In most businesses, the Board Chair’s role is seen as relatively straightforward: to ensure the Board and its governance committees function properly. However, in family enterprises, this role is far more complex, with responsibilities that go significantly beyond these traditional expectations.
Envisioning the family enterprise as a tree allows us to better understand the practical hierarchy at play: the roots represent the foundational family dynamics, the strong trunk embodies the ownership structure, and the expansive canopy symbolizes the diverse business ventures. This visual framework brings new clarity to the dynamic interplay of roles, responsibilities, and priorities across all facets of the family’s enterprise.
Jeremy Cheng explains in an article published by Bloomberg magazine why the Lui family, an enterprising family in Hong Kong did a good thing in laying down a plan for succession before the patriarch’s death.
In this article originally published in FFI Practitioner, our Advisor Jeremy Cheng explores the dynamic nature of legacy within family enterprises and the critical role of governance in its evolution. He emphasizes that legacy is not a static inheritance but a co-constructed entity shaped by interactions between legacy “senders” (e.g., founders) and “receivers” (e.g., successors).
In light of the many crises that haunt the daily news cycle, there is one segment of the corporate landscape that seems to be weathering the storm better than most: family businesses.
Tools for the next generation to approach the retirement conversation tactfully with patience, strategy and smarts.
Many families have decided to formalize a Family Office to serve the financial and professional needs of family members.
As a result of our expertise, we are able to assist families across the spectrum of needs.
Successful family enterprise leaders must tend both to the needs of the business and the family
This article presents a systematic review of the literature on the subject of family philanthropy.
Phone
Address
163 Cedar Street, Suite 2B Branford, CT 06405 United States
