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\u00a0<\/strong>\u00a0<\/em><\/strong><\/p>\n A new approach for family office executives to successfully manage family wealth must focus on a \u201c3.0 Wealth Mindset,\u201d according to Steve Prostano, Founder and Chairman of the Ultra High Net Worth Institute.<\/p>\n The details of this new mindset, based on what Prostano calls the \u201cTen Domains of Family Wealth,\u201d are discussed in a new podcast<\/a> just released by the Policy and Taxation Group.<\/p>\n The podcast host, Pat Soldano<\/a>, is Founder and President of the bipartisan, non-profit Policy and Taxation Group based here. Policy and Taxation Group is the voice of family offices and successful individuals and is focused exclusively on the tax and economic Issues that impact them.<\/p>\n During the conversation, Soldano and Prostano discuss transitioning existing family offices to the new \u201cWealth 3.0 Mindset\u201d concept and details how to understand the many new skills and approaches required to deliver integrated family wealth management solutions.<\/p>\n The podcast, airing now on Spotify<\/a> and other podcast platforms, takes a deep look at the evolution of family office practices, from its initial focus on investment and money, to advice giving, to what Prostano calls the third evolutionary phase, the \u201c3.0 Wealth Mindset,\u201d which takes a more integrated, holistic approach to family wealth management.<\/p>\n The role of the family office executive has changed dramatically<\/a>,\u201d says Prostano in the podcast. \u201cThere is a need today, and in future, to have more integrated, holistic solutions that work throughout the course of a lifetime, and for future generations,\u201d he says.<\/p>\n The New York-based Ultra High Net Worth Institute, or UHNW Institute, has a mission to empower ultra-high-net-worth families and family offices with a comprehensive understanding of the wealth management industry so they can make the best choices to meet family needs across generations. It is a non-profit organization operating as an independent, objective organization that avoids conflicts of interest and any appearance of \u201cpay to play.\u201d<\/p>\n The foundation of this new mindset is built on the foundation of ten concepts, or domains, Prostano says.<\/p>\n The domains are based on and include wealth creation<\/a>, cultivation of family capital, health and well-being, governance, communication, and decision-making.<\/p>\n The podcast is part of a series<\/a> focused on family office issues and America\u2019s multi-generational family businesses. The series is called, \u201cThe Voice of Family Business on Capitol Hill.\u201d<\/p>\n \u201cThis new mindset is interesting topic all family office executives are grappling with as the need for broader, more integrated solutions are required,\u201d said Soldano about the conversation. Soldano is also President of the bipartisan Family Enterprise USA, which advocates for family businesses. \u201cThis will become even more important as family businesses begin transition to the next generation, where the needs will likely be very different from the past,\u201d she said.<\/p>\n The conversation can be heard on Spotify and subscribers will receive alerts as future shows are posted. \u00a0To find it on Spotify go to: https:\/\/open.spotify.com\/show\/73pcpIL2NfPi11WG0FZdyX?si=xIww0QSoS_OHMdOeR9qXhw<\/a><\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_weight=”2px” disabled_on=”off|off|off” _builder_version=”4.25.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text disabled_on=”off|off|off” admin_label=”Become a member text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n The need for fact-based reporting of issues important to multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.21.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider admin_label=”Video Slider Webinar Replays” _builder_version=”4.21.0″ _module_preset=”default” saved_tabs=”all” global_colors_info=”{}” global_module=”5954″ theme_builder_area=”post_content”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=ebLC74TMplE” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=fIbiW_qFdE0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=uKyoSHKZ-5o&t=81s” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=KIgfjsdi4o0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=6ME0xh9XKSM” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=Ggte5YDferU” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=GnpvvzhcfS0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=6UMxZ8yBsOs” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text disabled_on=”off|off|off” admin_label=”FEUSA Statement” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_text disabled_on=”off|off|off” admin_label=”Hash tags & Tags” _builder_version=”4.21.0″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Family Offices Need \u2018Wealth 3.0 Mindset\u2019 to Succeed in Future, Says Ultra High Net Worth Institute Founder Steve Prostano, in New Policy and Taxation Group Podcast With Host Pat Soldano, Conversation Delves into \u2018Holistic Approach\u2019 and the \u201810 Domains of Family Wealth\u2019 Management\u00a0 \u00a0\u00a0 A new approach for family office executives to successfully manage […]<\/p>\n","protected":false},"author":2,"featured_media":11884,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,92,103,98],"tags":[],"class_list":["post-11882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-multi-generational-business","category-next-gen","category-podcast"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11882"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11882\/revisions"}],"predecessor-version":[{"id":11888,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11882\/revisions\/11888"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/11884"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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