While the family business may be delivering good returns, how much is it actually worth? Often, family members are disappointed that the market value does not reflect a large enough…
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A common challenge for family businesses is when the rising generation have no interest in taking over. This can be especially common in sectors like manufacturing or farming which may…
As a wealthy family, one sure way to find out the answer is to ask (too often parents don’t bother). According to a Wells-Fargo survey of Millennials, more than 90%…
What proportion of your family wealth is tied up in the operating family business? According to Camden Research’s recent report, succession is a greater priority for families than wealth preservation….
When it comes to advisors, I have two simple rules: Get good advisors Listen to them Family advisors need additional skills because they must work with the various members or…
How to maintain family wealth through generations? Get the best financial advisors and managers for operating assets? Other things are more important. Families of wealth must learn how to work…
Philanthropy can be a great way to engage different generations in a wealthy family, and for family members to find purpose where there is no imperative for paid employment. It’s…
The essential problem family businesses must deal with is conflict of interest, which arises when people have multiple roles – in the business, as an owner, and as a family…
We’ve previously discussed the effect of increasing life expectancy on wealth transition – the ‘problem’ of the ageing family member who refuses to step aside is more prevalent than ever…
Money is one of the few remaining taboo topics for discussion, but in wealthy families, it’s something that eventually does need to be discussed. The challenge is to develop a…
According to a Merrill Edge report, one third of “mass affluent” (mid-range wealth) Americans say their financial stability depends on their inheritance. But interestingly, this is more a result of…
With the recent US elections in the news, there is talk of generational shifts in the electorate (which will take some time still to have a significant impact), and with…
