"Money camps" have captured the imagination of both promoters and the press for years now without actually gaining much ground. After all, old money already has its summer playgrounds for the kids.
However, stories like the "Global Fellows in Social Enterprise" camp currently being organized by bona fide millionaire Michael Loeb provide a good entry point for conversations with clients on how they'd like their kids to grow up.
Should the kids spend six weeks every summer "under the instruction of business strategy coaches and captains of industry" in order to become better hereditary tycoons or corporate sharks?
Or should they instead be learning how to use their likely inheritance to enrich the world, perhaps through a fact-finding tour of some impoverished country?
Many of your best clients are very concerned that the kids or grandkids will grow up to be the kind of money-obsessed snobs that Loeb promises his camp is not about. Helping put their fears to rest -- maybe with a contingent trust or a donor-advised fund, or even a summer job to funnel family funds into a wage-funded IRA -- definitely proves your value.