By: Philip Marcovici and Gina Pereira, STEP Journal, published 2021

This Guide seeks to engender a discussion on responsible stewardship and what it means
for wealth holders. It does not attempt to provide answers, but rather to provoke thought
and raise awareness of the opportunities available to wealth owners to be guided by
stewardship principles and values. It is a living document, offering insights into how
responsible stewardship can guide decisions to help families plan. It aims to be a resource to facilitate a discussion within families embarking on or furthering this journey directly or with the support of trusted advisors, whose role is to raise the right questions and help families get the answers. Readers may use this Guide to facilitate a broad discussion around family governance and planning during a family retreat or roundtable. We hope that it will provoke discussion and enhance the understanding and fostering of stewardship for wealth holders globally.

Philip Marcovici and Gina Pereira, 2021

This report by STEP, “Responsible Stewardship: A Guide for Wealth Holders,” is an essential resource for families committed to sustainable and ethical wealth management. Amid rising income and wealth inequality, highlighted starkly by the COVID-19 pandemic, this guide offers a timely and profound exploration of responsible stewardship. It underscores the importance of planning for immediate and long-term needs, balancing family interests with those of our communities, countries, and planet.

This report is designed to provoke thought and raise awareness about the opportunities available to wealth owners. It emphasises the principles of trusteeship and stewardship, advocating for a long-term and holistic approach to wealth management that benefits current and future generations. This living document provides insights and frameworks to guide families in their planning processes, whether independently or with the support of trusted advisors. This guide is invaluable for facilitating broad conversations around family governance and responsible wealth stewardship. The authors, in collaboration with STEP members, envision this guide helping advisors steer families toward decisions that align with responsible stewardship principles, ultimately fostering a more equitable and sustainable future for wealth holders globally.