The Most Valuable Thing to Your Children
As a wealthy family, what is the most valuable thing you can give your children? One sure way to find out the answer is to ask (too often parents don’t…
Family Business or Business Family?
According to Camden Research’s recent report, succession is a greater priority for families than wealth preservation. Of the two, succession is surely the harder to achieve. While we all push…
The Next Generation of Givers
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…
Conflict of Interest
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…
What Next?
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…
Talking about Money
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…
Rich kids relying on rich parents
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…
Politics and Family
With the recent US midterm 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…
Advisor Transition
With all the talk about intergenerational wealth transition, another very important topic doesn’t get the attention it deserves: transition of trusted adviser relationships. The baby boomer generation of advisers manage…
The kids aren’t interested …
Medium to large sized family business (turnover $50M+) have a problem: the next generation aren’t interested in joining. There are so many options out there in the job market (jobs…
Purpose in Retirement
People are living longer, which means time spent in ‘retirement’ is increasing – the latest US Census figures report the average retirement is 18 years. The huge numbers of Baby…
What is the ‘value’ of wealth?
Boston Private’s 2018 report “The Why of Wealth” surveyed respondents with new investable assets of $1-20M, and found that “individuals pursue financial wealth to achieve emotional well being”, rather than…
Falling from Grace: How Scandals Affect Family Businesses
https://familybusiness.org/content/falling-from-grace-how-scandals-affect-family-businesses
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#familyoffice #wealthmanagement #conflictresolution #strategicmanagement
#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
#entrepreneurship
Raising Responsible Heirs
https://davidwerdiger.com/2023/09/raising-responsible-heirs/ A conundrum of wealth creator parents
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#familyoffice #wealthmanagement #conflictresolution #strategicmanagement
#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
#entrepreneurship
Tips For Working With Family And Continuing Your Family Business
https://www.forbes.com/sites/forbesbusinesscouncil/2023/08/23/tips-for-working-with-family-and-continuing-your-family-business/
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#familyoffice #wealthmanagement #conflictresolution #strategicmanagement
#nextgensuccession #intergenerationalwealth #governance #leadershipdevelopment
#entrepreneurship
© 2023 David Werdiger. All Rights Reserved. Legals
