Preparing our Next Generation of Africans for Wealth & Entrepreneurship


Next Gen Cloud v2

Wealth stewardship is of prime importance for ensuring that future generations are prepared and fully capable of safeguarding hard-earned assets. The strategic preparation of the next generation allows for the long-term survival of wealth or the family business. Although many families realise the need for preparing the next generation, they lack a comprehensive and strategic succession plan. Studies show that 70% of family wealth is lost by the end of the second generation. In fact, only a third of all family businesses successfully make the transition to the third generation.

 

A lack of adequate communication amongst family members and unprepared heirs is one of the underlying factors that impedes the smooth transition of wealth. Communication with the Next Generation is key, as is the need to nurture and enhance their entrepreneurship skills.  W8 Advisory has outlined a plan in the following article…  (to read the full LinkedIn article by Bimpe Nkontchou, please click here.)


Members of our group

W8 Advisory

W8 Advisory is a unique wealth management practice, established in the best stewardship tradition of a Family Office.

W8 Wealth

As wealth advisors to African entrepreneurs and families, our mission is to serve the growing, complex and unique needs of our clients.

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