Deepening Client Relationships to Help Families Thrive

Are the ultra-wealthy just like the rest of us? Depends on whom you ask. 

How can financial advisors better serve their clients by addressing the human element of wealth, particularly within ultra-high-net-worth families? They listen to Tim Volk. 

In this special Pride Month episode, Matt Halloran is joined by Tim Volk – host of The Rainbow Bull podcast, and a financial consultant with experience working with ultra-high-net-worth families – to discuss helping them navigate the human side of wealth, including intergenerational wealth transfer and family dynamics. 

While affluent families often encounter similar problems to other families, the stakes are typically higher, and the dynamics more complex. This is where Tim’s expertise lies — he facilitates crucial conversations within families, addressing sensitive topics that many shy away from, including inheritance concerns stemming from differing lifestyles, religious beliefs, addiction, and mental health challenges.

Tim discusses:

  • The often overlooked human element in wealth management, such as family dynamics, communication challenges, and sensitive topics like addiction and estrangement that impact financial well-being
  • How his consulting practice helps advisors navigate these sensitive conversations and provide additional support to clients beyond traditional financial planning
  • The significance of storytelling in understanding family history, values, and dynamics, which can be crucial in wealth transitions and legacy planning
  • The importance of advisors being equipped to handle sensitive conversations around LGBTQ+ issues and inclusion, promoting acceptance and understanding to support all families
  • And more

Related: How to Build and Sustain Strong Business Partnerships