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Private Banker International
Private Banker International
“Strategy for the Wealthy Family expands the field of wealth planning and management by exploring beyond just financial concerns to consider critical human issues such as philanthropy and family leadership.”
Professor Randel S. Carlock, Ph.D., INSEAD Business School
Berghmans Lhoist Chaired Professor in Entrepreneurial Leadership
Director, Wendel International Centre for Family Enterprise
“The first book I have ever seen which fully addresses the all-important human side of the wealthy family as well as the financial aspects of family wealth management…an important book for any family, no matter how much wealth they have.”
“Strategy for the Wealthy Family is a brilliant source of insight and information covering all aspects of family wealth management. This book is a perfect companion for private bankers, wealth managers, and wealthy families.”
Family Office Trust
“…a complete work of art for the wealthy.”
Aquarius Investment Advisors
Mastering the Challenge of Family Wealth: Seven Principles of Strategy for the Wealthy Family.
PRINCIPLE 1: A FRAMEWORK FOR FAMILY STRATEGY.
1. The Elements of Strategy.
2. Defining True Family Wealth.
3. Categories of Financial Wealth and their Implications.
4. Evolution Across Generations.
5. Process and Content of Family Strategy.
PRINCIPLE 2: FAMILY ORGANISATION AND LEADERSHIP.
6. Family Identity, Vision and Values.
7. Organization, Governance and the Family Constitution.
8. "Heir Conditioning": Preparing the Next Generation.
9. The Family "Eco-System".
10. The Family Office.
11. Family Leadership and Engagement.
PRINCIPLE 3: FAMILY WEALTH PRESERVATION.
12. The Lessons of Risk and History.
13. Financial Discipline and Distribution Patterns.
14. Tax Management and Asset Structuring.
15. Establishing and Managing a Trust System.
16. Estate Planning and Ethical Will.
17. Risks To Family Wealth and Well-being.
PRINCIPLE 4: FAMILY WEALTH MANAGEMENT.
18. The Investment Process.
19. Investment Profile and Investment Objectives.
20. Understanding Asset Classes.
21. Strategic Asset Allocation.
22. Performance Reporting, Portfolio Risk and Cost Control.
23. Private Banks, MFO's and Elite Family Investment Managers.
PRINCIPLE 5: THE FAMILY BUSINESS.
24. The Importance and Performance of Family Businesses.
25. Family Issues in Business Strategy.
26. Strategic Success for a Family Business.
27. Managing the Family in a Family Business.
28. Family Business Role in Family Wealth Management.
PRINCIPLE 6: EFFECTIVE PHILANTHROPY.
29. The History of Generosity.
30. New Philosophy and Practices of Philanthropy.
31. Practicalities and Benefits of Family Giving.
PRINCIPLE 7: LIVING A TRULY WEALTHY LIFE.
32. Mastering the Individual Challenges of Family Wealth.
PRINCIPLES IN ACTION: PRACTICAL EXAMPLES OF STRATEGY DOCUMENTS FOR THE WEALTHY FAMILY.
Example 1a: Family Strategy Document for a Category I (US$5 million) Family.
Example 1b: Family Strategy Document (Full Version) for a Category III (US$500 million) Family.
Example 2: Family Constitution.
Example 3: Trust Deed and Letter of Wishes.
Example 4: Investment Policy Statement.
Example 5: Family Business Strategy: Executive Summary.
Example 6: Philanthropic Foundation Document.
Example 7: Ethical Will.