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COVID-19 tested the resilience, creativity and crisis management skills of organizations, governments, and families around the world. As you reflect on the impact of the pandemic on your family from a historical perspective with your own family history in mind, this guide offers tips on how to collect, preserve, and share the memories and lessons l...

Families that have accumulated significant assets want to know how to best prepare the rising generation to help them maximize the benefits available to them, while also minimizing the unique challenges that occur when navigating the world of wealth. Younger family members may have different approaches when it comes to wealth. Understanding where t...

Many wealth management clients often want to know how to prevent their children from becoming entitled. Specifically, they’re concerned that their children will rely on family wealth instead of forging their own paths to success and will lack an understanding of money beyond how to spend it. Moreover, parents may inadvertently seed entitlement in t...

The most problematic challenge wealthy families face is not how to make more money, but how to ensure that it lasts. This requires focusing on something other than money. Successful families, whose wealth lasts for many generations, follow five key practices.

For most families, a large part of multigenerational success hinges on how they approach challenges and create opportunities. In unprecedented times of social distancing and school closures, there are ways you can use this unexpected “family time” to your advantage, including enhancing education for younger generations and foster family communicati...

While access to the privileges of wealth is a blessing in most instances, it can provide additional challenges in raising appreciative and self-sufficient children. As a parent, you play an integral role in helping your children learn self-sufficiency and financial literacy. If you want your children to obtain the financial skills and experien...

As no two families are alike, there is no one singular approach to family education—the cornerstone to a thriving, lasting legacy. The structure, topics, and educational methods all depend on the needs, wishes, and preferences of the family members. As you develop your rising generation education strategy, considerations should be made around the&n...

Often, families execute wealth transfer planning strategies without fully considering what wealth and family legacy means to them—particularly the importance of defining and sharing their associated social, economic, and philanthropic values. In this interview, two advisors examine the value of family education and the critical role advisors play i...

Whether knowledge is shared around the dinner table or in a boardroom, starting family member education early puts a family office in a strong position to strengthen the family’s legacy. While the education program would likely depend on family characteristics, there are three topics that should be part of the curriculum: basic financial literacy, ...

Growing up in a family business environment often rubs off on the younger generations, with some making the decision to start their own business instead of joining the family enterprise. Toward that end, getting help while staying true to their own ideas requires balance. Here are four steps that will help launch their independent business ven...

You know the value of encouraging children to learn and practice the basics of money management. And at age 11 or 12, it may be the right time to start a conversation about investing, including how it’s different from saving. Creating opportunities to teach your kids these basic investing principles, and then helping put those principles into ...

This series of short, educational videos provides an overview of the core elements of investing and some of the asset classes most commonly used in portfolio construction. Download the full presentation deck and explore the educational modules on the topics of interest that include: Setting an Investment Policy and Principles of Portfolio Cons...

We can’t explore the future of the family office without first exploring the future of the family in a post-pandemic world. The next decade will increase the complexity enterprise families face and offer family offices new opportunities and challenges. And, as those enterprises grow more complex, the family office becomes more important to every fa...

At our Family Office Exchange (FOX) Rising Gen Leadership Programs held in February and June, we noticed developing themes from our next-generation attendees. It became clear their needs and concerns were coalescing around three emergent areas. In this article we’re presenting a simple engagement pipleline to guide families and rising gen on their ...

As families and Family Offices look to increase future generations’ positive impact, high among their common goals, and common struggles, are delivering education and increasing engagement. Based on FOX’s thirty years of working with families, Family Offices, and Enterprise Families; conducting research; and engaging in consulting projects, FOX has...