Achieving Success as Earned Excellence

There’s an evolving mindset those of us in the financial industries need to embrace — success isn’t just a number in a bank account, it’s earned excellence. Success isn’t just inheritance, it’s a culmination of insight, hard work, and financial well being rooted in self awareness and integrity.

The new generation of wealth are at the forefront of this perspective shift, eager to make their mark, not just as inheritors, but as purpose-driven individuals. They’re stepping beyond the shadows of their wealth and establishing their own identities, seeking a version of success that involves more than financial independence. Success, as they see it, is earned excellence — a thoughtful blend of wealth, wellbeing, purpose, and contribution.

So, how can we equip the next gen with the skills and perspective needed to achieve this intentional concept of success? The first step is appreciating and embracing the qualitative aspects of wealth.?

As an advisor, you’re adept at managing the quantitative sides of finance — however, the more human, interpersonal elements (emotional challenges, fear of disappointing loved ones, the struggle of balancing privilege with personal ambition, etc.) are often overlooked. Embracing a holistic view of inheritance means a shift in perspective. It means understanding that wealth isn’t just financial prosperity, but an integrative formula that encompasses wellbeing, significance, and contribution.

Self-awareness will be crucial in achieving this earned excellence, often gained through guided introspection. When a client gets honest about their motivations, fears, and aspirations, they can better articulate their desires and identify potential obstacles. By better understanding themselves, they can better articulate their needs, voice their opinions, and forge a unique path.

Now, you may have seen this coming, but it’s necessary that you serve as a strategic ally on this journey. By acknowledging the power of self awareness related to intentional wealth, and incorporating the topic into conversations, you can empower clients to navigate the interpersonal challenges of familial wealth and live more purpose-driven lives.

A few questions to prompt self awareness may be:

1. Reflect on the values related to your family's wealth. How do these align or conflict with your personal values and aspirations?
2. How does your current relationship with wealth impact your sense of self and your interactions with others?
3. When you envision your ideal life, what does it look like beyond finances? What roles do relationships, personal development, and community play in this life?
4. In what areas of your life do you feel most authentic and fulfilled? Where do you feel like you're fulfilling others’ expectations?
5. If you were free of pressure or expectations from your family, what would you want to achieve and experience in relation to your inherited wealth? What steps can you take to start moving towards this goal?

With introspection, inheritors become more than recipients — they embrace the role of active participant on their financial journeys. Embodying leadership in their personal and professional lives, their role begins to move beyond stewardship of familial wealth.

By recognizing the qualitative aspects of wealth and championing personal fulfillment and emotional wellbeing, you can help next gen clients step into their power, make an impact, and shape their own legacy. By encouraging clients to get closer to themselves, you can uncover success as an earned excellence.?

Struggling to facilitate these conversations with clients? This is where Wellth Works comes in. We partner with advisors like you to help inheritors find their voice and step into their roles as leaders. Learn more about ASCEND — a year-long immersive coaching experience for wealth inheritors to find their voice, define their path, and take the lead — here.