How a family interacts following an inter-generational transfer of wealth will be critical for its long-term growth and survival. Families?face many new challenges, driven by rapid changes in a globally competitive environment and the spread of family members across the?world, each pursuing their own goals and ambitions. Cooperation between family members through an agreed framework reduces?the?risk of fragmentation.??
Maintaining this cohesion requires investment in governance – deciding the core values to be adhered to, the key principles which?should underpin future strategy, and creating a decision-making structure that's agile and proactive, yet allows all family members a?voice. It's especially important to establish how best to involve the next generation.??
Our experienced specialists can help you:??
- Decide what core values and principles are driving the purpose of your wealth??
- Draft a family charter or constitution in conjunction with family members and advisers??
- Ensure principles are embedded within the decision-making frameworks of ownership and succession-planning structures??
- Create mechanisms to include all family members in the enterprise??
- Implement an ongoing monitoring?programme.