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Are We Reaching Charidy Fatigue

By Kim Adams20 December, 2015July 16th, 2021Articles, Blogspot, COL Live, Shmais

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As Charidy become the new online sensation, David talks about how this becoming an overused funding campaign. He pointed out that if this would go on, donors would be left in fatigue. [ COL Live, Blogspot, Shmais].

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Gender Equity in Family Wealth There are several

Gender Equity in Family Wealth

There are several good reasons why family enterprises should care about making active efforts toward gender equity. If they want family members to be involved, their talent pool is limited, so why waste 50% of their potential? A more diverse leadership team will reap the same benefits that have been noted in the non-family business world. Finally, family cooperation, collaboration and harmony are important to families, so excluding women from paths to leadership can lead to resentment and conflict.

In general, the family business world appears to be somewhat behind the corporate sector in explicitly considering issues of gender equity. There is variability across the world, and it is apparent that cultural norms play a strong role.

Some examples: only 7% of senior management positions in the 100 biggest firms held by German families are women, and the top people managing those firms are mostly male, German and advanced in age. In India, women-led family businesses have increased by 58% since 2007. In the US, married women 45 and younger are twice as likely as older married women to make the financial decisions in their families, which is partly due to women marrying at later ages than their parents’ generation (note that these studies are not directly comparable as they don't all focus on family enterprises).

Another portion of the US study measured unconscious bias in the financial advising industry and found that while most advisors have “good intentions,” they are still more likely to make (incorrect) assumptions about the investment knowledge and risk appetite of women.

https://davidwerdiger.com/2023/01/gender-diversity-in-family-wealth-2/

Actionable Generational Wealth Succession:
For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com.

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement
#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

How Women on Boards Navigate the “Warmth-Compete

How Women on Boards Navigate the “Warmth-Competence” Line

Gender parity on boards is showing signs of improvement. But having a seat at the table is just the first step; exerting influence around high-stakes decisions is vital, too. To better understand how women board members do this, researchers interviewed 43 women directors at U.S. companies. They found that these women had to navigate a fine line of appearing both warm and competent to get their opinions across, and did so using six key tactics: asking, connecting, asserting, qualifying, waiting, and checking. The researchers also note that it should not simply be up to women directors to navigate bias against them, and suggest four strategies for companies looking to improve gender parity on their boards — not only in number, but in influence.

Full article:
https://hbr.org/2023/01/how-women-on-boards-navigate-the-warmth-competence-line The Six Participation Tactics on Boards

Actionable Generational Wealth Succession:
For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com. We will send you the archive links from there.

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement
#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

Raising Heirs This is the conundrum of wealth cre

Raising Heirs

This is the conundrum of wealth creator parents: they want to raise children to value the hard work that helped them create wealth, but at the same time pass them wealth that means they never need to work. Talk about mixed messages!

In order to actually do this, one would have to live well below one's means, and/or withhold access for children to the family wealth so that they can live it 'tough' for a period of time until they were deemed 'ready' for the wealth. This is not just difficult, it can have serious unwanted negative side effects.

Instead, it might be better to seek to instil the value of 'stewardship' within the family: that the family is blessed with wealth, and what comes hand-in-hand is the need for responsible and conscientious management of the family wealth towards a higher purpose than consumption.

One cannot start early enough with the right kind of messaging as attitudes to money and spending are formed as early as age five. Children are often aware of the family’s spending, but don't always have a view of how much the family saves, invests, and gives back. We can prepare children for a successful relationship with money by telling family stories and talking about values.

Consider This: When did you find out your family was wealthy? How did you find out? Was that experience positive or negative? How does your family talk about wealth or answer questions from children about it?

Actionable Generational Wealth Succession:
For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com. We will send you the archive links from there.

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement
#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

Family Philanthropy Family philanthropy is the ac

Family Philanthropy

Family philanthropy is the act of a collective rather than an individual. It is rooted in the values of a family, carrying forward its name and legacy, and engaging its members.

That makes it about a lot more than just writing cheques. It needs people from multiple generations working together, and that needs to be driven by a purpose and strategy.

Two important surveys indicate that this is not happening effectively. According to a global study, only 30% of family offices have documented strategies to deploy wealth in a truly meaningful way. In another study, 76% of respondents said they are likely to give to different causes and non-profits than their parents, but 82 percent of parents believe that they and their children share the same philanthropic goals!

Sometimes philanthropic priorities are driven by "wealth guilt", for example fossil fuel dynasties where the rising generation are committed to climate change and sustainability. For some families, their giving can even be a form of reckoning with the source of their wealth. Seeing philanthropy as a rejection of their ancestors’ legacy is very negative.

There are signs of potential conflict and confusion within families over giving priorities. It's important to get ahead of this by having family discussions about purpose and values, and using this to articulate a philanthropy strategy.

Consider This: What is your family's philanthropic mission and strategy? How is it communicated within the family? If you don't have one, how can you get the process happening?

Actionable Generational Wealth Succession:
For more in-depth, thought-provoking discussion points and further commentary on family and business conflict resolution, access my Familosophy newsletter archives by signing into our newsletter https://DavidWerdiger.com. We will send you the archive links from there.

#familyoffice #wealthmanagement #conflictresolution #strategicmanagement #nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment�#entrepreneurship

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