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This session with the Salgar Family will provide background on the transitions underway in their family and how they used the Family Charter / Constitution to reaffirm the family values, align their goals, and organize their governance process. As part of the move from the first generation to the leadership of Gen 2-3, the family outlined the key c...

A family constitution—the rule book that defines the vision and principles of a family’s wealth strategy and acts as an operating model—should be as unique as the family itself. The key to developing an appropriate family constitution is not in the ultimate output, but in the collaborative process of developing it. In working together, families oft...

Family governance need not be an oxymoron. A conscious family governance system can help create an efficient and rewarding means of ensuring the family enterprise’s viability for generations to come. Therefore, any family enterprise that seeks to maintain and grow its wealth—financial, human, social, and intellectual—should consider creating a...

Many successful families have put their shared values and goals in writing, often called a family constitution. A constitution can help build family unity and harmony, and the creation process itself provides benefits to the family. Learn the value that families can derive from creating a constitution, the work involved in creating one, and the top...

Creating portfolios that are customized to a family’s unique investment goals and risk tolerance requires ingenuity and flexible thinking. However, the execution of risk management should be more systematic. Ultimately, the effective investors employ a risk management framework that accounts for potential risk at every stage of the investment proce...

While the artificial intelligence (AI) transformation is a part of the larger digital change, it’s taking on a life of its own. Even if a company can adapt to the change, it doesn’t mean it’s ready for AI. There are many more considerations, and it requires a different approach where the audit committee plays a crucial role that will bring valuable...

Although high-net-worth families and individuals recognize the importance of instituting formal family governance structures, doing so presents a complex task. For families who are committed to creating a flexible and durable system of governance, the benefits are lasting. Where To Begin Family governance need not be an...

For most of the period from the Global Financial Crisis in 2008 through the end of the COVID pandemic in 2022, the Federal Reserve held interest rates near zero. As post-pandemic inflation surged in early 2022, the Federal Reserve began a rapid rate-hike cycle that ended in July 2023 with the Federal Funds Rate at 5.25% - 5.50%. As noted in this In...

The list of compounding emergencies – both natural disasters and beyond – that we face today seems increasingly difficult to manage. A resilient family office is able to efficiently lead through crisis, recover essential family office functions, leverage lessons learned, and continuously improve their capabilities. Though practical guidance abounds...

For board members and non-executive directors, generative AI stands as a pivotal innovation that offers unprecedented opportunities to drive business value, improve productivity, reach broader audiences, streamline operations, and help address complicated global issues. However, it also raises complex business and ethical questions. To gain the ful...

After the Silicon Valley Bank (SVB) collapse marked another bank failure, it triggered questions regarding the various considerations and options for holding short-term funds. With this reference chart, see the comparisons that show the characteristics of demand deposits with government securities and various money market funds as cash managem...