Lessons from inheritors and their significant others on how they have navigated love and family wealth and forged their own joint path
Nationally recognized wealth advisor Coventry Edwards-Pitt applies the success-story format of her previous books, Raised Healthy, Wealthy & Wise (2014), and Aged Healthy, Wealthy & Wise (2017) to her newest book Engaged Healthy, Wealthy & Wise, which offers a roadmap for inheritors and their significant others on how to navigate love and family wealth and forge their own joint path.
When a young inheritor announces that they have met “the one” – their chosen life partner whom they hope to marry – the wheels of the wealth advising industry whir into motion. Advisors recommend prenuptial agreements, wealth-owning families discuss how transparent to be about the family’s financial situation, and white papers offer best practices about how to “onboard” the new partner to the wealth-owning family’s cultural and financial ecosystem. The prevailing motivation underlying this flurry of planning is risk management, defined largely as preservation of the wealth-owning family’s financial assets and cultural ethos.
But amid all of this, there is a young couple in love. What does it feel like to be this young inheritor (who might still be trying to forge a differentiated sense of self amid the backdrop of inherited wealth) and their partner, for whom all of this is new and largely irrelevant, or at least tangential to how they feel about their significant other and their vision for their lives together? How does it feel when the possibility that defines this tender time of life runs smack into the formal frameworks inherent in most wealth management ecosystems? And how can a young couple make it through with their love, partnership, and faith in each other not only intact but stronger on the other side?
That is what this book is about. It’s about the perspective of these young people who are rarely asked for their views by an industry that is employed largely by their parents’ generation. And it is about how they have navigated the journey of forging a strong union and fulfilling life path with their chosen partner amid the complexities of inherited family wealth.
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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 is also the author of Raised Healthy, Wealthy & Wise (2014) and Aged Healthy, Wealthy & Wise (2017). Covie has spoken on the books at over 150 events for wealth-owning families and their advisors and consults to individuals about how to implement the books’ best practices in their own families. She lives in the Boston area with her husband and daughter.