Lessons from Successfully Launched Adults

Coventry Edwards-Pitt, also known as Covie, is a partner and Chief Creative Officer at Ballentine Partners. She is an author who has written several books, including, “Healthy, Wealthy, and Wise,” and has held numerous jobs and positions in her 24 years of experience. Covie’s experience makes her not just facile in dealing with individual concerns, but with families as well. In this episode, we will be covering how parents can better support the well-being of their children as they grow to become responsible, functioning, and capable adults.

 

In This Episode:

 

  • [01:28] Meet Covie Edwards-Pitt and how she started in her field.
  • [03:30] Covie’s holistic view on families and how her role plays into supporting them.
  • [06:00] How wealth in and of itself complicates raising well-rounded children.
  • [10:46] Has there been a shift in parenting attitude in the last 20 years?
  • [14:00] Are the negative repercussions of holding the line with your children worth it?
  • [20:18] Helping families with physical or mental well-being challenges could potentially alter the family system dynamic.
  • [30:44] Covie’s advice to the listeners.

 

Key Takeaways:

 

  • Thinking carefully about how you communicate the why around why you’re leaving the resources to those who will be left behind can save you from a generational family discord.
  • As parents, it may be difficult to step back and not help our children but allowing them to figure it out on their own will help them build skills and handle what life throws at them.
  • Work ethic is such a strong, critical component for happiness and engagement.
  • Parents may encounter inconveniences or emotional ramifications when reinforcing a behavior, but this is important in making a point and conveying a message.
  • Parents who talked honestly about their work and the ups and downs helped prepare their kids for the reality of work.

 

Meet Covie Edwards-Pitt:

 

Named one of the “Top 50 Most Influential Women Private Wealth,” Coventry (Covie) Edwards-Pitt, CFA, CFP® is the Chief Creative Officer of Ballentine Partners, a Boston-area-based investment and wealth advisory firm she joined 17 years ago. She was pre-med in college and was drawn to the wealth management industry by her desire to help people – to help them navigate a complex, noisy, often conflicted financial world and implement strategies that weren’t just financially sophisticated but also emotionally relevant. She specializes in helping her clients preserve their wealth and make good use of it in their lifetimes and with their families. This last topic is a particular passion of hers and spurred her to write “Raised Healthy, Wealthy & Wise,” a book based on interviews she conducted with successful and grounded inheritors on how they got that way. Covie has spoken on the book at a wide number of family wealth events, and she enjoys coaching parents on how they can implement the lessons of the book in their own families.

 

Resources:

 

Ballentine Partners Facebook

Ballentine Partners Twitter

Ballentine Partners LinkedIn

The Business of Family – Raised Healthy, Wealthy & Wise Podcast with Mike Boyd

Kitces Podcast with Michael Kitces – Serving Families Of Multi-Generational Wealth By Tackling The Personal Problems That Money Exacerbates, With Coventry Edwards-Pitt

 

Disclaimer:

 

Although OPG has attempted to provide accurate information on its website and its podcasts, we assume no responsibility for the accuracy of the information and makes no other representations or warranties whatsoever with respect to the services, resources, content and materials of any third parties. Mention of non-OPG services is for informational purposes only and constitutes neither an endorsement nor a recommendation. The content here should not be taken as any form medical or other professional advice.  Please consult your professionals or providers for any specific questions or issues.

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