WALTHAM, MA – Coventry Edwards-Pitt, Managing Director at Ballentine Partners, was quoted in a recent article Investment News: “Dear Mom and Dad: Camp is great; I won a medal for investing!”. The article discusses how for some children of the extremely affluent, summer will mean taking part in special programs designed to help them deal with issues surrounding wealth.
Covie Edwards-Pitt, an adviser with Ballentine Partners LLC, also thinks that younger members of wealthy families are better off receiving training about finances and financial responsibility from an independent source. “It’s important to disaggregate their experience with money from their relationships with their parents,” she said. “They need to experience an independent sense of ownership of money.”