The Family Wealth Sustainability Toolkit (eBook)

The Manual

Fredda Herz Brown, Fran Lotery (Autoren)

eBook Download: EPUB

2012 | 1. Auflage
128 Seiten
John Wiley & Sons (Verlag)
978-1-118-41698-3 (ISBN)

Infos

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 WealthSustainability 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 WealthSustainability Index carefully explains exactly how affluentfamilies and their financial advisors can best utilize and preparetheir wealth now and for generations to come.

Autor

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 inCalifornia. 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 FamilyEnterprise 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."

Inhalt

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: HelpingFamilies 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

Produkt-Details

• Reihe/Serie: Wiley Finance Editions
• Vorwort: Charlotte B. Beyer
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Schlagworte: Finance & Investments • Finanz- u. Anlagewesen • Finanzwesen
• ISBN-10: 1-118-41698-8 / 1118416988
• ISBN-13: 978-1-118-41698-3 / 9781118416983