Our Chief Wealth Advisory Officer, Coventry Edwards-Pitt, CFA, CFP®, was quoted in the Investment News article Help wealthy clients to avoid deadbeat kids. Children raised amongst wealth often face a unique set of challenges when learning about motivation, accountability, and what it means to succeed. Covie discussed how certain “success factors” are key in understanding if a child is prepared to handle money, and especially financial gifts, responsibly.

“But better than pegging it to an age, she recommends parents look at whether their children have attained certain ‘success factors,’ which she identified doing research for her book, ‘Raised Healthy, Wealthy and Wise’ (BP Books, 2014).

‘If a young adult has developed these four factors they will be well prepared to handle financial gifts,’ Ms. Edwards-Pitt said. ‘If not, financial gifts can be derailing and stop them from moving forward.’”

Read the full article here.

Covie is a Partner and the Chief Wealth Advisory Officer at the firm.  In her role, Covie is responsible for thought leadership for the firm, including the development and management of the firm’s family education, family governance, and philanthropic offerings.  Covie also leads several of the firm’s large family client engagements and manages all aspects of her clients’ financial affairs, including their investment portfolios, tax and estate planning, insurance needs, philanthropic planning, and liquidity planning.  Covie specializes in helping her clients to manage the impact of their wealth and ensure that their comprehensive wealth management strategy reflects their families’ values and goals.  Learn more about Coventry Edwards-Pitt.

Her book, Raised Healthy, Wealthy & Wise: Lessons from successful and grounded inheritors on how they got that way, is available on Amazon.