In my previous article, I highlighted the critical role of financial reports in assessing business performance and health. However, to extract meaningful insights from these reports, it is crucial to concentrate on key performance …
Introduction Family business transitions, especially when siblings require financial compensation, represent one of the most intricate aspects of wealth management. These transitions demand careful consideration of multiple factors, each with its unique challenges and …
Introduction In the dynamic world of finance, the ability to navigate through vast amounts of financial information is a crucial skill for high-net-worth individuals and their families. To achieve sustainable growth, it is essential …
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 …