Introduction Family businesses are unique and dynamic entities that bring their own set of challenges and opportunities. One of the most important challenges that family businesses face is the need to create a shared …
The Three Types of Family Advisors Academic literature has distinguished three types of advisors in the family business context: the formal advisor, the informal advisor, and the (family business) board member. Advisors differ from …
Practitioners in the field often see the “three generations”-rule play out. The rule, also known as the “30-13-3” statistic, states that the first generation builds the business, the second generation looks after it, and …
It is sometimes implied that the next generation will take over the family business. The children have been trained since birth to do so. But is this always a good idea? What does science …
Why form a council? It takes guts to amass a fortune; guts, confidence, and well, let’s face it, hubris. These same qualities which make success possible act as a double-edged sword within a family …
Much academic time and effort have been spent optimizing the handover from one generation to the next. Most of the literature derives its source from CEO succession plans adapted to family businesses and its …
As I am flying over the clouds heading for London, I can never quite avoid getting emotional. The peace and tranquility of the clouds get me every time. We get emotional about many things …
Introduction I’ve recently read the book “To Risk It All: Nine Conflicts and the Crucible of Decision” by Admiral Stavridis and have also got “Risk - A User’s Guide” by General Stanley McChrystal on …
If your family has struggled with wealth issues, you may well have heard the old saw about the loss of wealth: “from shirtsleeves to shirtsleeves in three generations.” For those familiar with the pitfalls …
Choosing the right individual or institution to manage your wealth can feel like a daunting task, but it’s good to understand the basics and figure out your personal priorities. This is a question we …