Wealth and Family Dynamics
Communication, Collaboration Within and Across Generations
Money and wealth are among the most intimate of subjects for families, providing fertile ground for confusion, disagreement, and sometimes conflict. By enhancing communication skills and learning to better understand patterns of relating, families grow their family intelligence quotient (or FQ, which is like EQ, but for families). This improves the family’s ability to stay connected and work together on their shared assets and/or wealth structure. We help families:
Prevent potential conflicts over finances by building communication skills and creating a shared language for talking about family dynamics.
Manage and defuse disagreements about family assets that have already developed by providing neutrality and safety for difficult conversations.
Focus on shared goals rather than grievances, so family members can create more common ground and build stronger relationships.
Consider and balance the needs of individuals with the needs of the collective.
ARTICLES
Parenting by focusing on happiness alone won’t address self-responsibility or self-esteem. Building the social, intellectual, emotional, and spiritual encourages children to mature from the inside out.
FQ: TAKING A SYSTEMS PERSPECTIVE TO BETTER UNDERSTAND YOUR FAMILY
FQ provides a framework to interpret relationship dynamics in order to enhance neutrality and gain perspective within the family and family enterprise.
PARENTING, PRIVILEGE AND CHALLENGING TOMORROW’S LEADERS
Successful business families can provide their children a sense of well-being and privilege, but in doing so, are they sheltering them from adversity, or denying them a golden opportunity to be challenged?
At the heart of healthy communication is the ability to navigate disagreements in a healthy and constructive way. Here we offer families who share assets a framework for communicating positively with others by "leading with heart."
Money is a charged issue which tends to become connected to the issues of power, control and love. Navigating the complex dynamic at the overlap of a family’s relationship and financial systems.
MONEY CONVERSATIONS WITH A FUTURE SPOUSE
The concept of money or wealth is a loaded topic, embodying not just dollar amounts but also beliefs around work, spending, giving, and saving. Approach these conversations by talking through a few important questions together.
The next generation of family owners often unexpectedly and without planning become partners. As “accidental” partners, they have unique risks and challenges to manage.
PREPARING THE NEXT GENERATION FOR OWNERSHIP IN A DYNAMIC WORLD
Developing a systemic approach to prepare the next generation for ownership and to manage the intersection of family relationships and the family economy.
SYSTEMS THINKING: A PRACTICAL LENS FOR UNDERSTANDING ENTERPRISING FAMILIES
Understanding the family as a coherent system and exploring how this can lead to greater understanding of a family’s dynamics.
Related Articles
CASE STUDIES
THE CHALLENGES OF NEWLY CREATED WEALTH
As a result of the sale of their third-generation business, several members of the family realized significant amounts of wealth for the first time.
EQUALITY VS. EQUITY IN THE FAMILY BUSINESS
A woman began a small environmental testing company, and after just a few years, revenues were $84 million. Her husband retired early from his firm to work full-time in her company. Immediately, they began to fight for control and management.