Sales & Marketing | 06.11.25

Organizing Effective Family Preparedness Meetings and Seminars

by: BISA Staff

Only 13% of affluent investors choose to work with the same financial professional their parents used. Enter the family money meeting. At the 2025 BISA Annual Conference, Kylie Murray, director of practice management, consulting and strategy at Sammons Institutional Group, shared her experience and advice for managing these meetings. She emphasized that by holding these conversations, advisors plant a seed with younger generations — helping to avoid becoming part of the 87% of advisors who lose clients during wealth transitions.

Why Family Money Meetings Matter

Family financial harmony doesn’t come naturally to everyone. Murray illustrated this with a relatable example: her own family group chat. Even planning a vacation through a group chat can be chaotic — so imagine trying to coordinate financial decisions. Most families don’t use these channels to talk about money, and when a family member passes away, assumptions often fill the void left by a lack of planning. This is where financial professionals can step in to provide structure and clarity.

Every family is different. A family money meeting creates a neutral space to:

• Foster communication
• Align goals and roles
• Encourage proactive planning
• Ensure generational continuity

For advisors, these meetings offer significant benefits:

• Deepen relationships
• Strengthen trust and decision-making roles
• Gain a holistic view of the family’s finances
• Secure long-term, multi-generational relationships
• Align financial products with evolving family needs

Although the value is clear, clients may feel these meetings aren’t necessary — especially those planning to retire with under $5 million. But as Murray pointed out, no one expects the worst to happen. These meetings aren’t just about wealth transfer; they’re about preparedness. Topics like 529 plans, long-term care and emergency planning are just as relevant. Recommending a family money meeting to a client could begin during a regular check-in. Especially with long-term clients, highlight the accomplishments you have made with them over the last few years or decades, and then ask them how they would like to continue their legacy. This can be a launching point for recommending a family money meeting.

Murray encouraged advisors to ask open-ended questions like:

• What are your plans for retirement?
• What does success look like for your family?
• How do you want your legacy to be remembered?

Remember, legacy doesn’t always mean money. For Murray’s family, it’s the lake house where countless memories were made. For others, it might be a piece of jewelry or a family tradition. The key is understanding what matters most to the client — and ensuring their plan reflects that.

How to Structure a Family Money Meeting

In these meetings, the advisor becomes an accountability partner. By helping families prepare, they reduce stress and empower each member to make informed decisions. Murray emphasized that if the plan isn’t understood or embraced by the family, it won’t succeed — no matter how technically sound it is. Here are a few steps to getting started.

1. Start With Preparation

• Review the client’s financial documents (tax returns, account statements, estate plans)
• Identify who should attend the meeting (children, nieces/nephews, philanthropic representatives)
• Clarify the client’s goals and concerns ahead of time

2. Build the Agenda

A clear agenda keeps the meeting focused. Murray suggested including:

• Introduction and Overview – Set the tone and explain the purpose
• Review of Financial Status – Share a snapshot of the current situation
• Discussion of Goals – Invite input from all participants
• Specific Issues – Address estate planning, insurance or business succession
• Open Q&A – Encourage dialogue and clarify concerns
• Summary and Next Steps – Assign follow-ups and set the date for the next meeting

3. Plan for Follow-up

After the meeting:

• Distribute a checklist of action items
• Store documents (such as an “in case of emergency plan) in a secure, shared location where relevant family members can easily access
• Track progress and adjust plans as needed
• Schedule the next meeting in advance

Murray noted that ongoing cadence is key. Annual meetings are a good baseline, but additional sessions may be needed after major life events like graduations, marriages or inheritances.

Tailoring Meetings by Family Type

Murray recommended adapting the approach based on the family’s stage:

• Young families – Focus on foundational financial literacy and savings goals.
• Families with teens – Teach financial responsibility and introduce future planning.
• Multi-generational families – Discuss estate planning, support systems and wealth transfer.

Regardless of the family structure, the goal is to help them face their financial reality with confidence and clarity.

Navigating Challenges

Family dynamics can be complex. Murray outlined common obstacles:

• Conflict – Use active listening and, if needed, bring in a neutral mediator
• Generational differences – Tailor communication styles and expectations
• Financial literacy gaps – Provide education and resources
• Dominant voices – Ensure everyone has a chance to speak

She also encouraged advisors to be flexible and responsive. If a meeting gets tense, it’s okay to pause and revisit the issue later.

Murray shared several practical strategies:

• Set clear ground rules
• Promote active participation
• Use visual aids to simplify complex topics
• Leverage digital tools for collaboration and document sharing
• Create a safe, judgment-free environment
• Address unique family dynamics with empathy and care

Commit to Continuous Improvement

To make each meeting better than the last:

• Collect feedback from participants
• Identify areas for improvement
• Adjust agendas based on evolving needs
• Reinforce collaboration and shared goals

Murray encouraged advisors to start with a family they know well and build from there.

Final Thoughts

Family money meetings are more than a service — they’re a strategy for building trust, deepening relationships and helping families thrive across generations. As Murray concluded, the best time to start is now. By guiding these conversations, advisors can help clients leave a legacy that’s not just financial — but deeply personal and enduring.

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Kylie Murray is the director of practice management, consulting and strategy at Sammons Institutional Group. A 2023 B.I.S.A. industry Rising Star recipient, she has spent her entire working career in the financial services industry.  While Murray presents on several topics, she is passionate about educating partners on a variety of subject matters: referrals, successful and underserved groups, and all-around practice building and management techniques. In her current role, she is responsible for the delivery of value-add education presentations, internal and external product trainings, and strategies for general practice development tailored to Murray’s distinct, interactive presentation style.

As an athlete all her life, she continues to temper her competitive spirit with growing her golf game, lots of outdoor activities suited for living in Phoenix, AZ and chasing around her many nieces and nephews across the country. If she’s not playing or watching sports or traversing the country, she’s probably somewhere in a comfy chair, as she’s a voracious reader.