Skip to main content
Category

original

Manage or Avoid Conflict

Manage or Avoid Family Conflict?

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

What would you rather in your family: to manage conflict or avoid it completely? Before you jump to door number two, snap out of fairy tale land and accept that family conflict cannot be avoided. Conflict is a part of any relationship, and especially present in families, and even more so when significant assets are added into the mix. When family members are driven by self-interest, this leads to zero-sum dynamics. The ‘losers’ in any…

Read More
queen elizabeth II - king charles III

QE2 -> C3

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

The leadership transition from Queen Elizabeth II to King Charles III has been a fascinating insight into the preparation and execution of a succession plan. Within minutes of the announcement of her passing, the media was flooded with coverage, clearly well prepared in advance. Established protocols, known to insiders, were quickly put into place. Everyone was ready for this, yet when the moment came there was an outpouring of grief for one of the most…

Read More
family office priorities

Family Office Priorities

By Articles, Familosophy, Featured Posts, In The News, LinkedIn, original No Comments

Family offices (FOs) come in so many shapes and sizes that the term ceases to have specific meaning. It’s simply a set of services provided for a family. The origins of the FO often determine their primary focus: there are plenty of FOs that are simply vehicles for co-investment, or glorified reporting platforms. Having a FO essentially means taking a professional approach to managing the affairs of the family. It’s interesting that 92% of FO…

Read More
Family Business Until They Divorce

Until They Divorce?

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

You join a family through birth or marriage, and leave it through death or divorce. But if by divorce, it may not be possible to fully “leave”, and the process itself can be traumatic for a wide stakeholder group. A significant focus of estate planning for families is about ensuring that the family assets are “protected” in the event of a divorce. But how about the time until a couple divorces, i.e. the time they…

Read More
Seeking Empathy - Family Business

Seeking Empathy

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

I have a lot of empathy for Tom Brady. While not in his ‘league’ on several fronts, I can fully appreciate his exasperation at the challenges of teaching children with wealth to understand “the real world”. Anyone facing these and similar challenges deserves to be taken seriously, and to get the support and empathy they need to deal with the issues. There’s just one small catch. People who don’t have or genuinely understand the experience…

Read More
wealth and happiness

Wealth and Happiness

By Articles, Familosophy, Featured Posts, In The News, LinkedIn, original No Comments

Q: If the world’s two richest men cannot keep their wives happy, what hope do we have? A: No, that’s not a real question – it’s a meme that circulated following the news of the divorce of Bill & Melinda Gates. Many people with wealth realise that money can’t make a wife (or anyone) happy, but that doesn’t stop them trying. In business, sometimes we decide to “throwing money at a problem”. That means directing significant resources…

Read More
Buy- vs Sell-side Philanthropy

Buy- vs Sell-side Philanthropy

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

There are many consultants out there who advise non-profits on things like strategy, marketing, grant-writing, etc. The market for the philanthropic dollar follows the usual 80/20 rule: 80% of the funding comes from 20% of the donors (it’s probably far more skewed than that – more like 95/5). A particular area of focus for consultants is therefore how to capture the high-end of the market – HNW family giving. We can think of this as…

Read More
Lawyer or Friend?

Lawyer or Friend?

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

Friends and family members often turn to lawyers (and other professionals like accountants and wealth managers) they know in because they naturally trust a lawyer who is close to them rather than a stranger. But is this the best approach? Advisors can provide the best services when they are objective and are governed by reason and not by emotion. Often, and especially in a family situation, they specifically need to be the voice of reason…

Read More
Owners and managers of a family business

Owners and Managers of a Family Business

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

Family is (hopefully) for life. If the family business starts to interfere negatively with the relationships in the family, then there is imbalance. Family businesses are challenging because of the overlapping of family, business and ownership (known as the “three circle model”). Researchers from Harvard have extended this into four “rooms” by adding in the board room. Because family members wear multiple hats, are in multiple circles, or sit in multiple rooms, they need an…

Read More
What is retirement

What Is ‘Retirement’?

By Articles, Familosophy, Featured Posts, LinkedIn, original No Comments

The term ‘retirement’ evokes a certain scenario: someone spends their working life in employment, accumulating savings along the way, then ceases work (perhaps in their 60s or beyond), lives off their savings and enjoys a life of leisure instead of work. While that scenario may fit for a large proportion of people, there are many for whom it is completely meaningless and foreign. Plenty of entrepreneurs ‘retire’ after a business sale, quickly get bored, and…

Read More