When it comes to reaching your family’s financial objectives and perpetuating its wealth, integrated family wealth planning is critical. A family governance system can significantly facilitate that process. This evergreen guide offers best practices and key elements of an effective family governance system, one that can be instrumental and flexible enough in equipping your family to navigate the challenges associated with family, business, financial, and legacy continuity.
Family Journey
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Taking Care of Business: Case Examples of Separating Personal Wealth Management from the Family Business
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Many family businesses don’t realize that separating the family’s financial affairs from the management of their operating company is an essential and lawful best practice. This report builds on FOX’s ground breaking study Managing Family Assets Separately From the Family Business by providing case studies to illustrate the challenges and opportunities in separation and specific steps for making that separation a reality.
50 Best Practices for an Enduring Family Enterprise
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Recognizing that enterprise families are unique, this research report provides the 50 best practices across 10 important aspects—from family governance to family learning and measures of success—that have the greatest impact on long-term sustainability of families of wealth across generations.
By identifying and addressing potential risks, family offices and enterprise families can proactively mitigate potential threats, protect their assets, and minimize the likelihood and impact of negative events. With insights and sound advice from the FOX community, discover the best practices for risk management and build resiliency into your enterprise—ultimately enhancing operational efficiencies, enabling better decision-making, and ensuring long-term sustainability.
There's a structural, philosophical, and cultural transformation taking place with the family journey. It's a paradigm shift toward an enterprise mindset that better balances managing the family's financial capital and nurturing its other capitals, especially the well-being of its members. Learning from the collective perspectives through the years and the forward-thinking practices gathered here, families who build from their strong foundation of success and values will continue to thrive and flourish across generations.