clearview financial media Archives - David Werdiger
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clearview financial media Archives - David Werdiger

Family Values under COVID-19 Pressure by David Werdiger

Family Values Under COVID-19 Pressure

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

Imagine this scenario: a family owns an operating business, with a non-family member as CEO. In response to COVID-19, the CEO takes the necessary actions to ensure the business’s survival. That might mean cutting staff, closing stores, or putting harsh terms on suppliers/customers. The business is stabilised and able to return to a stable footing through the crisis. But something is amiss – there is a discomfort among family members about some of the specific…

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Family Governance

Family governance: why? when?

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

When family wealth is controlled or owned by a single person (usually the wealth creator), things are simple. But at some point, the wealth will likely pass to more than one person – the wealth creator’s children. In respect of the family wealth, the members of the family are bound together through three circles of involvement: family, business and ownership. That adds a huge degree of complexity, as no decision gets made in isolation. Strong…

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Entrepreneurial Legacy

Entrepreneurial Legacy

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

Most wealth is created through entrepreneurship: taking a risk to start a business, and growing that business. Some families with generationally “old” money (i.e. more than 3-4 generations removed from the wealth creator) may have their family wealth in passive assets, and the entrepreneurial spirit that created it is long gone from memory, sometimes irretrievably lost. For families that hold (or acquire) operating assets, it’s important to maintain that entrepreneurial spirit in subsequent generations, but…

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Family Business Advisor

What Advice do you Need?

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

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 governance structures of a family, and key people & structures may change with time. They need to know about communication, in order to help the family members themselves communicate well. They need to understand family dynamics, and get to know the ins and outs of…

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Values are Foundation to Success

Values are the Foundation of a Successful Family Business Transition

By | Articles, Familosophy, Featured Posts, LinkedIn, News / Media | No Comments

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 together in the sharing of assets. A key part of that is to integrate their wealth management with their values. That means the values need to be articulated within the family. Then, the family needs clear and open dialogue discussing values as well as financial…

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Next Generation Family Business

The Next Generation May Not Be Interested

By | Familosophy, LinkedIn, Uncategorized | No Comments

Transitioning a business can be difficult when the #nextgeneration aren’t interested … It turns out there are 4 core components to consider, and if you get them right, the conflict resolution usually runs very smoothly. 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 that didn’t exist in the previous generation) that the family…

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Purpose in Retirement - Stay At Home by David Werdiger

Finding Purpose in Transition – Retirement or Stay at Home

By | Articles, Familosophy, LinkedIn | No Comments

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 Boomers moving into this stage of life is becoming a phenomenon of its own, and could potentially ‘reinvent’ what retirement actually looks like. Just because they are ‘old’, doesn’t mean the huge Baby Boomer cohort won’t continue to change society rather than ride off quietly…

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Keeping Family Business Strong

Keeping Family Business Strong in Times of Change

By | Familosophy, Featured Posts, LinkedIn, Uncategorized | No Comments

Family businesses aren’t just businesses that happen to be owned and/or managed by a family. Factors like a long-term perspective, and the multiple/overlapping roles of owners, employees and family members are both strengths and weaknesses. These factors mean that family businesses need another set of principles to help them stay strong. Because many stakeholders have multiple hats, separation of powers is very important. Everyone needs to understand what their roles are (employee, manager, owner, etc)…

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Value of Intergenerational Wealth by David Werdiger

What is the ‘Why’ or Value of Wealth Between Generations?

By | Articles, Familosophy, LinkedIn | No Comments

The role of family offices has evolved from being an investment platform to guiding the next generation(s) back into the family business. A next-generation development program will help the next generation become good owners and future leaders. According to HBR, these programs focus on five key objectives: business ownership skills and competencies; family business principles and practical knowledge of the family business’ assets, understanding the family history and values; and developing personal leadership competencies. Boston…

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The Power of Pause; pandemic solutions

The Power of Pause; #Disruption of Family and Business Relationships

By | Articles, LinkedIn, Personal Blog | No Comments

The COVID-19 pandemic has caused a degree of change that we’ve never seen or even imagined before. Just a few months ago, few people would have believed that a virus would cause economies to shut down and cities and countries to go into lock-down. Quickly, we’ve needed to adapt to a new way of life. But the change we are experiencing and now expecting goes far deeper, and this is evident in the language we’re…

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