While the increased profiles and demands of the famed "Next
Generation" (NextGen) of established high net worth families
have been well traversed over recent times, little has been said to
date about the growing and very different needs of a new group of
first generation wealth creators (FirstGen) now filling the books
of private client advisors.
These newly-minted individuals and families are the recipients
of a large portion of the huge wealth generated globally in the
past 12 to 18 months, and require special attention from advisors
and fiduciary service providers not only to manage and protect
their newfound fortune but to deal with the inevitable pressures
associated with it.
