Selling a business is a significant milestone for any business owner, regardless of their reason for selling. While the prospect of a successful sale is exciting, it’s essential to recognize and prepare for the potential challenges that may emerge during the process. From valuation disputes and due diligence issues to market fluctuations and regulatory changes, obstacles can complicate or derail
For ultra-high-net-worth (UHNW) families aiming to develop responsible leadership in the next generation, raising heirs with a sense of purpose rather than entitlement or family expectations is critical. Instead of simply passing down wealth and influence without guidance, you can intentionally use philanthropy to set the tone for future generations’ involvement in stewardship. This intentionality allows your rising generation to
Ultra-high-net-worth (UHNW) families are characterized by complex intergenerational dynamics and a wide range of perspectives. Appreciating these differences and adapting educational approaches accordingly is essential for stewards seeking to transfer generational wisdom effectively. Through personalized learning, families can cultivate engagement, understanding, and ownership of wealth management principles, which prepares rising generations to eventually take over ownership and guide the family
As multi-generational family enterprises evolve, they inevitably reach what’s known as the “cousin stage.” This phase describes when siblings, cousins, and their spouses suddenly take on ownership stakes, and more heirs naturally participate. Typically, this is in the third generation. Preserving unity and continuity gets tested as more relatives with divergent interests become involved. As someone who stewards a multigenerational
Who will lead your family’s legacy into the future is an important question ultra-high-net-worth (UHNW) families must carefully consider when looking at the rising generation. For aging stewards, the responsibility of preparing successors who embody the family values rests heavily. This question takes on additional dimensions when considering female successors. Guiding multi-generational families, we have seen firsthand how purposeful planning,
In pursuit of success, it’s common for business owners to feel a strong sense of responsibility for the prosperity and well-being of their ventures. A role you hold with pride. Sometimes, even as you wear this role with pride, it can come with a personal burden, particularly when it impacts your quality time with your family and friends. When you’re
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