Policy Development
Clarifying critical elements of your family’s relationship to the enterprise — and to each other
The Challenge
Many family enterprises have invested heavily in agreements and governance documents but have yet to compile these various policies into a comprehensive “owners manual.” As a result, they don’t always have a comprehensive understanding of how the different aspects of their governance interact, or the terms by which family members can effectively engage. Nor do they have a sense of the key gaps that remain in the documentation of their governance design or continuity plans, leading to misunderstandings and conflicts that are easily avoidable.
Our Solution
LGA’s Policy Development services help you create a family constitution that aggregates and aligns all of your key legal and moral agreements, including:
- Policies for board participation (such as term limits, compensation, and relationships with management)
- Policies for ownership transfer and liquidity
- Policies for employment in the operating companies and career advancement
- Policies for conflict of interest
- Policies for philanthropic activities and opportunities
- Policies for family office services and oversight
How does it work?
Working with key leadership teams throughout the enterprise, LGA’s advisors support our client families with:
- Educating the family about the critical importance of policies as a key driver of family enterprise continuity
- Creating a family constitution or protocol that compiles all of your existing policies
- Facilitating discussions on revisions or the creation of additional policies to support the evolution of the family enterprise over time
- Collaborating with the family’s legal advisors to translate these policies into legal documents and align them with legal structures and jurisdictional constraints
- Educating the family on their rights and responsibilities — depending on their unique relationship to the enterprise
How does your family benefit?
You will emerge from LGA’s Policy Development advisory with the documentation needed to support your key stakeholders. You’ll have the tools you need to ensure that your key policies are well-understood and all aligned in support of your continuity.
Case Study
Case Study: Sustaining Engagement in a Cousins Consortium
Three third-generation Family Directors of a large enterprising family were attending a global conference focused on innovation and growth. Their 90-year old family had deep pride and gratitude for the success and leadership of previous generations. However, there were no family members currently working actively in the business, and the family’s only connection to their vast operations — which spanned eight industries and three continents — was limited to these three members of the Board.
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Featured advisors
Ashley Blanchard
Ashley works with philanthropic families to help them define a shared vision for their family’s philanthropy, and the structures and operations to realize that vision.
Ivan Lansberg
Ivan is a Founding Partner and consults with complex family businesses in the USA, Canada, Asia, Europe and Latin America.
Fernanda Jaramillo
Fernanda is a partner working primarily in Central and South America. Fernanda has extensive experience supporting families in transition.
Gustavo Carvajal
Gustavo is a partner who advises family enterprises throughout Latin America on complex corporate governance matters.
Catalina Arango
Catalina works with partners and senior associates of the firm supporting client families to ensure the continuity of the family businesses.
Holly Isdale
Holly Isdale is a trusted advisor to multi-generational families who appreciate her deep technical expertise and industry experience.
