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Gender in Family Wealth

Gender in Family Wealth

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

There are several good reasons why family enterprises should care about making active efforts toward gender equity. If they want family members to be involved, their talent pool is limited, so why waste 50% of their potential? A more diverse leadership team will reap the same benefits that have been noted in the non-family business world. Finally, family cooperation, collaboration and harmony are important to families, so excluding women from paths to leadership can lead…

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Family Office Challenges and Opportunities stemming from COVID

COVID Challenges & Opportunities

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

Different places around the world continue to deal with the challenges of COVID in different ways. Whether they are experiencing a second wave, or varying degrees of opening up, many of the challenges and opportunities are still present. The issues that have arisen through the pandemic are primal, and place the fragility of life in sharp relief. Our instinctive responses also also primal: fight/flight/freeze, and we can remain locked in such states for a prolonged…

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defining happiness blog by David Werdiger

Defining Happiness; wealth, love, something else?

By Articles, Familosophy, LinkedIn No Comments

Can money buy happiness? 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 wealth would find it obvious that the answer to the first question is a resounding ‘no’, but it takes the rigour of an academic to first define happiness (life satisfaction and a set of distinct positive emotions), and then examine the…

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intergenerational wealth transfer

Two-speed intergenerational wealth transfer

By Articles, Familosophy, LinkedIn No Comments

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. The US Federal Reserve have completed a study on how intergenerational wealth transmission can affect wealth concentration. The issue of “inequality” is a popular one – the notion that the rich are the primary beneficiaries of national economic benefit (at the expenses…

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Challenges in Family Business Succession

Challenges in Family Business

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

Studying failure is far better than studying success because it’s easier to avoid doing the wrong things than mimic the good that others are doing. Here are some of the ways things can go awry: Families and businesses don’t grow at the same rate. From the third (and sometimes second) generation onwards, the family often grows faster than the business. What happens if many family members look to the business for employment or supplementary income?…

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Family Office Governance

It’s all about Governance

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

In times of chaos, economic uncertainty, and the crushing burden to lead the family’s assets out of the fire, the need for governance grows even stronger.  Too many families consider family governance as a side dish – a pesky bug that wants to take away all the attention and resources from the main priorities which are revenues and operations. There is also an emotional side to effective family governance which is often overlooked by the…

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Wealthy Family Conflict Resolution

Wealthy Family Conflict

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

Case Study: A wealth originator dies leaving a second generation son in charge of the operating business and family fortune. A mix of 2nd and 3rd generation family members are employees but a 3rd-Gen college grad, never having worked in the family business, proposes a new business venture and asks the family to invest. Read this Horizons Article on how best-selling author David Werdiger describes a resolution-construct to navigate between the conflicting agendas and uncover…

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3 family lessons of Greanleaf series on Netflix

Three Family Lessons from Greenleaf (on Netflix)

By Familosophy, Featured Posts, LinkedIn, Media No Comments

A powerful and prominent family, and the religious institution they run. That was more than enough to pique my interest, and after rapidly working our way through three seasons of the outstanding Netflix series Greenleaf, it reinforced so much I already know about family business, succession, and intergenerational transition. When telling people about this series, I delay mentioning the setting – a African-American mega-church in Memphis. While that aspect adds a wonderful dimension, the intersecting…

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How to raise un-entitled kids

Wealth, anxiety and privilege

By Articles, Familosophy, LinkedIn, repost No Comments

Consider This: How do you explain your family wealth to young children? At what do you start this process? How do you say ‘no’ to them and place limits on their spending when they reply “but we can afford it”? Affluenza and entitle-itis are some of the newest ‘diseases’ that afflict the wealthy, and of course there is always the ubiquitous ‘privilege’ that almost everyone is now obliged to check. In her book Uneasy Street:…

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top 3 causes of business owner burnout

Top 3 Causes of Business Owner Burnout

By Articles, Familosophy, LinkedIn No Comments

The top 3 causes of Business Owner burnout include long hours, family strife and organizational chart mismanagement. A dose of preventive medicine could go a long way. A compelling question that inspires action; What would happen if I was run over by a bus? Not just to my business, but to my young and growing family. I couldn’t just fob this off – it went to the core of what I was trying to achieve…

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