Campden Wealth Research and Morgan Stanley Private Wealth Management’s ‘Family Decision-Making’ study maps decision-making within UHNW families in North America. The results find a growing formalisation of decision-making and evidence of democratisation. Family advisors emerge as the single largest influence upon decision-making. Analysis of the effects of decision-making show that involvement in decision-making has a positive impact on family relationships.
The study draws on a quantitative survey of 59 individuals from North American families of net worth in excess of $25 million who are actively involved in financial decision-making, as well as 15 in-depth qualitative interviews with wealth holders.
This report will educate and inform family members, and provide advisors with strategies to better engage with families.