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Family Wealth

The rise of the family office, single and multi-, in the evolutions of the family enterprise field; suggestion on how to structure, use as an alternative to selling the company, vehicle for clarifying family values.

Despite the potential for next gen donors to become the most significant philanthropists and drivers of family enterprise to date, still little is actually known about the values and tendencies of this vital demographic.

This article explores the potential risks and rewards and provides suggestions for family business and their advisors who decide to engage in the practice.

This week, Katherina Rosqueta, from the Center for High Impact Philanthropy at the University of Pennsylvania, explores several approaches to impact investing, an increasingly utilized strategy to align deeply held family values with their financial investment strategy.

Philanthropy is not just a “good” thing to engage in. It is also one of the most effective tools for bridging generational differences in families.

François de Visscher (FdV): Why is it more attractive to be a direct investor as opposed to investing in private equity funds? Paul Carbone (PC): Well, I think there are several reasons.

Family offices have been following wealth. Historically, in Europe, private banking addressed most family issues. In the US, that concept followed the Titanic and did not cross the Atlantic that well.

Most businesses are cash guzzlers. They have liquidity cycles which usually define the remuneration structure — the way a family spends and lives its life.

The second issue in the November series on the theme of transformation in family enterprise focuses on philanthropy. Go here for “How Should the Family Business Community Respond to the Challenge of Economic Inequality?” by Michael Carney and Robert Nason.

In many segments of society there is growing pessimism about established business leaders’ ability to generate a sustainable and shared prosperity.

The Human Comedy Sometimes, you set out to “transform” others and end up demonstrating how obtuse you actually are: “How can I have been so blind?”.

Chinese business families are facing generational transitions, often subject to the curse of “wealth does not go beyond three generations.” In many of these entrepreneurial families, the business itself is a means to keep the entire family together.

Thanks to Iñigo Susaeta, general director of Arcano Family Office for his thoughts on the evolution of the family office in the Ibero-America region and how a movement toward more holistic models is emerging.

Iberoamerica ha sido en los últimos años una de las regiones de mayor crecimiento a nivel mundial gracias, entre otros factores, al buen hacer de sus empresarios y sus empresas.

In this paper, the authors present a review of literature about family enterprises and their approach to and practice of philanthropy.

Not many choose to be a professor, tax partner or an entrepreneur in their school essays querying aspirations.

Following on ten other articles on philanthropy this year, The Practitioner is pleased to present “Celebrating and Inspiring Philanthropy around the World” by Lenka Setkova.

In this week’s issue Maya Prabhu, who is managing director of the Coutts Institute, Coutts & Co. in London and also runs the Coutts Forums for Philanthropy, interviews Peter Buffett about his unique upbringing.

We continue our series of Research Applied with summaries and practical applications of two articles on philanthropy from the September Special Issue of FBR: Social Issues in the Family Enterprise Does Family Involvement Make Firms Donate More?

In many countries where we work with family enterprises, there is a long history of family philanthropy and its legacy is significant. Giving as a family can be especially rewarding.

The third feature this week is an audio interview with Adi Divgi on the topic of “collaborative procurement.” Adi is the president of EA Global – a single family office created in 2005. Interviewed by Practitioner editorial committee member, Kirby Rosplock.