In Conversation with
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May 3, 2024
‘In Conversation With’ Dallington Associates: The ‘Rising Generation’ of Affluent Families
Written by George KingWithin our latest podcast, which takes the form of a two-part series with Jessica McGawley, a psychological consultant, mediator and founder of Dallington Associates, we delve into the topic of the ‘Rising Generation’.
To provide some background, Dallington Associates have been around for eight years and offer individual mentoring programmes and group workshops for siblings and wider families, specifically focused to teenagers and young adults from affluent and successful families.
At MASECO, the topic of ‘children’ (spanning a vast age range depending on the family) and money is probably one of our most frequently raised topics when advising wealthy families. Questions are often posted such as ‘how do I support them but not spoil them?’, ‘what do I say and do to keep them motivated?’ and ‘how and when do I engage them in conversations around money?’, as well as many others. Within part one of this podcast, MASECO Senior Wealth Manager and our podcast host, George King, posed some powerful questions to Jessica, off the back of these conversations with clients.
When listening/watching this podcast you can expect to hear valuable insights from Jessica on topics ranging from the difference between the ‘Next Gen’ (age range of 30-40 plus) and the ‘Rising Gen’, a newer demographic and term coined by J Hughes, (usual age range of 16-30), as well as the characteristics and challenges faced by the ‘Rising Gen’, the concept of Net Worth vs Self Worth and differentiating between ‘normal’ adolescent behaviour and what stems into the context of success, affluence and family business.
Finally, Jessica offers her ‘top tips’ for parents of these individuals, whilst also noting the importance of providing parents with the tools to have conversations around the kitchen table, as the authority figures and care givers.
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