Jerome Stern, our CEO, writes in City Wire’s Private Office Magazine about the key challenges for families as they seek to preserve and increase wealth over generations.
Tempora mutantur et nos mutamur in illis – times change and we must change with them is one of the first Latin phrases I learnt in school.
One of the key challenges for families as they seek to preserve and increase wealth over generations is how to adapt their approach to the changing times. It means building on the foundations laid by previous generations and staying true to time tested principles but also being open to change and learning at every opportunity. Opportunity and return always comes with risks. However the biggest risk can come from not taking any risk at all. Success comes from taking the right risks and learning from success and failure.