Joan Malloy opened Greenway Family Office in St. Louis, a comprehensive wealth advisory firm, with a burning goal: to beat the odds that 70% of all multigenerational wealth transfers fail.
Malloy, a CFP who is Greenway's managing partner and director of family strategy, set out two years ago to share values while managing family valuables. Even with the most well-drafted trusts, family members fight, misunderstand one another and botch financial responsibilities. When they do, it's likely that neither the family nor their finances will flourish.
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