed on the taxpayer or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
No Legal, Accounting or Tax Advice. Pathstone will act solely in its capacity as a registered investment advisor and does not provide any legal advice. Though Pathstone can provide accounting and tax services, the client should seek the counsel of a qualified accountant and/or attorney when necessary. Pathstone may assist clients with tax harvesting, and we will work with a client’s tax specialist to answer any questions related to the client’s portfolio account.
