Family Governance

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The Enduring Legacy of Business Families
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Each family’s legacy is as unique as the family itself. It can be a bloodline, a name, heirlooms, a legal entity or family stories, myths, and artifacts. In this fourth and final report in the series on family business succession, key insights are shared on the important role that legacies play in uniting the core purpose of the business with the family’s abiding values. If you missed the other three reports in the series, you will find them here:

Ensuring a Smooth Leadership Succession Process
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This seminar is a deep dive into the topic of succession, including how to proactively plan for and manage family leadership transitions. Speakers will consider ways families can anticipate their needs before a succession crisis occurs. They’ll also cover how to open up communication with the rising generation and prepare them for their emerging responsibilities. They will look at leadership potential “markers,” as well as the competencies rapidly becoming essential for the future. They will also address the handoff itself – when to let go and how to successfully step up.

BKD Podcast: The Family Office—Why Have One?
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Join host Damien Martin in his ongoing quest for insights and best practices for affluent families and their advisors as he sits down with guest Jeff Davidson to unpack the often mystifying and sometimes daunting world of the family office. Here’s what’s covered:

Private Wealth vs. Family Wealth: A Holistic Approach to Sustaining Generational Wealth
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Family wealth encompasses more than the financial capital of the family. From a multi-generational and family sustainability perspective, it’s about thinking beyond the private wealth and incorporating a holistic approach that prepares the human capital, enhances the intellectual capital, and builds the appropriate governance framework. This shift in thinking and practice will foster clearer communication among family members, stronger family cohesiveness, and well-prepared heirs who are better positioned to govern the family enterprise.

Should You Have a Family Constitution?
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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 topics to include in your family constitution.

Considerations for Rising Generation Education
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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 establishment of a solid foundation, forum and format, and taking a gradual approach.

Preparing the Rising Generation for Leadership and Succession
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Succession and Generational Transition is a key concern for over half of FOX’s family member leaders. Similarly, our rising gen research shows that 53% of the rising gen view leadership and skill development, as well as defining future roles in the family, as a challenge. Together, Sara Hamilton, Founder and CEO of Family Office Exchange, and Mindy Kalinowski Earley, FOX’s Chief Learning Officer, addressed the concerns and challenges of each constituent group, and provided solutions for preparation, transition and succession.

Ten Dynamic Forces for Change (2021)
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Each year brings new possibilities – and 2021 is no different. Emerging from the pandemic. Deepening social change. More predictable U.S. politics. The way we see it, 2021 will be a year many families turn optimistic and begin to act on rising opportunities. And while much remains uncertain, some changes are already either steaming ahead, or emergent on the horizon. These Forces for Change are what you will need to prepare for, through 2021 and beyond.

How Our Relationship With Money Impacts Wellbeing
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How we talk about money matters. It affects our quality of life and our wellbeing. Too often, today’s consumer culture shapes our money habits and values. This can lead to consequences such as increased stress and diminished wellbeing — regardless of net worth. Nathan will discuss how all of us can think positively and proactively about our finances and our future — including bringing values into the equation when making decisions about money.

Unpacking the Family Investment Committee
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What’s the first step in investing if you’re given the opportunity? How do you collaborate effectively within a committee of family members tasked with investing a portion of wealth? If you already have an investment committee formed, how do you report back to the family governing body or refine best practices? These questions and more will be addressed by seasoned FOX members with deep family investment committee experience.