Next Generation Experience

Supporting the next generation in assuming responsibility for family wealth

Our bespoke Next Generation Experience provides examples, tools and resources to the current and next generation of your family to support informed decision-making and facilitate communication about wealth. Every family’s program is tailored to the age, circumstances and needs of participants. We are committed to meeting your family where you are in your journey.


Where We Help

We build customized programs and experiences for our clients and their families using modules on these topics as building blocks.
  • Money and Values


  • Investing and the Markets


  • Trusts and Beneficiary Training


  • Corporate Finance


  • Philanthropy and Giving


  • Career and Networking


How We Can Help

A couple and their three adult children were deeply moved by current events, and the children wanted to dedicate a significant portion of time and some assets from the family donor-advised fund to philanthropic endeavors over the next six months. The couple requested BBH’s help guiding the children through the charity selection process.

BBH facilitated a family meeting using our proprietary tool, Identifying Your Philanthropic Mission, to help identify causes the children would like to support. After determining the causes about which the children were the most passionate, BBH guided them through research tools and resources they could use to find relevant charities, including a tutorial on how to read a Form 990 (nonprofit tax form) to uncover how the organization operates from a financial perspective.

A multigenerational family sought assistance educating the next generation (ages 8 to 14) around investing and the markets.

BBH hosted a three-generation family meeting, during which we had the group of grandchildren create a faux business and engaged them on topics related to capital and the markets. In addition, BBH provided education around investing (including different asset classes) and returns.

A multigenerational family had a structured, active family foundation with a solid grantmaking framework in place and metrics for measuring impact. The grandparents and parents sought assistance engaging the next generation early in philanthropy.

BBH hosted a family meeting, during which we helped the grandparents explain the family’s grantmaking policies to their grandchildren. We used our proprietary tool, Identifying Your Philanthropic Mission, to facilitate a discussion about the causes that mattered to the grandchildren. Each grandchild then spoke about a cause and why it mattered to them at the meeting. Afterward, at BBH’s suggestion, each grandchild proposed to the grandparents a donation to a specific charity and discussed the reasons behind each grant and how they would measure impact.

Two parents who had set up a trust for their children were struggling with how to best educate them on the basics around trusts and sought assistance doing so. In addition, they wanted their children to understand the benefits of trusts.

BBH worked with the next generation to provide an overview of trusts, including what a trust is, what theirs provides, why their parents set them up, the purpose of the trust and the role of the trustee. In addition, we explained the benefits of trusts vs. simply transferring the assets outright and covered creditor protection and the tax laws surrounding trusts to help the children better understand these benefits. Lastly, we gave tips on how to develop a good relationship with your trustee.

BBH Next Gen Summit 2019

Our multiday Next Gen Summit helped young adult attendees develop financial independence and business acumen. Through interactive sessions and engaging speakers, which included CEOs of private companies and professors from leading business schools, attendees explored entrepreneurship and business, investing and career development, as well as planning for personal finance and philanthropic goals. In addition, attendees were able to network with one another through workshops and social events, including a trip to the NYSE, cooking class and boat cruise.

How to Talk with Children About Money

Spending, Saving, Investing and Giving Game

Our Spending, Saving, Investing and Giving Game is designed to teach children the importance of goal setting and delayed gratification, which has been noted as one of the most effective personal traits in successful people. To accomplish this learning objective, we provide clients with four tags to use on containers of their choice for spending, saving, investing and giving. Each time a child gets an allowance, parents can sit down and have a conversation as to where the money should be allocated, helping the child prioritize and learn these important concepts.

Let us design your family’s program. Email us at NextGen@bbh.com.

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This communication is for informational purposes only.  The information herein has not been based on a consideration of any individual investor’s circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice.  Individuals should consult their personal tax, accounting and legal advisers regarding any potential investment or strategy.  Any views and opinions are subject to change at any time.

This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized to do so.

 

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