Details

The Family Wealth Sustainability Toolkit


The Family Wealth Sustainability Toolkit

The Manual
Wiley Finance 1. Aufl.

von: Fredda Herz Brown, Fran Lotery, Charlotte B. Beyer

85,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 04.09.2012
ISBN/EAN: 9781118416983
Sprache: englisch
Anzahl Seiten: 128

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

An interactive assessment tool and companion manual for wealthy families and their financial advisors that analyze the behaviors and knowledge that impact a family’s overall wealth, while also providing best practices needed for improvement The Family Wealth Sustainability Toolkit gives wealthy individuals, family offices, and the financial planners, advisors and wealth managers who counsel them, the tools they need to better assess their wealth sustainability skills. One part assessment software tool and one part companion book, the online Index allows readers to assess their family enterprise across four dimensions of sustainability, while the Manual acts both as a roadmap to analyzing their results and provides a foundation in best practices.  The index asks individual family members to assess how much the family, as a unit, utilizes best practices to help build structures, decision making processes, and leadership over generations. The manual shows readers how to reflect on what’s working in their family to build and maintain sustainable wealth and how to fix what isn’t. Throughout both components, the authors emphasize the importance of human, intellectual, and social capital, as well as financial capital, as drivers to sustainability over the long haul. The Family Wealth Sustainability Toolkit:   Helps affluent families and their advisors assess how well they are managing wealth now and for the future Evaluates wealth sustainability practices to help readers find out what’s working and what’s not Emphasizes the importance of human, intellectual, and social capital, as well as financial capital, in the quest for wealth sustainability  Comprehensive and highly practical, The Family Wealth Sustainability Index carefully explains exactly how affluent families and their financial advisors can best utilize and prepare their wealth now and for generations to come.
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: Helping Families 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 Roadmap 82 The Roadmap to Sustainability: Planning the Future 93 APPENDIX 1 Genogram Key 95 APPENDIX 2 The Samson Brothers Family Genograms 97 Index 99
Fredda Herz Brown is acclaimed by clients and professional colleagues alike for her groundbreaking work with enterprising families and their trusted advisors. From her numerous contributions over a quarter century, she has helped to establish standards of professional practice and develop the body of knowledge that defines the work of the field to this day. Fredda's distinguished career accomplishments have been honored by awards from the Family Office Exchange and the Family Firm Institute, where she is a Fellow and founding board member. She is the author of Reweaving the Family Tapestry, which encapsulated her model for understanding and working with families as they evolve through their life cycle. Among her numerous academic appointments over the years, she continues as a guest lecturer for the MBA students at Columbia University. Fran Lotery has more than thirty years' experience and knowledge in family economic and emotional systems gained from working with professional firms, family enterprises, owners of closely held companies, and large nonprofit institutions. Since 2006, as one of the principal founders of Relative Solutions, she has collaborated on research and tools that contribute to advances in developing human capital and leadership in family enterprises and understanding the dynamics associated with wealth and the multigenerational family. Fran has been an expert contributor on radio and television, a speaker at professional conferences, and an adjunct faculty member at leading colleges and universities in California. Relative Solutions is one of the leading firms helping multigenerational family enterprises manage the complex decisions related to their shared assets. Their frameworks, tools, and methodologies are considered to have established the gold standard for the professional practice of trusted advisors, and the development of families and their enterprises. The firm's Family Enterprise Leadership System (FELS) is the only leadership assessment framework of its kind, created exclusively for family enterprises. In 2011, they introduced with 21/64, two new tools to assist families to start conversations: the Family Quest Cards on "Exploring Wealth" and "Family Giving/Philanthropy."
The Family Wealth Sustainability Toolkit gives wealthy individuals, family offices, and the financial planners, advisors, and wealth managers who counsel them, the tools they need to better assess their wealth sustainability skills. One part assessment software tool and one part companion book, the online index allows readers to assess their family enterprise across four dimensions of sustainability, while the manual helps them analyze their results and provides a foundation in best practices. For more information regarding the assessment tool and to purchase additional access to the index, please visit www.wiley.com/go/familywealthsustainability. The index asks individual family members to assess how much the family, as a unit, utilizes best practices to help build structures, decision-making processes, and leadership over generations. The manual shows readers how to reflect on what's working in their family to build and maintain sustainable wealth and how to fix what isn't. Throughout both components, the authors emphasize the importance of human, intellectual, and social capital, as well as financial capital, as drivers to sustainability over the long haul. The Family Wealth Sustainability Toolkit: Helps affluent families and their advisors assess how well they are managing wealth now and for the future Evaluates wealth sustainability practices to help readers find out what's working and what's not Emphasizes the importance of human, intellectual, and social capital, as well as financial capital, in the quest for wealth sustainability Comprehensive and highly practical, The Family Wealth Sustainability Toolkit carefully explains exactly how affluent families and their financial advisors can best utilize and prepare their wealth now and for generations to come.
Praise for The Family Wealth Sustainability Toolkit "The Family Wealth Sustainability Toolkit is a valuable tool for families. In the manual, Herz Brown and Lotery provide insights and real-world examples around the distinct areas enterprising families may focus on to achieve sustainability. What is special about this work is that there is direct application; a family can not only read about suggested activities for sustainability but can complete the online assessment, which results in a road map to prioritize and engage in the practices most important to them. This a great guide for families engaged in the journey of sustaining family wealth for future generations." —Mel Lagomasino, CEO, GenSpring Family Offices "This book very much reflects the seasoned wisdom of its authors. Fredda Herz Brown and Fran Lotery are hands down among the most experienced practitioners in our field. Their framing of family enterprise continuity in terms of sustainability, and their deconstruction of the key ingredients that account for it, will undoubtedly advance both our collective understanding and our ability to assist families more effectively. The book is full of practical examples, case studies, and succinct advice that will be compelling and useful to many enterprising families." —Ivan Lansberg, PHD, Senior Partner, Lansberg, Gersick and Associates; Academic Director, Family Enterprise Programs, Kellogg School of Management "The way Fredda and Fran have distilled decades of wisdom and experience into a user-friendly manual and companion online tool is truly impressive. The four core dimensions of wealth sustainability are introduced in practical, actionable terms. Finally, families now have an interactive, modern way to communicate, map out, and assess their journey to wealth sustainability." —Kathryn M. McCarthy, Director, Rockefeller Trust Company, NA, and independent advisor to families and family offices "Fredda Herz Brown and Fran Lotery have been pioneers in the family governance space, and this book is evidence of their continued leadership. Together, the book and complimentary online tool raise important questions for multigenerational families to consider about legacy, values, and decision making; most importantly, how to maximize the inclusion of next-generation family members for the benefit of the family and the sustainability of their enterprises." —Sharna Goldseker, Managing Director, 21/64 "In this new work, Fredda Herz Brown and Fran Lotery give financially successfully families the road map for sustaining and enhancing their success, well beyond just their wealth. At once, they define the issues and provide useful and practical solutions that will have immediate impact on a family, as well as provide long-term sustainability. By combining their extensive experience and insights with clear examples and tools, the reader receives an abundance of ideas. What a significant contribution to enterprising families." —Ellen Miley Perry, founder, Wealthbridge Partners

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