Family business consultant Kenneth Kaye discusses some characteristics that facilitate trust among family members in two types of enterprises – family offices and family-owned businesses – as well as a conflict resolution intervention that capitalizes on humans' instinctive propensity to trust.
Families need to learn how to talk about money openly and participate in saving, spending and giving together. The result, Silver Bridge Advisors says, will be an increase in the number of financially thoughtful children in the world, a greater ability for the next generation to use their wealth responsibly, and an increased likelihood that family values will endure for generations.
The authors discuss the impact of the addicted client on the emotional well-being of financial planners. They explore how to recognize the signs of addiction, seek competent assistance, and support recovery including what works for improved treatment.
Even for families with generations of addiction, it is possible to achieve sustained recovery and secure the family's finances. Finding the right help for those of wealth and prominence requires persistence, knowledge and professional cooperation with proven, reliable treatment programs.
The most intractable conflicts that arise in business-owning families occur when parties support their opposing positions by reference to histories that contradict each other in essential points. Here is a method of using the shared core of opposing stories to maintain reasonable discussion of primary, must-solve issues while not allowing the myriad secondary issues to block agreement on central ones.
From planning an agenda and obtaining family buy-in to selecting the right venue and leading an event, this short article is replete with practical ideas for organizing family meetings and making them both fun and productive for participants.
Without question, Jay Hughes has changed the thinking of most families and wealth advisors regarding how family assets are defined. Over the past 20 years, Jay and Sara Hamilton have discussed the many critical challenges that families face and the transitions that occur as they cross the generational bridges. In this 2009 FOX Fall Forum presentation, Jay and Sara have share for the first time their insights from these client experiences, and the important concepts that Jay has developed are brought to life as they reflect on the lessons learned from the exceptional families they have served.
In a discussion at the 2009 Fall Forum, Kelin Gersick, Ph.D., comments on the benefits of teaching succeeding generations to be engaged owners and not just stewards of the family legacy.
In this 2009 FOX Fall Forum presentation, Ellen Perry outlines four ways in which families of significant wealth can enhance their human capital, developing the skills and talents of the younger generation, strengthening family ties and enabling individual members and families as a whole to flourish for multiple generations.
A tough economy can bring out the worst or the best in families who face difficult discussions and decisions about reducing philanthropic efforts, selling or changing a family business, or coping with a family member's problems. This article from RayLign Advisory contends that solid financial information and a no-nonsense approach to emotional subtexts can mitigate harm to family relationships.