Experts Deliberate on Wealth Transfer Strategy at Cordros Summit

Omolabake Fasogbon

Business owners have been urged to apply a principle-centered approach in managing their wealth to be able to redistribute wealth across generation.

In doing this, they are advised to expressed their value to their family and be deliberate about their wealth transfer plans which should be communicated to closest family members.

Speaking at the Cordros Wealth Summit held in Lagos, recently, Chairman of Cordros Capital, Engineer Charles Osezua stated that the summit aimed to shape the future of wealth management, stressing that real fortune must be generational and not stop at its creator. 

Speaking on ‘Wealth Management and Family Legacy’, Ozezua averred that family wealth should be managed just like businesses, thus required deliberate application of principles. 

“In as much that we build a comfortable home environment and created inheritance, it is important that we transfer values to our families so our vision don’t get jettisoned, such that our families won’t have to be seeking a way forward in court when wealth creator is no more or risks destruction of legacy built over the years.”

Also speaking at the summit which was graced by investors and industry stakeholders, Managing Director of Cordros Trustees, Ifeoma Udom urged effective governance in the family. 

According to her, by good governance required a family should have an office or council that will represent every generation and interface with the directors.

Group Managing Director of Cordros Capital, Wale Agbeyangi reiterated the company’s commitment to investment growth, adding that the company in 15 years has evolved into a financial services super house, comprising six subsidiaries.