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How to Create a Fair Family Business

How to Create a Fair Family Business

Creating an equitable workplace is a challenge many businesses face. For family-owned businesses, the challenge can be amplified. Hiring and promoting family members isn’t necessarily wrong, but when handled poorly it could create ill will with non-family employees.

Avoiding the Pitfalls of Succession Planning

Avoiding the Pitfalls of Succession Planning

Besides growing and sustaining a business, the biggest challenge entrepreneurs face is succession planning. Making a decision on succession is as daunting as it is necessary. The complexity is compounded when the business is family owned and the successors are likely to be the next generation.

How to Keep the Next Gen Engaged in the Family Business

How to Keep the Next Gen Engaged in the Family Business

In his book “Family Wealth: Keeping It in the Family,” prolific author and family advisor James Hughes Jr. maintains that family businesses are too preoccupied with taxation and governance when their primary focus should be developing human capital. In other words, he believes families must prepare and mentor the next generation to create leaders that can help the business survive.

The Future of Asian Family Offices

The Future of Asian Family Offices

Asia has been an engine of wealth creation over the last few decades and the number of family offices in the region looks set to grow as that wealth matures. Between 2010 and 2020, the wealth held by high-net-worth individuals (HNWIs) in Asia will grow by 160% to reach a collective $14.5 trillion, according to Julius Baer. Last year, Asia added a new billionaire every second day, 117 in total, and 75% were either Indian or Chinese.

4 Key Risks Family Offices Face

4 Key Risks Family Offices Face

Wealth management is an exercise in risk mitigation. It is essential for any entrepreneur or wealthy family with a family office to consider the inherent risks that come with growing and preserving wealth for future generations. The following are four risks family offices face:

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