An interactive assessment tool and companion manual forwealthy families and their financial advisors that analyze thebehaviors and knowledge that impact a family’s overallwealth, while also providing best practices needed forimprovement
The Family Wealth Sustainability Toolkit gives wealthyindividuals, family offices, and the financial planners, advisorsand wealth managers who counsel them, the tools they need to betterassess their wealth sustainability skills. One part assessmentsoftware tool and one part companion book, the online Indexallows readers to assess their family enterprise across fourdimensions of sustainability, while the Manual acts both asa roadmap to analyzing their results and provides a foundation inbest practices.
The index asks individual family members to assess how much thefamily, as a unit, utilizes best practices to helpbuild structures, decision making processes, and leadershipover generations. The manual shows readers how to reflect onwhat’s working in their family to build and maintainsustainable wealth and how to fix what isn’t. Throughout bothcomponents, the authors emphasize the importance of human, intellectual, and social capital, as well as financial capital, asdrivers to sustainability over the long haul. The Family Wealth Sustainability Toolkit:
* Helps affluent families and their advisors assess how well theyare managing wealth now and for the future
* Evaluates wealth sustainability practices to help readers findout what’s working and what’s not
* Emphasizes the importance of human, intellectual, and socialcapital, as well as financial capital, in the quest for wealthsustainability
Comprehensive and highly practical, The Family Wealth Sustainability Index carefully explains exactly how affluentfamilies and their financial advisors can best utilize and preparetheir wealth now and for generations to come.
Daftar Isi
Foreword vii
Preface ix
Acknowledgments xi
CHAPTER 1 Achieving Sustainability: The Challenges, Opportunities, and Complexities of Enterprising Families 1
The Business of the Enterprising Family 3
Moving Toward Sustainability 19
CHAPTER 2 Family Legacy and Connection 21
It’s about Family, More Than Financial Assets 22
Combining the Mindset of Shared Risk and Shared
Opportunity with a Family Emotional System 22
Family Connection: More Complex over Time 26
Family Connection Independent of Sharing Assets 30
CHAPTER 3 Governance Structures and Processes: Helping Families Achieve Goals 35
Family Mission: The Cornerstone of Governance 39
The Shape of Governance: A Thoughtful, Inclusive Process 42
CHAPTER 4 Financial Accountability and Management 49
The Individual’s Role in Oversight 50
Financial Responsibility across Generations 52
Long-Term Management of Finances and Risk 56
CHAPTER 5 Human Capital and Leadership Development 61
How Does Human Capital Develop? 62
Relationship-Based Competencies Are Most Valued 63
Human Capital: People at Their Best 69
CHAPTER 6 Roadmap to Sustainability 75
Designing Your Unique Roadmap 77
About the Family Wealth Sustainability Index 80
Results: Setting the Base Point for Creating the Family Roadmap82
The Roadmap to Sustainability: Planning the Future 93
APPENDIX 1 Genogram Key 95
APPENDIX 2 The Samson Brothers Family Genograms 97
Index 9
Tentang Penulis
Fredda Herz Brown is acclaimed by clients andprofessional colleagues alike for her groundbreaking work withenterprising families and their trusted advisors. From her numerouscontributions over a quarter century, she has helped to establishstandards of professional practice and develop the body ofknowledge that defines the work of the field to this day. Fredda’sdistinguished career accomplishments have been honored by awardsfrom the Family Office Exchange and the Family Firm Institute, where she is a Fellow and founding board member. She is the authorof Reweaving the Family Tapestry, which encapsulated hermodel for understanding and working with families as they evolvethrough their life cycle. Among her numerous academic appointmentsover the years, she continues as a guest lecturer for the MBAstudents at Columbia University.
Fran Lotery has more than thirty years’ experience andknowledge in family economic and emotional systems gained fromworking with professional firms, family enterprises, owners ofclosely held companies, and large nonprofit institutions. Since2006, as one of the principal founders of Relative Solutions, shehas collaborated on research and tools that contribute to advancesin developing human capital and leadership in family enterprisesand understanding the dynamics associated with wealth and themultigenerational family. Fran has been an expert contributor onradio and television, a speaker at professional conferences, and anadjunct faculty member at leading colleges and universities in California.
Relative Solutions is one of the leading firms helpingmultigenerational family enterprises manage the complex decisionsrelated to their shared assets. Their frameworks, tools, andmethodologies are considered to have established the gold standardfor the professional practice of trusted advisors, and thedevelopment of families and their enterprises. The firm’s Family Enterprise Leadership System (FELS) is the only leadershipassessment framework of its kind, created exclusively for familyenterprises. In 2011, they introduced with 21/64, two new tools toassist families to start conversations: the Family Quest Cards on’Exploring Wealth’ and ‘Family Giving/Philanthropy.’
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