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Family Learning

Lack Of Time and Process as Key Barriers to Effective Family Learning, Survey Reveals

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Gen7 Project inspires modern families to share knowledge to elevate multi-generations

Pitcairn, the leading family office, announced the survey results from its annual Wealth Momentum Forum, facilitated by the Gen7 Project. The survey revealed that wealthy families cite “lack of time” (29%) and “lack of a clear path” (27%) as the two biggest roadblocks to effective family learning. The survey has relied on 70 rankings from Forum attendees that included multiple generations from wealthy families. Additional findings included lack of priority (21%), lack of confidence (13%), and lack of connection (10%) as impediments to getting started.

Family learning is essential for multi-generational success. However, the survey found how difficult it is for families to meaningfully communicate and share knowledge. Pitcairn recognizes the critical role they play in helping families navigate these conversations and better realizes its own legacy.

Family learning includes wealth education surrounding financial literacy, values and mission, family culture and communication, philanthropy, and decision making and governance, delivered in a variety of flexible and personalized formats. From senior leaders to millennials and teenagers, learners of all ages benefit from daily wealth education. Unfortunately, today wealthy families are struggling to prioritize this amidst increasingly complex lives, and despite recognizing the value of family learning, many aren’t sure where to start.

Additionally, forum participants from the survey took part in a number of experimental workshops and sessions designed to raise their awareness of the importance of family learning and the barriers they may face. The sessions were led by the Gen7 Project, Pitcairn’s innovative leadership and learning lab.

Family leaders and rising generations were urging to engage, learn from each other, openly discuss where breakdowns exist, and share ideas on how best to resolve them. The intentions of families were clear. They need new ways to walk to and learn from each other. And they need to do it through meaningful experiences.

The Gen7 Project’s success relies on solving the evolving and complex challenges of ultra-high net worth families as they transition their assets and legacy to future generations. It is dedicated to inspiring families to share the knowledge that activates and elevates their true potential.

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The Educational landscape is changing dynamically. The new generation of students thus faces the daunting task to choose an institution that would guide them towards a lucrative career.

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