Ownership Project 2.0: Private Capital Owners & Impact’s Post

Looking forward to speaking at the MoneyShow Investment Masters Symposium where I will be discussing the current state of Family Offices in my Keynote and covering the following trends: 1. Single Family Offices are increasingly transitioning to Multi-Family Offices (MFOs) to leverage shared resources and expertise. 2. Many Family Offices are reducing their direct investment allocations in favor of more diversified investment strategies. 3. Private credit is becoming a more prominent asset class for Family Offices due to its potential for higher yields and diversification benefits. 4. GP-led secondaries and continuation funds are rising in popularity among Family Offices as they offer liquidity solutions and portfolio management flexibility. 5. Alot of the dry powder that Family Offices are sitting on will be invested in real estate deals that need to be refinanced. 6. Private Placement Life Insurance (PPLI) is gaining traction as a strategic tool for tax-efficient wealth management and asset protection in Family Offices. 7. Philanthropic efforts by Family Offices are becoming more structured and business-like, aiming for strategic impact and sustainability. 8. Governance is receiving increased attention from Family Offices to ensure robust compliance, risk management, and succession planning. 9. The focus on engaging and preparing the Next Generation is intensifying, especially given the significant wealth transfer anticipated, totaling $84.4 trillion. 10. The launch of a groundbreaking Family Office Initiative in collaboration with a top global university, marking a significant development in holistic family wealth management. Are there any other emerging trends or nuances in the Family Office space that you think I should touch on? See you there! #FamilyOffice #SiliconValley #Keynote

Well said Tony. I would only add that families that have divested the family enterprise or generated their wealth from other endeavours, also face many of the same challenges in terms of planning for next generation succession and legacy. In many instances a formalised planning process and charter creation can be even more meaningful for a family that has not had the benefit of the "glue" or commonality of purpose and values that a business provides. #providence #legacy #successionplanning #wealthmanagement #impact #families #familycharter

At the Families Summit of Minds by Family Enterprise Canada, speakers Drew M. Ratcliffe (Arpeg Group of Companies), Wendy Sage-Hayward (The Family Business Consulting Group), Matt Knight (Alberta Business Family Institute at the University of Alberta), and Owen Matthews (Alacrity Canada) shared tips on tackling global market shifts, tech advancements, and climate challenges, all while managing family dynamics and succession. Their advice offers practical strategies for family businesses navigating an unpredictable future. Read the full article below:

Family Businesses: A Model of Resilience and Values In a world where public corporations face mounting challenges, it's time to take a closer look at the remarkable resilience and values-driven approach of family businesses. Dennis Jaffe's insightful article sheds light on why family businesses succeed where others struggle. 🤝 Personal Bonds and Values: Family businesses thrive on personal relationships among owners, creating deep emotional ties and shared values that go beyond financial gain. This fosters a culture of trust, purpose, and impact, which extends not only to employees but also to the broader community. 🤗 Extended Family: In these businesses, employees become part of an extended family, recruited based on shared values. Transparency, collaboration, and a commitment to fair profit sharing build a strong foundation of trust, even in challenging times like COVID. 🔮 Long-Term Perspective: Family businesses prioritize the future, driven by the desire to pass their legacy to the next generation. They reinvest profits, make sacrifices, and plan for the long haul, maintaining continuity and resilience. 🧠 Education and Succession: Future generations are groomed from birth, encouraged to gain external experience, and prepare to lead responsibly. This ensures the business's values and purpose are carried forward. 📚 Learn from Family Businesses: Public corporations can draw valuable lessons from family businesses. Define and live by your values, create structures for continuity, and focus on the future as much as the present. Adaptation and change are key to survival. 🤝 At Greenwich, we understand the unique dynamics of family businesses and can help you apply these lessons to your corporate strategy. #FamilyBusiness #Resilience #CorporateValues #GreenwichConsulting

Evolving Family Enterprises: Navigating Growth, Succession, and Impact In the ever-evolving landscape of family enterprises, the intersection of increasing family size and wealth diversification demands a strategic approach to governance. As families expand, it becomes crucial to define common values and establish structures that encompass ownership roles and accountabilities. This often materializes through the creation of a Family Charter, a dynamic document that lays the foundation for sustainable growth. The transition from founding generation to the next is a pivotal phase. Meaningful involvement of the next generation, both within and outside the family business, is paramount for continuity. Simultaneously, founding members must contemplate transitioning from operational leadership to roles as mentors or board advisors. This seamless transfer of responsibilities ensures a harmonious blend of experience and fresh perspectives. The emergence of blended families and new structures necessitates inclusive rules governing ownership, participation, and engagement. Policies addressing conflict resolution and differences within the family are vital to prevent personal dynamics from impacting crucial business decisions. Embracing the next generation is not just a strategic move but a key driver for continued adaptation and growth. Investments in education, mentorship, and diverse life experiences empower the next generation to play impactful roles within the family enterprise. Succession planning, whether led by a cohort of internal leaders or external executives, defines the future trajectory of the family enterprise. The next generation seeks clarity on what the family enterprise offers and how they can actively engage in its evolution. Beyond business, a family's understanding of the purpose of their wealth extends into social responsibility. Investing not only in the family enterprise but also dedicating time and resources for philanthropic causes aligns with a broader vision. Commitment to each other and allocated resources in pursuit of this agenda strengthens family bonds, includes staff, and fosters connections within the wider community. In this era of transformation, family enterprises must embrace adaptability, empower the next generation, and commit to a shared purpose that extends beyond business – ensuring a legacy that resonates far beyond the confines of wealth and success.  #FamilyEnterprise #SuccessionPlanning #LegacyBuilding #SharedValues #NextGenLeadership

Family Businesses: A Model of Resilience and Values In a world where public corporations face mounting challenges, it's time to take a closer look at the remarkable resilience and values-driven approach of family businesses. Dennis Jaffe's insightful article sheds light on why family businesses succeed where others struggle. 🤝 Personal Bonds and Values: Family businesses thrive on personal relationships among owners, creating deep emotional ties and shared values that go beyond financial gain. This fosters a culture of trust, purpose, and impact, which extends not only to employees but also to the broader community. 🤗 Extended Family: In these businesses, employees become part of an extended family, recruited based on shared values. Transparency, collaboration, and a commitment to fair profit sharing build a strong foundation of trust, even in challenging times like COVID. 🔮 Long-Term Perspective: Family businesses prioritize the future, driven by the desire to pass their legacy to the next generation. They reinvest profits, make sacrifices, and plan for the long haul, maintaining continuity and resilience. 🧠 Education and Succession: Future generations are groomed from birth, encouraged to gain external experience, and prepare to lead responsibly. This ensures the business's values and purpose are carried forward. 📚 Learn from Family Businesses: Public corporations can draw valuable lessons from family businesses. Define and live by your values, create structures for continuity, and focus on the future as much as the present. Adaptation and change are key to survival. 🤝 At Greenwich, we understand the unique dynamics of family businesses and can help you apply these lessons to your corporate strategy. #FamilyBusiness #Resilience #CorporateValues #GreenwichConsulting

Over the last 3-5 years there has been an increased willingness for founders or current leaders of family businesses to consider their succession and set up the next generation for success. The driver for this mindset change is sometimes forced (by say illness or incapacity) but from what we have observed at Deloitte Private many founders are looking to avoid the now well publicised mistakes of family business succession and take deliberate steps to ensure that their family business does not become another statistic. It will clearly take some time for the impacts of these more progressive founders to permeate through and we will reveal some of these new trends in some Family Office reports which we will release in CY24. In the meantime taking some time out to think through how to more seemlessly transition between generations will help - This article offers three simple steps – establish a formal plan, involve the next generation, and bring in the views from a variety of stakeholders to ensure continuity. The one thing our globally experienced family enterprise teams are acutely aware of is that every family is different and in turn this means the approach to working through their opportunities and challenges needs to be tailored in order to get the best outcomes. #familybusiness #successionplanning #nextgenleadership

Delighted to be moderating a panel at Prestel & Partner's Family Office Forum, on Thursday the 9th of November, with family offices and next gen's on defining their sustainable investment strategy. 𝐓𝐡𝐫𝐞𝐞 𝐫𝐞𝐚𝐬𝐨𝐧𝐬 𝐰𝐡𝐲 𝐅𝐚𝐦𝐢𝐥𝐲 𝐨𝐟𝐟𝐢𝐜𝐞𝐬 𝐚𝐫𝐞 𝐜𝐫𝐮𝐜𝐢𝐚𝐥 𝐢𝐧 𝐚𝐜𝐡𝐢𝐞𝐯𝐢𝐧𝐠 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐨𝐮𝐭𝐜𝐨𝐦𝐞𝐬 1. They have access to a much wider opportunity set of impactful investments than retail and affluent clients. From angel investments to deploying large sums of capital into private equity, venture capital, private debt and hopefully coming soon blended finance instruments. 2. Many family offices have advanced philanthropy strategies and tools for measuring the effectiveness of their efforts. Impact investing is a natural extension of these activities and many family offices can offer concessional return capital and use the spectrum between finance first and grant giving to achieve sustainable outcomes. 3. Unlike many other institutions whose fiduciary duty is to their beneficiaries, family offices can often be more flexible - once future generations of the family are secured - often the question of legacy and values as well as the mark these families and individuals want to leave on the world is the next question on the table. Excited to hear the panellist thoughts on these crucial topics and many thanks to James Ross Clark for the invitation.

Do you want to find out more about our new guide Family Offices: A roadmap to impact? Watch the 90 seconds explainer video below.   Families are uniquely placed to act at pace on the societal issues nearly all of us care about. And where family offices lead, others can follow — the $10 trillion of family wealth showcasing new paths to impact for the over $90 trillion of institutional capital available globally.    We are focused on action and practical solutions that can support capital markets in accelerating the change needed in today's world.    In that spirit, our new guide provides information and showcases examples that illustrate how to advocate for impact with other family members, develop effective strategies and frameworks for change, translate those into action, and ultimately allocate more capital for the benefit of people and the planet.    The guide provides a practical roadmap for first-generation wealth creators, multi-generational family offices, and their advisors. It is also accompanied by in-depth case studies, based on one-on-one interviews with both family office principals and investment professionals working for them. Watch the video here: https://bit.ly/3SL0f3t #impactinvesting #familyoffices #wealth #resources

#Familyoffices play a critical role in the sustained success of family legacies by enabling #familybusinesses to create large impacts with specialized investment strategies based on the requirements of the family. New family members, however, may forget or not understand the need to retain assets in the family office as the family starts to #scale. Learn what our founder, Christina Wing had to say about achieving joint goals with power from an investing perspective and lower costs, in this recent Family Business Magazine article.