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Family Wealth Continuity Putting It All Together

Family Wealth Continuity : Putting It All Together [Recently, I was on my way out of a family wealth conference focused on next-generation leadership when several fellow attendees, rising leaders in their family offices, approached me in the hotel lobby. “I have a question,” one of the women said. “At one of the events you mentioned that many continuity plans ultimately fail. What are the most common dysfunctions that lead to those failures?” It was a good question, of course, one that speaks directly to the central message of this book; moreover, it gave me an opportunity to point out something important to the soon-to-be leaders. “Well,” I said, “I prefer not think about it in terms of ‘dysfunctionality’ or ‘abnormality.’ After all, based on the few statistics we have the majority of continuity plans don’t work out as their developers would hope. So we can think about those families who succeed at preserving wealth and family relationships for multiple generations as the abnormal ones! Maybe it would be better for us to be thinking about what underlies the success of those families.” That led to a lively discussion about what each of them saw as their families’ strengths and successes.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Family Wealth Continuity Putting It All Together

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Publisher
Palgrave Macmillan US
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016
ISBN
978-1-137-57638-5
Pages
143 –153
DOI
10.1057/978-1-137-57639-2_7
Publisher site
See Chapter on Publisher Site

Abstract

[Recently, I was on my way out of a family wealth conference focused on next-generation leadership when several fellow attendees, rising leaders in their family offices, approached me in the hotel lobby. “I have a question,” one of the women said. “At one of the events you mentioned that many continuity plans ultimately fail. What are the most common dysfunctions that lead to those failures?” It was a good question, of course, one that speaks directly to the central message of this book; moreover, it gave me an opportunity to point out something important to the soon-to-be leaders. “Well,” I said, “I prefer not think about it in terms of ‘dysfunctionality’ or ‘abnormality.’ After all, based on the few statistics we have the majority of continuity plans don’t work out as their developers would hope. So we can think about those families who succeed at preserving wealth and family relationships for multiple generations as the abnormal ones! Maybe it would be better for us to be thinking about what underlies the success of those families.” That led to a lively discussion about what each of them saw as their families’ strengths and successes.]

Published: Jun 22, 2016

Keywords: Building Block; Family Business; Personal Development; Diffi Cult; Learn Capacity

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