Dealing with the ramifications from a client's divorce and helping a married couple who have distinctly different ideas about how to handle their finances are two of the biggest problems advisors face when consulting with wealthy clients, according to a member poll by the Dow Jones Wealth Management Advisory Council.


As well, helping a client handle financial matters after the death of a spouse is also a challenge. "Some clients may feel they are dishonoring their spouse's memory by concerning themselves with financial matters too soon after their death," said Patricia Bell, an adviser with Merrill Lynch Wealth Management.


Children can pose yet another test. Many wealthy families find that their children are not responsible when it comes to money. "Helping clients teach the next generation the value of a dollar will allow the clients to enjoy their wealth, secure in the knowledge that their legacy will live on," said Joseph W. Montgomery, managing director of investments at Wachovia Securities.


Finally, families that have children from various marriages struggle with what kind of an inheritance to leave them.

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