“The father buys, the son builds, the
grandchild sells, and his son begs.”
- Scottish Proverb
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Wealth advisors Pat Bria and Jim Tucker, CFP®, CRPS®are committed to helping families break the cycle of“rags to rags in three generations.”
“Wealthy families lose 65-70% of their family worth bythe second generation and a staggering 90% by thethird.* As advisors, we would be doing our clients adisservice if we didn’t help them prepare their heirsto steward family assets for generations to come,”say the co-founders of Tucker Bria Wealth StrategiesLLC, an independent wealth advisory firm based inDurham, North Carolina.
Because Life Alters Wealth®
The largest transfer of wealth in history is occurringas the “Greatest Generation” ages away. Thesenonagenarians hold the bulk of the nation’s wealthbut are inclined to be secretive about their affairs.While they don’t want to be a burden on theirfamily, they often blindside children when detailsabout holdings, debts, long-term care insurance, lifeinsurance, charitable intent, and final wishes cometo light.
The advisors at Tucker Bria see one of their primaryroles as encouraging clients and their families tobegin developing open dialogue around family history,money and values. “Without frank family discussions,we rob ourselves of a golden opportunity to transferfinancial assets efficiently and to pass along deeplyheldfamily values,” explains Bria, a 20-year veteran inthe securities industry. “We encourage all our clients,regardless of the size of their portfolio, to arrangemeetings for their nuclear and extended family.”
Tucker adds, “A strong sense of family-connectedness in today’s mobile society rarely develops accidentally.” Tucker, aHarvard Business School graduate, knows this first hand. “Whether purposefully, or by accident, my grandfather and hissix siblings, started ‘Cousins Club’ to keep our family connected. Now welcoming our fifth generation of cousins, we stay intouch through Facebook and reunions – we long ago recognized every cousin couldn’t be invited to each of the family’s lifeevents.”
Tucker and Bria believe the experiences of family members…even painful family conflicts…are treasures that can be shared.At a young age, children can begin to understand how they fit into the family structure and hear concepts such as payingdebts and saving for the future. As they become young adults, they’ll have an anchor that can help them as they emergefrom the rebellious teen years. Bria says, “In a world that at times can seem over-whelming and cold, having the anchor offamily is one of the greatest gifts out there.”
High-net-worth Planning for the Mass Affluent
With a combined 36 years of experience, Tucker Bria’s team of wealth advisors design comprehensive financial plansbased on each family’s human capital, intellectual capital, and fiscal resources. They skillfully integrate the soft issues(family mission statements for example) with complex issues such as wealth building, risk management, retirement income,taxation, and estate plans.
As advisors, Tucker Bria offers fully transparent processes, services, and fees. They work with trusted partners in the areasof investing, wealth planning and private banking.
The firm’s affiliation with Commonwealth Financial Network® is a game changer. “You don’t have to be an institutional orcorporate investor to tap into sophisticated resources,” says Tucker. “Our clients, from young families just beginning tobuild their assets to those transitioning into retirement, benefit from working with us and Commonwealth, the nation’slargest privately held independent broker/dealer.”
“Our advisory model is about family,” concludes Bria. “We understand how lifeevents impact your financial wellness. Our goal is to teach people to leveragefamily assets of people and experiences, in addition to wealth, to enhance theirlives and the generations coming behind them.”
Tucker Bria Wealth Strategies, LLC provides wealth advisory services to clients as far north as Alaska and south to Florida.Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Advisor.* Williams Group Wealth Consultancy and WealthCounsel
This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
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