KEEPING TODAY'S FAMILIES INFORMED AND INSPIRED
Our goal is to keep you inspired, informed, and connected to the leading voices and current thinking in the industry.
The 5 As of Effective Family Learning
All the research is clear: Family Learning is critical to sustaining wealth over generations. In fact, 85% of failures related to successful wealth transfer are caused by inadequate family communication and preparation of heirs. Watch this video from Pitcairn’s Gen7 Project™ about how to overcome barriers by practicing the 5 As of Effective Family Learning.
Best Practices for Family Governance
Family governance is a simple concept with complex challenges and implications for multi-generational families. This article gives established governance best practices for families, as well as conversation starters family members can use to explore their governance needs and priorities.
Family governance is a broad concept that takes on slightly different meanings depending on specific family needs and dynamics. Yet at its most fundamental, it is a straightforward concept. Family governance is defined as an evolving mechanism to help families make decisions.
What decisions are made, who gets a voice, and how those decisions are debated and executed all make up the subtle nuances of family governance. It’s a critical undertaking for family harmony and long-term success. What’s more, the path toward effective family governance is rarely a straight line. Good family decision making evolves over time. It ebbs and flows as families grow, priorities shift, and dynamics change.
Governance acts as an essential guard against family vulnerabilities brought out by those shifting dynamics. Families without an adequate governance structure risk letting decisions be driven by personal conflicts or short-sighted thinking. Governance gives families an articulated approach to processing change, airing grievances, and agreeing on what to do next.
5 Questions to Consider to Drive Better Outcomes
Resolving the Rising Generation Paradox
As featured in Family Business Magazine on July 15, 2020
In this published piece by Chief Knowledge & Learning Officer Amy Hart Clyne, readers will learn ways to reduce the tension between NextGens’ desire to make a positive impact in society and their loyalty to their family’s wealth legacy.
With a proactive approach where members of different generations recognize their differences and find common ground, conversations around social good and family legacy can be a net-positive for families.