Modern families can often be complicated families: they can be challenging, diverse, intricate, and all over the map – often literally – and their needs are equally complex. Identifying and navigating their needs requires expertise and collaboration across borders, cultures and professions.
STEP has undertaken a research project, kindly sponsored by TMF Group, to gather insight about the families that STEP members advise and what their wealth and succession planning needs are. It identifies the key complexities and constraints currently facing families and their advisors. The aim is to understand and highlight the common themes facing families in this area and where STEP can focus its future work to address any issues identified.
The report highlights the need for advisors and legislators to adapt and modernise in order to keep up with the needs of today’s families.