Taking On The Risk Of Talking
In this age of communication it is concerning that families often do not communicate openly or consistently about issues related to a family’s wealth. While the reasons are understandable, many families do not even hold informal meetings. Furthermore, they do not have a template to assist them in discussions about values, their family story or finances.
One of the most important activities that any family can adopt is to have a regular process of family communication and family meetings. These will create the proper infrastructure and a fail-safe mechanism to assist the family during difficult times -which often involve conflict or crisis.
These topics were the subject matter of a recent intensive four day professional program attended by Paul Mascard, which was developed by the Canadian Association of Family Enterprise (CAFE). At the Facilitation Course, Paul was able to gain a thorough understanding of how to develop a step-by-step process empowering families to create and conduct family meetings. This entire process ultimately resolves issues that may relate to the family, family wealth and the family business.
At Northland Wealth Management we believe that focusing on a family’s authentic (intellectual, social and human) wealth is just as important as the ongoing management of their financial wealth. In conjunction, this allows families to effectively work against the “shirtsleeves-to-shirtsleeves in three generations” proverb which has plagued many wealthy families throughout history. Please do not hesitate to ask us how we can assist in developing your family meeting for you.