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At its core, a mission statement serves as a compass, continually steering an organization or business toward their goals. For the families who undertake the process of creating a mission statement, it provides a similar and essential navigational tool. To be successful, however, the mission statement must resonate and mean something to everyone in...

When setting up a family legacy plan that extends across generations, it’s vital to have a family governance plan that empowers a family to govern its wealth and enterprises as a cohesive unit. While each family is unique, the keys to incorporating an effective family governance will be uniting around shared purposes, having a written family consti...

For a variety of reasons, Americans tend to be reluctant to discuss the specifics of their wealth—especially with adult children. While there may be discomfort around talking about wealth, there are several good reasons and ways to have these critical conversations. For more insights and tips on ways to set the stage for better family comm...

“History never looks like history when you are living through it.” (John W. Gardner) ... Future histories of the 2020 COVID-19 pandemic will draw heavily on the stories we preserve now. From social distancing to virtual classrooms to Zoom fatigue, every day tests our resilience and resourcefulness—much as World War II and the Grea...

Getting divorced is not only a highly emotional, it can also be complicated and challenging. Depending on your life stage, your family situation, and your life priorities, there will be different financial considerations. Whether you are financially savvy or have little experience in handling your finances, you will benefit from working through you...

Despite the challenging environment of COVID-19 and social unrest, having a sound framework can empower you to make wise financial wealth decisions. Good financial health does not keep markets from going down or being volatile, but it does allow portfolios to weather those storms without suffering lasting harm. The key is maintaining proper perspec...

The trustee and beneficiary relationship has great potential to be personally rewarding for both parties. It can also be very challenging. The path for success starts with some crucial conversations about what’s involved in the trustee role. This 2012 FOX Fall Forum session looked at the critical steps grantors, beneficiaries and trustees must...

As the baby boomers retire, many family office and multi-family office executives in key roles who have served the same clients for years will be leaving their roles. This change has significant implications for family members who lean on these leaders for insight and comprehensive knowledge of the family’s interests, advisors who look to them to c...

Family leaders are finding that to cultivate family members’ interests, talents, dreams and careers to their fullest potential, they need to constantly develop new strategies, new roles, and new understandings. Ann Dugan of the Institute for Entrepreneurial Excellence and Pitcairn Chairman Dirk Jungé led this 2012 FOX Fall Forum session that d...

Leadership succession is perhaps the most uniquely challenging issue a family faces. It transcends the business of wealth management to touch on personal issues of family dynamics and engagement. It is for this reason that you need a clear, transparent and understandable plan for making a change in leadership, one that helps you balance preserving ...

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...

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 play...

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.

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 su...

Thoughtful planning before the sale of a business can yield many benefits to its owner, including ensuring the owner’s family is financially protected if something unexpected happens to the owner or the business before a sale, reducing potential family conflicts that may arise as a result of a potential sale and minimizing the impact of futur...