Wealth Psychology for UHNW Families

With great wealth comes greater responsibility

Most people do not recognize the impact that money or wealth can have on our emotional, mental, or financial well-being. Dr. Lami has seeing it firsthand in her personal and professional life. Thus, her focus is on delivering tailor-made solutions to match the needs of UHNW families, Family Offices and Family Businesses around the globe with the ‘non-financial’ challenges wealth presents across generations and cultures.

Most people do not recognize the impact that money or wealth can have on our emotional, mental, or financial well-being. Dr. Lami has seeing it firsthand in her personal and professional life. Thus, her focus is on delivering tailor-made solutions to match the needs of UHNW families, Family Offices and Family Businesses around the globe with the ‘non-financial’ challenges wealth presents across generations and cultures.

 

“Dr Lami has an ability to create trust and positive relationships with those she works with whilst maintaining authority and being able to challenge (even in the teeth of fierce resistance!).”

M.S.C.V, Family Business & Family Office, UK

Family Relationships & Communication

“In every conceivable manner, the family is link to our past, bridge to our future”. – Alex Haley

Families are uncomfortable talking about life challenges they may face. These can be emotional issues that need healing, differences that are hard to discuss, money matters or complex aspects surrounding their wealth. There are conscious and unconscious blockages that get in the way. These blockages create tension and inhibits parents, children and the following generations opening healthy and constructive dialogues between family members. Dr. Lami uses a process to help family members, individually and collectively, work through these challenges.

 

Resolving Conflicts & Disagreements

Families find it difficult to talk openly, especially when opinions are conflicted – it is easier to avoid the conversation than to talk about the conflict. However, when given the opportunity to voice their opinion and express their differences, in a safe and constructive environment, while guided to understand the root of their conflict and how to resolve it, the result is usually positive and pleasantly surprising!

 

Some other aspects UHNW family members are looking to resolve:

Title
Challenges Clients Wish to Resolve
  • Learning how to deal with family expectations across the generations
    Helps family members understand the complex psychologies behind their relationships with each other and with wealth
  • Understand & accept responsibilities and roles
  • Learning to accept each other’s views without being dismissal or alienating other views
  • Improve sibling relationship & strive for equality
  • Women voice that matters and heard
  • How to handle board meetings discussions & AGM’s
  • Help with integrating new family members
  • Helping people address complex issues around money and relationships
  • Understand the non-financial aspects of wealth transfer and estate planning
  • Creating a guiding document or a system for generations to come & for people who join the family
  • Reversing unhealthy behaviors and attitudes
  • Help with children’s’ unhealthy behaviors
  • Help with non-financial wellbeing
  • How to prepare the next generation to deal with their wealth and responsibilities
  • Building confidence and knowledge about the family’s wealth system
  • Transforming people’s ability to contextualise and enjoy their lives.

For more information please get in touch here →

Relationship with Money: Non-Financial Wellbeing

Dr. Lami believes that we all have relationships with money, whether we know it or not. In the face of our faster changing world, understanding our relationship with money and wealth and how it affects our emotional, mental and physical wellbeing as well as and peace of mind. Most of us have developed unhealthy relationship with money, which can sabotage feelings of happiness, as true happiness can’t be bought with money. Instead, happiness comes from nurturing our inner being, or our ‘inner wealth’. Some of the aspects that are covered during this process are:

  • The meaning of wealth and its effect on individuals and the family
  • Understand your relationship with money and its impacts on self and others
  • How to guide Newcomers’ joining the family
  • Understanding how to deal with money, wealth, and responsibilities
  • Identify unhealthy or dysfunctional money behaviors and attitudes
  • Heal unbalanced relationship with money
  • Learn about family members money style & personality
  • The impact of family history across generations

For more information please get in touch here →

 

Succession Planning & Wealth Transfer

Preparing Your Children:
How to prepare the next generation for wealth transfer & wellbeing

“When wealth is lost matter is lost, when health is lost something is lost, when character is lost, all is lost.” – Billy Graham

Preparing children for successful wealth transfer does not happen overnight, it’s an educational and emotional process that takes time, and should be an integral part of parenting.

Research show that 95% of wealth loss is due to unprepared heirs, and only 5% of it is lost due to poor financial planning.

Therefore Dr. Lami developed her Pillars for Wealth Parenting ©. An educational process based on her PhD research findings that equip parents with the necessary knowledge and tools to facilitate a successful wealth transfer.

For more information please get in touch → 
Estate Planning

How to ensure successful wealth transfer

Estate planning and transferring wealth to the next generation are both a practical and emotional process. Often with children and inheritance the idea of when and how to give our money away can make us feel uneasy. It evokes various feelings and highlights our relationship with money, our children and ourselves. In today’s world, the complexities of estate planning require the consideration of many different aspects.

During this process, the emotional aspects – or the “soft issues” – of estate planning and wealth transfer are often pushed aside or overlooked. Dr Lami has observed the harmful side of it in her work with inheritors.

Prior to starting the process of estate planning, parents should consider the emotional aspects that are associated with it and will help ensure balancing your needs and your children’s. Important aspect to consider.

  • What is the best age to give our children their inheritance without negatively affecting their behavior, drive and ambitious?
  • What are the practical, mental and emotional consequences of our decisions?
  • What is best for our children: To distribute the inheritance equally or treat each of them differently based on their personality and life circumstances?
  • How do we properly talk with our children about our estate plans and their inheritance and prepare them for wealth and the responsibilities that come with it?

Before you make a decision that could possibly hurt your children, please consult with Dr. Lami on how to best navigate the emotional challenges of estate planning and using her Estate Planning Workbook.

For more information please get in touch → 

Family Retreats

Bringing Families together

“Feelings of worth can flourish only in an atmosphere where individual differences are appreciated, mistakes are tolerated, communication is open, and rules are flexible – the kind of atmosphere that is found in a nurturing family.”  – Virginia Satir

Relationships between family members can be complex and emotionally charged. Bringing families together is what our family retreat can do!

Family members learn how to develop healthy communication skills and establish stronger relationships.

 

“Dr Lami has delivered outcomes that have reversed years of unhealthy behaviours by helping me and family members understand the complex psychologies behind our relationships with each other and with wealth.”

M.S.C.V, Family Business & Family Office, UK

Dr Lami aims to provide a safe and supportive environment where you can explore and address feelings of hurt or anger, as well as help you to develop an action plan that will move your family toward healing and deeper connection.

While meeting together as a family in a beautiful resort away from the familiar environment and the triggers of certain conversations, your family is given the ability to talk about subjects that we identify in advance.

Research show that having families meet to discuss various matters is important to family members and it is a key to the family’s wellbeing.

Dr Lami works with families helping them to identify and address the difficult issues that are standing in the way of the strong, loving relationships they deserve.

For more information please get in touch here →