Inherited wealth is a wonderful gift, as well as a great responsibility which can sometimes create an arduous journey of self-examination. 

Children of wealth face different challenges from their peers, trying to live their lives according to a wide range of familial and societal expectations, both implicit and explicit. 

Ursus Advisory was founded to provide impactful and trusted advice, and guidance rooted in similar peer experiences. From first-hand experience we understand the obstacles which can interfere with leading a gratifying life. 

On my 21st birthday I was given a significant amount of money by my father, Avery Fisher. While receiving this inheritance was a joy and a surprise, it also created a whole new set of challenges. Very few of my friends had this level of financial freedom, and it took time for me to figure out how to be a good steward of this wealth, and how to find my own path in life. 

I had few resources to help me navigate the subject of inherited wealth and its effect upon me personally. Perhaps even more difficult than coming to terms with the money I inherited was growing up and then continuing to live in New York City, where my father’s name was iconic. I was always known as “the son of….” My goal was therefore to establish my own identity without negating my heritage, nor having it overshadow me. 

Over time I did just that, but without the benefit of mentorship which I now provide to others in this unique situation. In the past 45 years I’ve pursued a wide range of interests which have led to a productive and fulfilling life in business and non-profit pursuits, and to building a family. It is a pleasure to guide clients through thoughtful, weekly conversations which help shorten the period of struggle, especially in one’s 20s and early 30s – key years for personal development. 

These reflections and the desire to help others led me to establish Ursus Advisory five years ago, both for UHNW NextGens as well as those who have experienced early exits and are grappling with the challenges of possessing newfound wealth. 

Key topics frequently explored in conversations with clients:

-- How to understand and appreciate the origins of your family’s wealth and its unique challenges; 
-- Building genuine and honest relationships, both within and outside of one’s economic peer group; 
-- Friends and partners and how they relate to you and you to them vis-a-vis your wealth; 
-- Choosing a life partner who understands and appreciates the responsibility of great wealth and can appreciate you apart from your money; 
-- How to understand your parents and siblings as people, defuse tensions, and build self-worth and personal independence; 
-- Money and your personal identity; how to spiritually separate yourself from your money while using it for your own purposes;  
-- Learning to embrace the importance of staying engaged in the work you choose no matter which field you pursue; and 
-- The importance of hobbies and interests, clubs and associations and the meaning of third places. How to become a full person and gain breadth and perspective.

It is a pleasure to provide this level of individual service to clients based upon a lifetime of observations, as well as extensive conversations over the years with dozens of young inheritors.

Through our work clients discover, identify and put into practice the elements of what it means to create and lead a happy and productive life.

About Chip Fisher

Chip is a serial entrepreneur who inherited part of a large family fortune at the age of 21. He has spent a lifetime examining the principles of wealth while building his own life outside of his family’s legacy. He founded Ursus Advisory more than five years ago. Chip is based in New York. For more than 18 years, he was involved with Fisher Wallace Laboratories, acting as chairman from April 2019 at his family firm.