To Reveal or Conceal: The Transparency Myth in Families of Wealth and Family Businesses

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. There are shades of transparency that can help families deal with the information dissemination decision, and there are tools and resources available to families to help them in navigating that decision.The authors propose that transparency among families of wealth is not a zero sum game. There are shades of transparency that can help families deal with the information dissemination decision, and there are tools and resources available to families to help them in navigating that decision.