Many employers and family offices find performance reviews can be a challenging task. But with a new take—one that turns a performance review into a career conversation—it can become an opportunity to establish a healthy dialogue that provides space to exchange feedback, assess performance, and “take the temperature” of the manager and staff. The time spent with your team is valuable, as well as critical to the success and cohesiveness of your organization, business, office, or home.
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While it is true that having money can create great opportunities, it can make some people feel awkward and harbor deep feelings of regret and shame. Those feelings can dramatically influence wealth management decisions, affecting both the inheritors and wealth creators. When issues surrounding wealth as a burden go unrecognized, they can be magnified over several generations and result in dysfunction and conflict. To resolve these feelings, it is helpful to become explicitly aware that they exist and then to look more deeply at their source.
Communication is found to be the most important factor for cohesion in families and sustainability of family wealth. As one of the key tenets to happy, healthy, and thriving families, it is essential for family members to dedicate the effort necessary to become better communicators. Practicing effective communications—including being open and listening empathetically—will go a long way in building strong relationships, especially for families who work together around shared ownership of family assets.
Family connectedness, not money, has the greatest influence on multi-generational family continuity. But when many think about legacy, it’s often in the context of multi-generational financial wealth. Money, though, masks what people are really interested in passing to future generations of their family.
Families of wealth and business-owning families face security risks in their everyday lives, where personal and business risks are often blended and are typically managed by different people and processes. This creates a gap in identifying risks and solutions that can be addressed through a holistic and collaborative risk management approach.
As Artificial Intelligence (AI) gets more sophisticated and weaves further into the fabric of human existence, what are the implications for work and society? How will AI, its evolution, and some of its potential future mind-bending possibilities impact investors? While the answers are beyond the reach of a single article, having a better understanding of the AI phenomenon is important for investors hoping to participate in an emerging trend that will shape the future for years to come.
Housing demand in the United States remains brisk even as issues with supply and affordability mount, particularly in the West. Solid sales and consumption are forecasted throughout the economy this year, with housing starts sustained near their current level of 1.25 million at an annualized pace. The Real Economy also offers a look at government resources available to companies for cyber reporting, provided by U.S. Chamber of Commerce. Then, an examination of how growing trade tensions with China are impacting some middle market companies’ supply chains.
As part of federal tax reform, Congress created a new “Qualified Opportunity Zone” program to encourage investment in businesses that are located in low-income communities.
Over the past year, the improved picture of the financial services community has been predicated on rising interest rates, strong financial conditions, modest inflation and an overall improving economy. Recently, a flattening yield curve has fostered concern about a premature end to the positive business cycle. However, things are not quite what they seem. The Real Economy also examines the escalation of U.S.-China trade tension and what it means for the makers of consumer products. And a future where blockchain takes a leading role in business is closer than you may realize.
Have you ever been asked to manage another person’s property and finances? Perhaps a family member named you as agent under a durable power of attorney, so that you can manage his finances if he becomes disabled. Maybe an elderly neighbor added your name to her bank accounts because physical limitations prevent her from leaving the house and she needs you to handle her banking. Helping a person in need is commendable, but you should understand the legal implications and risks before you accept and start to act.