Uniting the family
Family governance helps family wealth survive successive generations, by providing a coherent plan for sustaining family unity as well as prosperity. Without such a framework, wealth is likely to dissipate through family disputes or poor investment decisions.
Family governance may include wealth management, next-generation involvement and business succession. It provides a way of sharing common values at the heart of the family’s success and laying down guidelines for overcoming conflicts of interest.
Involving each generation
Our family governance teams work with families across the generations. We explore continuity planning, conflict management and succession planning through a range of meetings and workshops, enabling you to find the best practical solution.
We also help with implementation. For example, we can work with you to develop a governance structure, as well as agreeing and establishing protocols.
Setting out the ground rules
Whatever your challenges and aspirations, there are common governance issues you’ll need to address:
- Control and decision making over the longer term
- Business succession
- The role of family and non-family members in the business
- Philanthropic goals
- The succession of the family’s core values
Family governance protocols are an effective way to manage many of the issues, including conflict mediation and resolution, entitlement to shares in the family business, board representation, family employment policies, valuation methods and exit options.
If you already have ownership structures and governance processes in place, and even if these have sustained your family for generations, you’ll still need to maintain and adapt your governance to secure ongoing growth under changing circumstances.
A holistic approach
Our approach brings together family governance, wealth and succession planning, and philanthropy services, enabling you to address different aspects of family wealth in a comprehensive way. There are many benefits to this. For example, philanthropy can bring the wider family together by affirming shared aspirations and values.