Family Enterprise Oversight
Families and their wealth are complex enough on their own. Add in a family business and you compound the complexity. We have the trained, experienced people and partners to help you implement and manage the tools needed for your Family Enterprise.
We act as your Chief Family Enterprise Advisor (FEA), guiding your family so you can focus on the things that really matter to you.
We manage your family’s tangible assets, such as…
- Operating Business Assets
- Financial Assets (Including Holdco, Trust)
- Real Estate Assets
- Philanthropic Assets (Private Foundations & Planned Giving Accounts or Insurance)
- Heirloom Assets (those things to be passed down through generations)
- Deferred Assets (Insurance Policies)
A family also has their intangible assets:
- Intellectual Capital (your cumulative knowledge as a family)
- Social Capital (your connections and influence)
- Human Capital (you, each family member and your key people)
- Spiritual Capital (your beliefs and values)
Contrary to most people’s belief, the real wealth of a family is in the intangibles, because with this, you can always create more tangibles.
You can see how well The Three-Circle Model illustrates the complexity of relationships that are all intertwined. Tell me, in each circle if that system is trying to work through a problem and is looking for potential solutions… who should be in the room, who gets a voice, and who gets a vote?
Our role as a Family Enterprise Advisor (FEA) is to help you understand, navigate and embrace the three systems operating within your Family Enterprise.
Below is a breakdown of some of the services we provide in this area with our professional partners. These are the most common services, but we do have a deep and wide resource pool to draw on depending on our clients needs. If you’re looking for a specific service for your family business, please let us know.
Succession & Transition Planning
There are many ways for you to transition your business to the next leader. Whether it is the next generation of family, sale to third party, employees, or perhaps you are maintaining ownership but stepping back from the day to day, we help you get ahead by beginning that process early in order to maximize your business sale, or help you develop a leader who’s going to elevate your business for generations to come.
How does your family communicate within itself and with the business, and ownership? We work with the family to educate and create implementable processes that help everyone feel heard, valued and on the same page when it comes to the family’s values and direction they are going.
This is sometimes viewed as “soft stuff that doesn’t really matter”. Reality shows us over and over that if this is neglected it leads to stress, strain and often breakdown of the Family Enterprise. When it is embraced, the Family and their Enterprise strengthens and flourishes.
We work with families to ensure there is a process for the next generation of leaders to be groomed, educated and mentored.
Wealth Management Mentorship
We guide and educate clients on all aspects of their family’s wealth, not just financial. There is financial, intellectual, social and human capital that all family enterprises have, and they need to recognize them and harness them to fulfill the family’s purpose.
Strategic Business Plan
We document and map out where you are now and where you want to be with your Family Enterprise. We will have the right facilitator(s) involved to help guide you through a process of articulating the future path and what focused actions will lead you there.
This annual general meeting is where we review the Family Enterprise and where it is in comparison to expectations. We review what has been accomplished, what is in progress and what has yet to be started or reviewed.