Transitioning a business is a once-in-a-lifetime event, and “entitlement” comes up in almost every family discussion, presentation or lecture I give. It has become almost a dirty word when it…
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Consider This: Are you (and your family) aware of both the direct and indirect ways wealth is transmitted? This can make for a good family discussion about the value and meaning of wealth.
And does being ‘happy’ mean something different to those who have wealth and those who don’t? These are the questions considered in a recent research study. Most anyone who has…
How Do Subsequent Generations In Your Family ‘Prove Themselves’?
Consider this from two perspectives: the family and the individual. Do families demand that younger generations prove themselves in some way, perhaps before being allowed to join the family business…
This is a difficult topic to broach, and needs to be done only in appropriate settings – indeed, that might be the most important message of this topic. After the story of BMW heiress Susanne Klatten went public, she was slammed on social media. Her personal challenges – the responsibility, self-doubt, and being targeted by scammers – are real. But it’s very hard for anyone brought up without wealth to have any sympathy (and often it’s the reverse), so seeking it from ‘outsiders’ is almost a waste of time.
Letting Go
“How do I transfer wealth to my children without spoiling them?” That would be the most common question I am asked, and for most people, stands at the heart of…
The real problem with “OK, Boomer”
You may have seen the latest viral meme sweeping the internet. “OK, Boomer” is the response of younger people to complaints by older people about their behaviour and attitudes. Readers…
Having independent voices – around the board table, or generally advising the family – can be very helpful to unpack complex, multi-layered issues. They can also assist with the establishment of more formal (but not necessarily too formal) governance and dispute resolution processes.
The Other 50%
Women are at least 50% of the population, yet historically have been poorly represented in the wealth industry – as custodians and managers of family wealth, in family business, and…
Advisor Transition
The rising generation stands to inherit significant wealth, and families are spending much effort and expense to ensure that they are well prepared to become effective custodians of that wealth….
Resolving Conflict in Family Business
When seeking to deal with conflict in family business, it is essential to understand the impact of the family dynamic on a business. Conflict in family business happens differently, therefore…
Generational Differences in Philanthropy
Family philanthropy can be a very effective way to bridge generations and engage the rising generation. However, according to a recent poll from Key Private Bank, there are significant differences…
