Veteran investment advisor calls for greater awareness of multi-generational planning and charitable giving
ARROYO GRANDE, CA / ACCESS Newswire / September 11, 2025 / After more than four decades guiding families toward financial independence, Carey James - President and Owner of James Financial - is speaking out about the urgent need for multi-generational financial planning and purposeful giving.
James, a second-generation financial advisor whose wife and daughter also work in the family office, says too many families focus only on short-term gains without considering how their wealth can support both future generations and community causes.
"This is my fourth decade as an investment advisor, and success to me has been helping families become financially independent - then watching the second and third generations benefit from prudent planning," said James. "If you don't look beyond your own lifetime, you're missing the bigger picture."
The Numbers Behind the Urgency
Studies show that 70% of wealthy families lose their wealth by the second generation, and 90% by the third, according to research by The Williams Group. James says this staggering statistic is proof that families must communicate, educate, and plan together.
"Financial independence is one thing," James said. "Keeping that independence for your children and grandchildren is another. It takes intentional conversations, transparency, and a plan that aligns with your values."
James also notes that charitable giving is an often-overlooked way to make wealth last beyond one's lifetime. He currently helps manage a Charitable Remainder Trust and several donor-advised funds, guiding clients on how to direct their resources to causes they care about.
Philanthropy as a Planning Tool
"Giving is a part of planning," James said. "It's about aligning money with values. When you incorporate philanthropy into your planning, you're not only helping others - you're setting an example for the next generation."
Data from the National Philanthropic Trust shows that charitable giving in the U.S. exceeded $557 billion in 2023, yet much of it comes from reactive, one-time decisions rather than integrated, strategic plans. James believes more families could amplify their impact if giving was part of their financial roadmap.
What Families Can Do Now
James stresses that individuals don't need millions in assets to begin multi-generational planning.
"Start with what you have," he said. "Talk openly with your family about goals, values, and what you want your money to accomplish. Then take the time to write it down and review it regularly."
His recommendations for families include:
Start the Conversation Early - Discuss financial values and priorities with children and grandchildren.
Document the Plan - Write down goals for wealth preservation and charitable giving.
Educate Across Generations - Teach younger family members the basics of saving, investing, and responsible giving.
Align with Your Values - Ensure your investments and donations reflect what matters most to you.
A Call to Action
"If you've never had these conversations, start now," James said. "It's not about money alone - it's about the security, opportunities, and legacy you leave behind."
James encourages families to schedule at least one annual "financial values meeting" to talk openly about priorities, goals, and ways to give back. "You'll be amazed at how much alignment and clarity comes from simply sitting down together," he said.
To read the full interview, visit the website here.
About Carey James
Carey James is the President and Owner of James Financial in Arroyo Grande, California. A second-generation financial advisor, he has spent more than 40 years helping families achieve financial independence and preserve wealth across generations. His work includes philanthropic advising through charitable trusts and donor-advised funds.
Contact:
info@careyjamesadvisor.com
SOURCE: Carey James
View the original press release on ACCESS Newswire
