Morgan Stanley Launches Family Legacy and Governance Institute to Guide Professionals in Driving Multi-Generational Success

Rhea-AI Summary

Morgan Stanley Family Office Resources launched the Morgan Stanley Family Legacy and Governance (FLAG) Institute, a virtual program aimed at professionals in estate planning and wealth management. Set to begin on September 28, 2021, the Institute focuses on the human capital aspect of family governance, crucial for ultra-high-net-worth clients. Sessions will cover governance systems, decision-making strategies, and the significance of family values. Executives from Morgan Stanley emphasize that long-term family success relies on strong governance processes, beyond just technical skills.

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• Launch of the Morgan Stanley Family Legacy and Governance Institute targeting estate planning professionals.
• Focus on human capital and governance to drive long-term success for ultra-high-net-worth clients.

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• None.

New virtual educational program is designed for estate planning, accounting and financial professionals in addressing human capital-focused needs

NEW YORK--(BUSINESS WIRE)-- Morgan Stanley Family Office Resources today announced the launch of The Morgan Stanley Family Legacy and Governance (FLAG) Institute, a virtual educational program designed specifically for professionals to address and implement family governance processes for wealth management clients in an effort to drive long-term success within families.

This is the first Morgan Stanley Wealth Management client experience geared towards estate planning lawyers, certified public accountants, family office executives, and other professionals that focuses on the human capital side of working with ultra-high-net-worth wealth management clients. The Institute will assist these individuals in understanding the importance of family governance in order to support harmonious decision-making and success within families, and build their knowledge to practice more confidently and effectively with wealth management clients in the ultra-high-net-worth space.

“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,” said Glenn Kurlander, Head of Family Governance & Wealth Education at Morgan Stanley. “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 is taking place on September 28, 2021. Sessions will cover a number of themes relating to the elements of a family governance system. Panelists will discuss practices that help to drive long-term success, 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,” said Elizabeth Chand, Executive Director and Family Office Resources Generalist at Morgan Stanley. “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.”

About Morgan Stanley Wealth Management

Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

© 2021 Morgan Stanley Smith Barney LLC. Member SIPC.

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Christine Jockle, Christine.Jockle@morganstanley.com

Source: Morgan Stanley

FAQ

What is the Morgan Stanley FLAG Institute?

The Morgan Stanley FLAG Institute is a virtual educational program designed for estate planning and wealth management professionals, emphasizing family governance.

When does the FLAG Institute launch?

The FLAG Institute is set to launch on September 28, 2021.

What topics will be covered in the FLAG Institute?

The program will cover family governance systems, decision-making strategies, and the importance of shared family values.

Who is the target audience for the FLAG Institute?

The FLAG Institute targets estate planning lawyers, certified public accountants, and family office executives.

Why is family governance important for wealth management?

Family governance is crucial for fostering harmonious decision-making and ensuring long-term success in managing wealth across generations.