The Great Wealth Transfer presents numerous challenges to wealthy families, with over $100 trillion of wealth expected to pass between generations by the end of this 30-year phenomenon. From different views and perspectives within families, to misaligned expectations and disappointment, to family disagreement and outright conflict, there are many issues to navigate. So far, the biggest difficulties faced by both advisers and families have included a lack of planning, communication and readiness. For advisers, there are significant opportunities to support families but also threats to their client relationships and levels of business over the medium and long term as wealth passes through the generations. In The Prosperity Pathway: From Wealth Creation to Legacy, Russell Prior shows advisers and families how they can be more prepared at whatever stage they are at on the prosperity pathway. Drawing from his experience as a consultant and adviser in family governance, family enterprise succession, next-generation development and philanthropy, Russell enables the reader to: Explore the concepts, dynamics and implications of core and surplus wealth, and the differences between financial and non-financial wealth; Understand how prosperity comes with the presence of money, time, health and strong relationships; Understand the key inputs to an individual’s or a family’s wealth journey; Build a wealth philosophy and narrative to support positive communication about wealth within the family; Understand why you need the support of a broad team of advisers; and Investigate the different stages of the prosperity pathway – wealth creation, wealth extraction, wealth transition, shaping your world and legacy. Key features at a glance: Practical guidance and tools for families and advisers to help them better tackle the different stages of the prosperity pathway; Interview-based case studies with individuals sharing their reflections on their own prosperity pathway, and the roles played by advisers they have used; Essays from a range of advisers to wealthy families and individuals, sharing their perspectives on how they can best support their clients; and Practical checklists for families and advisers to assess where they are on their journey. This title will be important reading and reference for all practitioners advising high-net-worth and ultra-wealthy individuals and business families, including family business advisers, private bankers, lawyers, accountants, tax advisers, and financial and investment advisers. It will also be of significant interest to family leaders, next-generation family members and family office leaders. The Prosperity Pathway: From Wealth Creation to Legacy looks at how the elements of prosperity are woven together over a lifetime, from the very start right through to the legacy you leave behind.