No Match Found
Generational stability and transition is the highest risk for family continuity and creating a legacy family. Globally, it’s accepted that more than 70% of wealth transitions fail, and the two major reasons for failure are:
Moreover, family continuity and good governance must be built upon a strong foundation, which will provide comfort that the governance practices are meaningful and given the best chance of success.
In the absence of a strong foundation, a weak foundation will most likely provoke predictable problems when it comes to implementing recommended governance procedures.
Our sole focus is to facilitate a proven methodology to improve the health and harmony of families through engaging with all members of the family as the foundation of what is important for family business success. We do this by connecting family and business, by asking the difficult and personal questions others won’t, and through building in good governance to ensure the protection and preservation of the family legacy.
*Cisco Wealth Management Survey, December 2012
While our approach is structured to meet the individual and collective needs of the families we work with, it can be broadly outlined as follows:
Creating the opportunity for everyone to have a voice through facilitated conversations, and other methods as required, with a view to understanding the particular unique needs of each situation. Based on this understanding we then recommend how best to utilise our professional services.
With acceptance of our recommendation, we schedule meetings with definitive agendas to work through the key matters that have been identified.
We use a values-driven, practical approach to navigate the challenges and opportunities that families face in a way that strengthens family relationships.
Our work through this stage may involve:
A significant part of our work is the independent facilitation of ongoing family meetings scheduled on a regular basis, from monthly through to annually as required. These family meetings allow the family to focus on areas of difference or the feelings that surround them, with the purpose of coming to deeper agreement on establishing procedures for sharing information and reaching decisions on key issues.
The outcome of which is to protect and preserve the family legacy for future generations through:
Simon Le Maistre
PwC | Private | Partner - Tax, PwC Australia
Tel: +61 3 8603 2272
PwC | Private | Partner, PwC Australia
Tel: +61 402 487 522
PwC | Private | Partner - Family Office, PwC Australia
Tel: +61 (2) 8266 9037