A search for identity and independence in a personal journey separate from the family, a challenging of assumptions, a wrestling with questions. These are the 20-something years – critical, testing and thrilling, for both young adults and their parents.
Learning early on how to assist family members to understand the conceptual and practical aspects of their social connections is a central concern of the family. Using a confidentiality/non-disclosure agreement provides a structure and begins a process that sets the framework for this work.
Families that successfully manage generational planning actively foster communication and trust within the family, identify shared values that define the family, take time to establish a thoughtful family governance system and give younger members the opportunity to have an impact through active participation in family affairs.
Parents who are concerned about family harmony after their deaths are wise to address the issues of estate equalization as a key element of their estate and business planning. Most of the problems that would create disharmony among their children can be handled with careful thought and with wills, trusts and business agreements that clearly dictate...
Like the ancient Greeks, modern families need family governance to meet the challenge of preserving and transferring wealth across generations. A successful plan needs to look beyond financial capital to consider family assets, such as talent, education, experience, faith and values.
This paper addresses the options families have for investment education and offers basic direction for getting a true junior investment club off the ground. Contents include: --Five questions for families considering a junior investment club --Developmental options for investment education --Alternatives to true investment clubs --What is a jun...
Understanding the family history can help to create a family legacy, establish sound strategy to keep future generations interested in a family business and develop philanthropic missions for these future generations.
The five stages of raising the next wealth owning generation of a family and principals of each stage.
The differences between the belief systems and practices of stewards and inheritors within single Asian families and the confusion they create.
Investors are processing more data more rapidly than ever. For family offices, sticking to their principles and investing within a risk-adjusted framework has never been more important. With a greater number of opportunities, success will require families to reflect upon what has and has not worked, clarify the sectors or strategies where they have...
As families grow larger and more diffused—the epitome of an enterprise family—consensus seems ever more difficult to attain. In this Q&A, FOX’s Chief Learning Officer Mindy Kalinowski Earley and principal Jeff Strese of Jeff Strese Consulting Group discuss how families can reduce conflict by taking a consensus-building approach that can navigat...
This is the report of findings of the 2021 FOX State of the Ultra-Wealth Business. The full report is only available to firms that participated in the study. If your firm participated, please contact your FOX Relationship Manager to obtain a copy of the report. The study represents FOX’s best and most current thinking on the direction o...
As families of wealth and their Family Offices consider future success strategies, how ready are they to adapt? To help families prepare for the various stages of changes in the family journey, Dr. Jim Grubman shares the approach he uses—including the application of the Readiness Ruler—in this Q&A with FOX.
In this 2019 edition of FOX Foresight, we review how business owners need to shift shift to an enterprise mindset, and how family offices seek to redefine their role, and as a new generation of family members prepares for leadership in a time of great transformation. FOX Foresight is presented in 7 chapters: Managing Family Enterprises in a...
FOX Foresight – Voice of the Wealth Owner outlines what challenges and inspires family leaders and family office executives in the best and brightest family enterprises around the world. It summarizes what we have been learning from the FOX community and our subject matter experts over the last year. Please share it broadly within your fa...