Richard Joyner and Jeff Strese Share Insights on “Preparing the Next Generation of Beneficiaries”

January 29, 2018
2 Min read

Family Office Exchange (FOX) featured Tolleson Wealth Management’s Richard Joyner, President and Jeff Strese, Family Learning Consultant, on its blog series. In the article, “Preparing the Next Generation of Beneficiaries,” Joyner and Strese offer important insights and questions that families of high-net wealth should consider.

Preparing children and trust beneficiaries as the next generation is a hot topic in the world of high net wealth. Many families are unsure how to navigate this process as children grow up and become more aware of the “money narrative.” Purposeful guidance and coaching is an important aspect of family planning. Joyner and Strese address and answer four important questions in this planning process:

  1. What age should we begin teaching our kids and at what level?
  2. What and how should we teach them? Everyone’s minds race directly to financial literacy, but what does that mean?
  3. Who should teach them? Should they just watch other family members and emulate (or avoid) the behaviors they observe, or should they attend organized classes to look for opportunities to interact with peers and make their own mistakes?
  4. How do you know whether the process is working?

More communication, education and information play an important role in successfully raising the next generation. Tolleson Wealth Management is experienced in helping with these tough conversations and decision-making under its Family Education & Governance service.

To read Joyner and Strese’s full article, visit:

Joyner and Strese will speak on this topic at the FOX Private Family Trust Company Workshop™ Feb. 21-22 in Fort Lauderdale, Florida.