Managing Family Wealth

In this space, WestBow Press publishes articles written by our authors in which they share some aspect of their self-publishing journeys. The following blog is from Kip Kolson, author of “The Legacy Family; Father, Son, and ‘Holy Coach.'” You can learn more about Kip by visiting his author website. To begin your self-publishing journey, get a free WestBow Press publishing guide today!

An Inside Perspective

If your job involves helping people, you may feel limited to working only with those whom you interact directly. This was my situation. My work and message of hope was confined to four office walls.

I am the owner and president of Family Wealth Leadership, a wealth management and registered investment advisory firm. Working with business owners and their families, I’ve learned that wealth does not always bring happiness or peace. Unfortunately, more often than not, wealth creates complexity, discontent, and even relational conflicts.

Managing Wealth

Our company works to successfully build and preserve families’ financial wealth. After working with many families, we realized that wealth was often a catalyst for problems. Because of this, we decided to expand our services to include family coaching. There are hosts of people who do a good job of addressing the financial side of wealth management, but that is where it stops. Relationship counselors, therapists, and psychologist are necessary to work on the “people” issues. The problem is, most don’t understand that money and people are a toxic combination.

Money and people are intertwined: impossible to separate. Whether money causes people problems, or vice versa; they must be addressed simultaneously for progress to be long-term. We are one of the few firms that works on the four Ts of True Wealth; Time, Talent, Training, and Treasures. We believe the family, and everyone in it, has a desire to be significant. Significance can only be achieved through serving others and being a good steward of the four Ts of True Wealth. This is what family coaching is all about.

Family Coaching

Family coaching is a time-intensive activity. We only are able to work with a few families a year. Yet, we still wanted to help more people. We wanted to alert families of the historical statistic that 70% of their wealth will be lost each time it passes to the next generation and completely gone in three generations. Worse, often families will be in disarray and antagonistic. How could we help more people through the trial of wealth management? The answer was writing a book, thus The Legacy Family; Father, Son, and “Holy Coach” was birthed. This book describes the symptoms of what we call “affluenza” and the preventative treatments every family can use to unite their family and build a legacy. The “Holy Coach” was my metaphor for backing up the recommended treatments with truth and solid principles that have proven successful for thousands of years.

Fuel Your Passions

I am a first-time author and I have a passion for families because I believe as the family goes, so goes our society and world. Like all authors who write these types of books, I would like to think I might be able to make a positive difference in peoples’ lives. Whatever your passion is, I encourage you to devote some amount of time every day to following through. I wrote a 300-page book on my smartphone which is always with me. I could write a little whenever I had a thought and some quiet time: like lunch, a waiting room, or airport. No matter how busy you are, you have enough time to achieve your significance. Just do it! Serve others rather than yourself, and be a good steward of your Time, Talent, Training, and Treasures.

– WBP –

WestBow Press authors who’d like to share a 350-600 word experience related to the self-publishing of their books are invited to do so by sending a message through the WestBow Press Facebook page and follow the WestBow Press Twitter account @WestBowPress. WestBow Press reserves the right to edit stories for content, grammar, punctuation, and length. 

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