All in the Family: The Risk and Rewards of a Family BankWarner King Babcock, AM Private Enterprises, Inc.; and Karen Neal, Managing Director, Consulting, Family Office Exchange Stimulating…and funding…entrepreneurship within a family enterprise can become risky business. How do you find the balance between encouraging the next generation of wealth creators while minimizing financial exposure and risk to the enterprise?
Family Learning
Resource Search
Future Owners of Impact: Empowering the Younger GenerationDanielle Oristian York, Director, 21/64 The next generation can bring unique skills and perspectives to the philanthropic community. However, the prospect of engaging the next generation can be daunting. Next-generation family members have grown up with access to broader opportunities fueled by information technology, increased diversity and global connectedness. The questions they ask, language they use, and even their values and priorities change the way the family communicates.
Creative Engagement - Kanter
Publish Date
Families often complain about the challenge of getting siblings and cousins more engaged in business and family activities. There is a great divide between the “make it happen” people and the “watch it happen” people in the family, and a risk of burnout for the family members who are providing the leadership.
Creative Engagement - Liautaud
Publish Date
Families often complain about the challenge of getting siblings and cousins more engaged in business and family activities. There is a great divide between the “make it happen” people and the “watch it happen” people in the family, and a risk of burnout for the family members who are providing the leadership.
Carl Robinson, Ph.D., Managing Partner, Vantage Leadership Consulting In a family enterprise, the greatest challenge is to engage family members effectively in leadership roles and governing board participation. The development of future leaders in the family is critical to its future, and the leaders' participation in family governance is key to sustaining the enterprise. As team of nationally recognized leadership consultants he will put a spotlight on the critical leadership skills needed in a complex family enterprise.
When the time comes for assets to be dispersed among heirs, everyday objects of sentimental value can become contested belongings. Many parents admit to worrying about the sibling rivalries this process may stir up. Yet, uncertain how to confront these issues, many tend to simply hope for the best. A better course of action: proactive discussion, as a family, during a parent’s lifetime.
Prenuptial Agreements and the Elephant in the Room
Publish Date
Approached the right way, a prenuptial agreement can strengthen the bonds of marriage and encourage a productive, healthy discussion of finances and expectations. Many religions require a discussion of finances in premarital counseling, but talking about money is very difficult and not a topic many people are accustomed to discussing.
When surveyed two years ago, U.S. family businesses were warily eyeing their next big bet but hesitant to place it. Now, they’re actively playing their hand. This report highlights the views of 100 owners, leaders and top executives of U.S. family businesses across a variety of industries.
Parents often struggle with determining when to talk with children about family finances, what information to share and how family wealth can be used to provide children with the best resources and opportunities without creating passive expectations that discourage financial independence. This sourcebook provides recommended resources categorized by type and, when appropriate, organized by age group.
To Reveal or Conceal: The Transparency Myth in Families of Wealth and Family Businesses
Publish Date
Questions of what should be revealed, to whom and when all make up what Inheriting Wisdom refers to as the “Transparency Myth.” The Transparency Myth relates to the belief that transparency among families, although generally considered a good attribute, can also have less productive results if offered at inopportune times. This paper examines in-depth the question of transparency, arguing that transparency among families of wealth is not a zero sum game.