Your Kid Wants Help Starting a Business? Be Careful

Even when it’s family, or maybe especially when it’s family, you must treat such a proposition as strictly business. Get answers to these 4 questions to avoid risking it all.

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Parents would love to give their kids every opportunity in the world, but when your adult children come to you asking for financial support in starting a business, is it really a good idea? Offering your children advice and encouragement while they begin a new venture is one thing, but financial involvement can put a parent’s hard-earned money at risk — not to mention add stress to the parent-child relationship.

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Matthew Helfrich, CFP
Partner and President, Waldron Private Wealth

Matt Helfrich is President of Waldron Private Wealth, a boutique wealth management firm located just outside Pittsburgh, Pa. He leads Waldron's strategic vision, brand and value proposition and overall culture of the firm. Since 2002, Helfrich has served in a number of roles including: Chief Investment Strategist and Chief Investment Officer, where he was instrumental in creating and refining Waldron's investment discipline.