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family office Archives - Page 24 of 31 - David Werdiger

Apr 16
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Keeping Family Business Strong

Keeping Family Business Strong in Times of Change

By Familosophy, Featured Posts, LinkedIn, original 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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Apr 07
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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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Apr 02
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The Power of Pause; pandemic solutions

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

By Articles, Blog, LinkedIn 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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Mar 31
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International Burden Shifting

The two sides of public debt: Intergenerational altruism and burden shifting

By Articles, Familosophy, LinkedIn, repost No Comments

A fascinating research article discusses public debt and intergenerational burden shifting. Using laboratory experiments, it seeks to understand how voters make choices about the way public debt should be accumulated in the presence of multiple and/or overlapping generations. The study finds that in the presence of future generations, voters are comfortable with the government loading up with debt in the knowledge that this debt burden will have to be satisfied by future generations. But without…

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Mar 27
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From Cult to Crisis: A New Vulnerability in Wealthy Families

By Articles, Familosophy, LinkedIn, repost No Comments

The pandemic crisis is forcing the hand of family businesses to address the pace of change in new ways. Every day we must act and even make some tough choices—despite the lack of any reliable information about the best direction to take. Some owners make tough decisions on their own, rather than seeking help from others. Some choose impulsive or blind allegiance pathways. I wrote the following on the Bloomberg press about the Singh brothers…

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Mar 24
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Intergenerational Risk & Resilience

By Articles, Familosophy, LinkedIn No Comments

#Intergenerational necessity, vulnerabilities, and resilience are typical factors addressed in determining wealth transition. However, adapting to the changing demands, expectations and opportunities in the disruption via #pandemic will epically force family businesses to rethink their strategies. The immediate need for #workfromhome, revised #familybusiness strategy, #riskassessment, and governance are paramount for pivoting to #nextgeneration and #futureofwork organizations. In the UK, the final report by the Intergenerational Commission speaks in terms of an intergenerational contract – “the principle that…

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Mar 21
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How to Avoid the Impact of Social Distancing by David Werdiger

How to Avoid the Impact of #SocialDistancing

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

With many people forced into #remotework and/or #shelterinplace, it is essential to understand the impact of the family dynamic on a business. Besides the obvious space and time-management issues, conflict in family business happens differently, therefore must be resolved differently. Disputes within a family don’t escalate suddenly. They are often built on years of relationship sentiment that is latent or suppressed. With the current #pandemic the triggers for those conflicts can easily be fast-tracked and…

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Mar 20
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Tips to Avoid Choosing Business over Personal Relationships

Tips to Avoid Choosing Business Over Personal Relationships

By Articles, Familosophy, LinkedIn No Comments

https://youtu.be/VBjOcFtRqNw How many people have put their business life ahead of their spouse or relationship to its great detriment? While we can think of a business as a the living thing, unlike a spouse or a family member, it isn’t a sentient being. It won’t get mad at you if you don’t spend enough time with them. It won’t give you attitude. You can decide what you want the relationship with your business to be…

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Mar 17
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Talking about wealth by David Werdiger

Talking About Wealth; Navigating Communication with Heirs

By Articles, Familosophy, Featured Posts, LinkedIn No Comments

Most people with wealth to pass on have never talked to their heirs about how they plan to distribute their assets after they die because they consider the information too personal, according to a recent survey. In six out of 10 families, there is no process in place to ensure family wealth decisions are made and communicated effectively (from another survey). This is actually no surprise, because these sorts of discussions are among the most…

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Mar 15
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Family Vision, Dubai

Family Vision; Founding Fathers, Rising Generations

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

I’ve recently returned from a speaking engagement at a conference in Dubai, which was my first visit there. As I walked around the city and particularly the mall, I pictured “founding father” Sheikh Al Maktoum just a few decades earlier looking out on a desert, and imaging a future that few others could imagine. Creating modern Dubai took a huge amount of money and some outstanding engineering, but the most important ingredient was … vision….

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