Wealth Management Isn’t Just Numbers

I’ve spent decades guiding wealthy families, and here’s the truth: money amplifies everything—love, greed, resentment. Newly rich founders, fresh off selling their business, come to me thinking wealth management is about investments. Wrong. It’s about saving your kids from a black hole.

Moms say, “My kids are great and they love each other. They’ll share fairly.” I smile, but I’ve seen too many families torn apart after the parents are gone. Siblings bickering over cottages, trust funds, or who “deserves” more? That’s what happens when you kick the can down the road for your children to fight battles in their fifties. What is this can? Governance for the family wealth and inheritance needs to be put in place to ensure worst-case scenarios are prevented.

Founders, you’re the worst offenders. You clawed your way up—sleepless nights, maxed-out cards, pure grit. Your kids? They’re growing up with private schools, St Barth’s and Whistler ski trips, and quite frankly, surrounded by people who now know they have access to money. You want them to have your hustle, but you were too busy building your empire to teach them. Now you’re rich, and they’re strangers in a world you created. Moms see their kids through a love lens, swearing their children will never fight over money. But millions turn harmony into chaos. I’ve seen it.

Here’s how to stop the black hole. First, talk about money now. Not the polished pitch you gave VCs—the raw stuff. The failures, the sacrifices. Let your kids manage a small account; let them lose $1,000 and feel the sting. Discuss it and get their thoughts and feelings going.

Second, give them purpose. Fund their ideas, but make them earn it. I had a client whose son wanted to start a tech venture. He got $50,000 but had to pitch a business plan first. No plan, no cash. He caught the entrepreneur bug as he now had invested into something he wanted to see gain customers and start to grow.

Third, plan for the fallout. Set up a trust with a neutral trustee. Tie payouts to milestones—education, philanthropy, or starting a business. Hire a wealth management firm that’s seen families implode. You can’t force your kids to be you. They won’t know your struggles, and that’s okay. Your job is to give them tools, not a blank check. Start a family foundation and use a DAF; let them run it. Show them giving can be done in a systematic and generous style, but with the correct decision-making format, administration and taxes. This is grown-up, not fantasy philanthropy.

Wealth can fuel ambition or breed entitlement. It can be wonderful at creating empowered Canadians who give so much or it can be a depressant. Small changes can really make a difference.

You choose. Jacoline Loewen has guided families through wealth’s pitfalls for decades. Connect to turn your fortune into a legacy, not a family feud.