Omnia Family Wealth Publishes Commentary on Sudden Wealth Syndrome
You’ve heard the stories, and perhaps a feeling of dread sinks in as you think about your own family: A wealthy family builds significant wealth and passes it on to the next generation. Inevitably, that wealth is squandered by poor decisions made by the inheriting generation or the next.
Introducing Sudden Wealth Syndrome. This happens when a family member or members suddenly inherit wealth, and, unprepared for the responsibility, they make poor decisions. This can lead to massive wealth deterioration which, over time, can destroy even the largest of family fortunes. To read the full commentary, click here.