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Financial Planning > UHNW Client Services

New Morgan Stanley Program to Help Wealth Managers Work With Ultra-Wealthy Families

By Michael S. Fischer

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What You Need to Know

  • The Morgan Stanley Family Legacy and Governance Institute is aimed at estate planning lawyers, CPAs and other professionals.
  • It is intended to help them support harmonious decision-making and success within families.
  • The first annual Institute took place Tuesday.

Morgan Stanley Family Office Resources announced Tuesday the rollout of a virtual educational program designed specifically for wealth managers to address and implement family governance processes for ultra-high-net-worth clients.

The Morgan Stanley Family Legacy and Governance Institute will assist estate planning lawyers, CPAs, family office executives and other professionals in understanding the importance of family governance in order to support harmonious decision-making and success within families. 

It is intended to build their knowledge so they can practice more confidently and effectively with ultra-wealthy clients.

“When we think about the success of families over multiple generations, we have seen that long-term success relies heavily upon matters including aligning around a deeply held set of shared family values, building a family mission, and creating strong processes for making decisions together with respect to their joint enterprise,” Glenn Kurlander, head of family governance and wealth education at Morgan Stanley, said in a statement. 

“With nearly 40 years of practice in the family governance space, we are excited to share our experience with estate planning professionals who focus their practice on the ultra-high-net-worth segment, helping them deepen their understanding of this critical space.”

The first annual Institute took place Tuesday, with sessions covering several themes relating to the elements of a family governance system: the role that constitutions and bylaws play in helping to manage human capital and strategies for driving continuity and success over multiple generations.

“There are many excellent and well-established programs that help estate planning professionals continue developing their technical skills in the field,” Elizabeth Chand, Family Office Resources generalist at Morgan Stanley, said in the statement. 

“While these areas are of undeniable importance, we believe that a family’s long-term success and happiness depend to a far greater extent on their ability to develop, nurture and manage their human capital — matters that come within the ambit of family governance and legacy.”

Michael S. Fischer

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