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Today’s wealthy families feel they are facing the greatest economic and social uncertainty in a generation. Amid the unprecedented challenges, most single family offices are being asked to address the human challenges of serving wealthy families as much as, or more than, the financial uncertainties. In a pulse check survey of 32 single family office leaders, it is clear there is a significant need for help with emotional and family dynamics challenges.

Effectively adapting to adjustments in economic culture and wealth is often difficult and requires families to balance past tradition with the need to move forward. Internationally-recognized family wealth psychologist Dr. James Grubman joins host Damien Martin to discuss the dilemmas, decisions, and challenges that come with wealth and share real-world stories for those both new to and coming from wealth. Here's what's covered:

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 communication through virtual family meetings.

Even when there's social distancing, family meetings are still important, maybe even more so to maintain family connectedness and sense of purpose. While connecting through technology can’t fully replace the experience of meeting in person as a family, you can make the experience more intimate. This report will help you organize and conduct a virtual family meeting. Just as successful in-person meetings require goal setting, agendas, and ground rules, virtual meetings benefit from similar planning.

One question that is often asked when working with family offices is “What are families like mine doing”? The interest in the answers is even greater during periods of crisis, such as the COVID-19 pandemic. Some of the world’s best investors and wealth stewards share their thoughts and insights into the unique challenges facing family offices, including investment management and opportunities, tax and estate planning, responsible investing and philanthropy, and governance and operations.

Family business leaders face unique challenges during this global pandemic. In addition to the health and economic factors facing all businesses today, many family business leaders have close personal ties to their employees and communities, some going back for generations. Family business leaders can use this time to enhance communication and education within the family system, reinforce their family values, strengthen business resilience, and offer support to employees and their communities.

In this conversation, Peter Begalla—a well-known family enterprise consultant and a trained family therapist—talks with Amy Hart Clyne about the pressures that families are experiencing and how family decision making and governance have become truncated during this unprecedented time. Peter offers an insider's perspective and shares how he believes the COVID-19 crisis will impact family governance.Topics discussed:

In this episode, Amy speaks with Dr. Dennis Jaffe, an organizational consultant, clinical psychologist, and one of the leading thinkers on how multi-generational families can enhance governance and empower next-generation leadership. Dennis and Amy talk about the impact of the coronavirus pandemic and how the uncertainty in today’s world plays out in wealthy families and increases the temptation for rash or reactionary decision making. Topics discussed:

The unprecedented speed, intensity, and uncertainty of COVID-19 has created a host of new and complex challenges for wealthy families that are playing out across both financial and family dynamics. There's no doubt it is a financial and business challenge, but it is also a very human one. To assist family office leaders and the families they support see and solve the issues in the most effective ways, a set of discussion questions are provided to help leaders prioritize and address both the financial and logistical considerations, as well as the very human ones.

The COVID-19 pandemic presented the entire world with unprecedented challenges. Although it may be uncomfortable to contemplate, the reality of the growing necessity of funeral planning presents family offices with a sudden and unexpected series of events that must be faced.