Wealth & Values

Wealth & Values: Defining Family and Individual Values

The Rockefeller family became a part of American history not only because of their fortune, but because of how they have successfully transitioned it from one generation to the next while creating and maintaining a profoundly positive impact around the world for seven generations. The longevity of their wealth has been made possible not only by skillfully navigating wealth’s complexities, but also by intentionally empowering each rising generation through financial education and sharing family values. Guided by foundational principles, the Rockefellers have consistently sought to preserve their wealth through generations on the basis of learning and appreciating the values that bring their family together around a shared mission, knowing this approach leads to confidence in financial decision-making, the ability to lead happy, successful lives, and ultimately great stewardship of family wealth and legacy.  

One of the most meaningful things we do in life is find alignment with the right people and the right purposes or values. Therefore, one of the most meaningful things family members can do for each other is offer support in finding that individual alignment. This process looks different for everyone, but one way in which we are alike is that we all experience challenges and opportunities during our lifetime that ultimately help us determine who we are and what is important to us. Our personal understanding of what is inherently important to us puts us in a position for a productive conversation about what common values unite our family. Finding alignment within a family can be challenging. Families, after all, come with their own unique dynamics, histories, and traditions that can both enrich and complicate the process of value alignment. Within a family, different generations may hold varying perspectives on what is important, influenced by the times in which they grew up and their personal experiences. If approached the right way, this diversity of thought within families can be a source of strength, offering a broader range of insights and an opportunity to better understand and appreciate one another. 

1. Ask The Important Questions 

By fostering open communication and mutual understanding, family members create a foundation of trust and respect that will govern and support them in their decision-making across all areas of life, including and especially the role of family wealth. This collaborative approach not only strengthens family bonds but also ensures that wealth is managed responsibly and ethically, benefiting both current and future generations.
Ultimately, the emphasis on trust and respect transforms financial planning from a potentially divisive topic into a unifying force. It empowers each family member to contribute meaningfully, fostering a sense of shared purpose and collective achievement. In this way, the role of family wealth transcends mere monetary value, becoming a pivotal element in the family’s legacy and enduring success. 

2. Common Family Themes 

A general theme in parents and wealth builders is that they seek to protect. A general theme among younger generations and inheritors is that they seek to be appreciated for their own capabilities. Finding a balance between these themes can be complex but incredibly rewarding. It requires open dialogue and a willingness to understand each other’s perspectives. For parents, it’s essential to communicate not just the desire to protect, but also the reasons behind certain financial decisions. For the next generation, it’s important to express their aspirations and the areas where they wish to carve out their own paths. 

3. Education and Empowerment 

Financial education also plays an essential role in supporting families to find alignment between wealth and values.  Ensuring that all family members understand the principles of their financial lives and the values underpinning their family’s wealth can be a significant source of empowerment. Everyone deserves to have confidence in their ability to make wise financial decisions, to understand the “why” behind advice they are given, and to feel a sense of personal achievement as they learn to navigate the complexities and responsibilities that accompany family wealth. This education should be ongoing, adapting as the family grows and the financial landscape evolves. In partnership with the Rockefeller Family, we have created the Rockefeller Financial Education Program, covering core areas such as personal finance; planning for the future; wills, trusts & estates; US tax basics; investing; sustainability & impact; philanthropy; and entrepreneurship. This program is a resource that aims to support all our clients and their families, including the Rockefellers.  

4. Building a Legacy Together 

At Rockefeller, we believe that true wealth encompasses more than just financial success; it includes the principles and ideals that define your family’s ethos. Our bespoke Wealth & Values Exercise serves as a guide to leading meaningful, values-driven conversations with multigenerational families to help them articulate and solidify their unique values, ensuring that these guiding principles are preserved and cherished by future generations. Discover how our expertise can assist you in creating a legacy that embodies both financial success and the enduring values that drive your passions.