MarketWatch interviewed author and Chief Wealth Advisory Officer, Coventry Edwards-Pitt, CFA, CFP®, on what steps baby boomers can take now to make sure they’re prepared in the event of cognitive decline in their later years. Speaking from both professional experience and research on her new book, Aged Healthy, Wealthy & Wise, Covie explains how advisors often have their hands tied when trying to help clients who may be dealing with cognitive decline. In her book, Covie details some of the steps people can take to prepare themselves and their families so that in the event of dementia stress and conflict are minimized in order to have the best later years possible.
“We have to imagine possible futures in which we are unable to plan or speak for ourselves and then do that planning and speaking now,” Edwards-Pitt said.
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Coventry Edwards-Pitt, CFA, CFP®, is the Chief Wealth Advisory Officer at Ballentine Partners, a firm that specializes in providing investment and wealth management advice to wealthy families and entrepreneurs. She began her career at Goldman Sachs after graduating from Harvard University. Covie has been recognized as one of the “50 Most Influential Women in Private Wealth” (Private Asset Management 2016). Covie is also the author of Raised Healthy, Wealthy & Wise: Lessons from successful and grounded inheritors on how they got that way (2014). Since its publication, Covie has spoken at over 70 events for wealth owning families and their advisors, sharing the book’s key messages about what works when raising children amid wealth. She lives in the Boston area with her husband and daughter. Learn more about Coventry Edwards-Pitt.