FAMILY GOVERNANCE

 

"Our system for developing high-net-worth and high self-worth for each family member, for generations to come. Or said another (simpler) way, a "family governance" structure is simply how a family stays aligned about money, decisions, and values once wealth is no longer the limiting factor."

- Jason Howell, President | Family Wealth Adviser

 

 "Wealth has a history of its own," is how our founder's book, JOY of Financial Planning begins. For the vast majority of our clients, they are writing that history as the first in their family to have accumulated multi-generational wealth. We acknowledge the challenges new wealth brings: isolation, guilt and sometimes fear. 

No amount of wealth arrives without a cost.

Without a roadmap to answer what to do and who to partner you are left alone in the overwhelm of decisions. Our financial planning process helps with the nuts and bolts of cash, debt, investment and risk management. We team up with strategic partners for tax and estate planning. We incorporate your goals and concerns and you team's recommendations into a family governance structure that takes into account wealth preservation as well as family preservation. 

What does that look like? 

To help our clients manage their family dynamics, including the financial expectations, we incorporate a multi-step process where together we:

  1. Interview family members beginning with the principals to tell your family story
  2. Identify your current financial habits and lifestyle
  3. Uncover your personal and financial aspirations
  4. Draft a "family mission statement" and highlight your family values
  5. Draft a "family narrative" and "family constitution"  
  6. Getting the family together (as needed) to discuss your "by-laws" of money

And within this process we build an ongoing system - as formal or informal as appropriate - to reinforce your family standards and values alongside your wealth.