A family office is generally designed to prepare family members to manage, sustain, and grow their wealth across multiple generations. While many of us have our own definition of what we consider to be wealthy, the industry views individuals with a minimum of $ 1 million as a high-net-worth individual.
In this week’s blog, I interview Declan Winston Ramsaran, Managing Director at PANGEA Private Family Offices based in Toronto, Canada. Declan talks to us about wealth management for multigenerational families.
In this week’s blog post, I discuss generational legacy, and what this entails for both the senior generation and the next generation.
In this week’s blog post, I discuss the evolution of the family bank, and the role of the family office in family banks.
In this week’s blog post, I discuss the role of the family bank, and four keys to successful implementation of this entity.
The desire for progeny of wealth families to develop an appreciation for financial independence is often top of mind for the family office. Especially families seeking to preserve their wealth for generations yet to be born appreciate the need for all of their members to be thoroughly educated and prepared for the responsibilities of family wealth. Without this preparation, families may not be adequately prepared to make shared decisions as owners. Family Office Exchange (FOX) has found that wealth education activities can help increase the odds of producing next generation family entrepreneurs; Through cultivate the knowledge, commitment and unity among family members, fostering a sense of engagement and ownership, maintaining family wealth while encouraging their philanthropic endeavors, and grooming the next generation to successfully take responsibility for their wealth, the question of sustaining the family wealth may not be as feared.
In this week’s blog, I interview Iris Wagner, CEO, Founder and Executive Producer of Memoirs Productions – a production company specializing in recording ethical wills, and personal and corporate video biographies for families, foundations, institutions and corporations throughout North America. Iris talks to us about ethical wills and the importance of preserving heritage and legacy.
In this week’s blog post, I discuss developing the next generation of wealth inheritors, and what parents can do to help their children become good stewards of wealth.
In this week’s blog, I interview Jennifer Muntz, CEO of FamilyCLO - a consulting firm that specializes in family education, next generation training and facilitation of family meetings. Preparing all family members for the responsibilities of a family business or family wealth is top of the mind in the wealth management space. Below are some of Jennifer’s insights on navigating this complex terrain.