Addictions and life changes are proving detrimental to the wealth management sector, and more specifically to wealth planning, according to the Promises Treatment Centres and Inheriting Wisdom, who have made said subject the focus of their upcoming breakfast briefing in Chicago.

On 19 July, Inheriting Wisdom and Promises Treatment Centres will host a breakfast briefing for family members, financial advisors, entrepreneurs, family businesses, attorneys and other wealth managers, to talk about the impact of significant life challenges like addiction and raising special needs children on families’ wealth planning.  

“Whether it’s addiction, having a child with special needs or another issue, there are times in people’s lives when they suddenly realise that it’s not the amount of money they have that matters; it’s the impact of their wealth,” said Inheriting Wisdom co-founder Dr James Weiner. 

Keith Arnold, vice president of operations for Promises Treatment Centres, will speak at the breakfast briefing about assessments, interventions and other tools available to help families prevent, identify and treat addiction. 

“Everybody hopes addiction never happens to them or their family member. When it does occur, it can be an extremely confusing and challenging time. This event will help families and professionals in crisis access the resources they need to rebuild their family and their future," said Arnold.

“People do not know that there are solutions to their problems and they feel isolated. Our breakfast briefing shows there are solutions that not only resolve the problem but also build value into their wealth at the same time,” added Inheriting Wisdom co-founder, Dr Carolyn Friend. “A lot of people work with families to increase their quantity of wealth, but we work with families to address life’s challenges in a way that increases the value of their wealth."

Malibu- and West Los Angeles-headquartered Promises Treatment Centre provides specialised treatment for entrepreneurs, business executives and other professionals.

Chicago-based Inheriting Wisdom is a consulting firm that helps families increase the value of their quantifiable wealth and navigate the dynamics associated with wealth.