How Sudden Wealth Recipients Work with Socius
Ensuring your newfound affluence enriches your life for a lifetime, not just a few years.
ENSURING YOUR NEWFOUND AFFLUENCE ENRICHES YOUR LIFE FOR A LIFETIME, NOT JUST A FEW YEARS.
A sudden influx of financial resources, also known as a liquidity event, can be both a blessing and a curse. Whether you’ve inherited a huge sum, sold a business, signed a lucrative contract, or received a major settlement, new wealth can upend your life—and leave you as quickly as it came.
Up to 70% of people who come into sudden wealth lose it all within a few short years. Why? The money can feel unlimited, but hasty decisions, bad habits, and over-eager advisers lead most people to spend unwisely—effectively wasting it.
Socius can help. We encourage you to pause and plan first, teaching you how to spend responsibly while setting up structures and roadmaps to help you sustain your wealth for a lifetime.
YOUR PROCESS WITH SOCIUS
Here’s how we work with sudden wealth recipients to protect their estate and well-being over time.
Building a relationship of respect and trust is paramount. We begin by developing a rapport, listening to your goals, and understanding the whole of your new financial life.
As your primary point of contact for all things financial, we’ll bring all your other advisers to the table, including accountants and attorneys. Implementing a long-term financial strategy is a team effort—but we’re here to lead that team, so you don’t have to worry about the day-to-day details.
When you suddenly receive a huge sum of money, you’ll feel the urge to spend it right away: changing your lifestyle, making big purchases, doling out generous gifts to friends and family. For your own sake, we’ll advise you to stop and think—in fact, we recommend a six-month moratorium on any major moves, as impulsive decisions are an easy way to lose financial control.
While you pause, we’ll help you develop a detailed plan and teach you the fundamentals of responsible habits. By mapping out life events and any future influxes, you’ll gain peace of mind in knowing your money is safe and secure.
Once you’re comfortable with the strategy, we’ll work with your team to set up entities and structures to preserve and grow your estate: limiting your tax burden, protecting your capital, and helping you make prudent decisions on investments and purchases.
We’ll also begin acting as your comprehensive family office, ensuring every aspect of your financial life is cared for, from paying bills to establishing trusts for future generations and causes you care about.
You don’t have to become another sudden money statistic. With Socius, you’ll learn how gratifying it is to grow and save for a legacy that lasts.
Schedule your first meeting
with Socius today to learn how we can help ensure that your affluence stays with you.
200 East Las Olas Boulevard, Suite 1550
Fort Lauderdale, FL 33301
2605 Nicholson Road, Suite 5140
Sewickley, PA 15143