Search Results

When initiating charitable work, it is important to remember that a foundation is also a business that requires developed governance practices. As Bill Gates said, “Effective philanthropy requires a lot of time and creativity. The same kind of focus and skills that building a business requires.” The processes and procedures that compris...

Wealth coaching is essentially the study of one’s relationship with money and wealth. We all have a relationship with money, and through money messages that we learned at an early age, this relationship guides the majority of behaviors throughout our lives. Individuals and families who engage wealth coaches can benefit enormously across a bro...

Families blessed with significant financial resources can make an amazing and long-lasting impact on the world. But that wealth can also lead to disagreements, grudges, and hurt feelings. Trying to hide from the conflict does not make it go away. The best thing a family can do is create a culture of open, honest conversation about the impact their ...

College years can be an exciting time for young adults, as they get their first taste of independence and being self-sufficient. However, the responsibilities of coming-of-age also comes with significant risks. Parents can help their college-bound children by following essential tips on reducing risky driving habits, managing cyber threats, and bui...

Moving from home to college is a rite of passage that requires a teenager to assume more responsibility for their actions and requires a parent to respect their child's budding independence. Before college-bound teens make the move, there are important factors families need to fully consider regarding their children’s personal safety, hea...

Over the past decade, matriarchs and patriarchs of successful families have been shifting their focus from their children to a broader group of individuals, such as grandchildren, siblings, and nieces. Often, they choose to create family banks, which are typically trusts that are funded to help individuals pursue entrepreneurial opportunities, vent...

The headlines were hard to miss: wealthy parents and coaches indicted on federal charges in a college admissions bribery scheme. Over 50 people, parents and higher education professionals, were charged with “racketeering conspiracy”—cheating to get kids into elite universities. The case is a cautionary tale reminding us that there...

All parents have reasons for why they do or do not share their wealth with their children, and neither option is without challenges. The key for parents is to find the balance between sharing everything and sharing nothing while also passing along the skills required to ensure their children become responsible inheritors and/or beneficiaries. ...

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...

Posting fabulous vacation moments on Facebook—from a boat in Belize, to the top of a mountain in Chamonix—might be a fun way to share experiences with your friends, but it’s also a great way to let bad actors know your home is empty and ripe for a break-in. Similarly, broadcasting details of a college semester abroad on Instagram ...

While there are many items family offices should look for in technology solutions, one vital component is reporting capabilities. For family offices considering a move to Sage Intacct, there are five reporting advantages you can count on to help deliver the data and transparency that are important to the family members.

The deep knowledge and bone-deep pride of business ownership that keep a successful business thriving do not automatically trickle down to later generations. An investment in education is often required. Knowing the story of the family enterprise is one tool for helping younger family members learn from the past, engage the present, and make their ...