Most financial advisors say they care about their clients’ families, but Christine Heim demonstrates that commitment through concrete actions. As a managing director at Merrill Wealth Management, she oversees roughly $728 million in team-custodied assets. Studies suggest that about 70% of family fortunes are lost by the second generation and 90% by the third; Christine’s clients work to be the exception. Here’s how her approach differs and why it helps families preserve wealth across generations.
She Starts Every Relationship with a Financial Plan
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Before investing a single dollar, Christine develops a clear financial plan. That plan defines what the wealth needs to accomplish—income goals, legacy objectives, timing, and risk tolerance—so that portfolios are built to fulfill those purposes rather than chase market benchmarks. Many advisors construct portfolios first and then try to fit a plan around them; Christine reverses that order so each investment decision has a clear, goal-driven rationale.
Her Team Acts as a Bridge to Younger Generations
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Engaging younger family members early is challenging: adult children often remain on the sidelines until they inherit assets, which creates disconnects later. Christine’s younger team members proactively build relationships with the next generation, helping them understand financial strategies, responsibilities, and the family’s goals. That early engagement matters—research from Cerulli Associates finds only 27% of heirs continue with their family’s advisor, usually because a relationship wasn’t established beforehand.
Prioritizing Family Meetings
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Family meetings are a powerful but underused tool in wealth management. Christine arranges multigenerational conversations that create space to discuss financial goals, emotional considerations, and legacy intentions. These sessions help parents explain what they’ve built and what they hope it will mean for future generations. Clear, early conversations reduce misunderstandings and conflict later on.
Keeping 12 to 18 Months of Cash on Hand for Clients
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Market downturns are inevitable and often poorly timed. For clients dependent on regular income, selling investments at depressed prices can permanently damage a portfolio. Christine maintains a 12- to 18-month cash or near-cash reserve for such clients to avoid forced selling. This buffer preserves long-term positions and provides breathing room during periods of volatility.
Hunting for Blind Spots
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Clients often arrive with a clear agenda, but Christine listens for what’s missing. Common gaps include absent succession plans or unspoken assumptions about money that differ across generations. She focuses on identifying and addressing these blind spots early—before they become entrenched problems—so families can make informed, coordinated decisions rather than reacting to crises later.
Her Practice Runs on Referrals
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Rather than relying on cold outreach or aggressive marketing, Christine has grown her $728 million practice largely through referrals. Referrals matter in wealth management because clients typically recommend advisors they trust and respect, not just those they find adequate. Long-term relationships where clients feel valued naturally lead to introductions to family members, strengthening continuity across generations.
Using Alternatives Where They Make Sense
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Christine doesn’t add private equity, private credit, or hedge funds to portfolios to appear sophisticated. She considers alternatives only when they align with a client’s goals and eligibility. These investments carry higher minimums, longer lock-ups, and less liquidity, so she collaborates with Merrill’s CIO office to weigh tradeoffs and determine when alternatives enhance the overall plan versus when traditional ETFs and individual equities are more appropriate.
She Leads an All-Women Team Intentionally
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Women represent roughly 28% of the U.S. wealth-management workforce, even as they increasingly make household financial decisions. Christine intentionally leads an all-women team and emphasizes mentorship so younger women see leadership as attainable. Building the next generation of advisors requires deliberate effort and role models; Christine’s approach aims to broaden representation and strengthen the industry’s future.
She Doesn’t Avoid the Uncomfortable Conversations
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Succession plans and estate documents often go years without review, which creates confusion about the purpose and use of family wealth. Christine raises these difficult topics even when clients are reluctant because many multigenerational breakdowns stem not from poor investments but from conversations that never occurred when there was still time to have them.
Avoiding the All-or-Nothing Thinking
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Major financial choices can provoke extreme responses—either rushing into action or avoiding decisions altogether. Christine steers clients away from both extremes by outlining multiple options, explaining tradeoffs, and taking incremental steps. In multigenerational planning, a single poor choice can have long-term consequences, so being directionally correct and deliberate matters more than seeking immediate perfection.