STRATEGY FOR THE WEALTHY FAMILY

by Mark Haynes Daniell

Overview

Strategy for the Wealthy Family provides a clear framework for highly informed strategic management of the family, the family business, the family's financial assets, the family's trust and tax management activities, philanthropic activities, risk factors and the family's surround ecosystem of institutions, advisors, friends and influencers. It also provides an approach to ensure the important individuality of all family members is fully reflected in every aspect of strategy for the greater family. Defining true family wealth as far more than pure financial capital, Strategy for the Wealthy Family sets out insights and information to help you grow, protect, transfer and share all aspects of your own family wealth successfully across future generations. Ultimately, this is a book for those who wish to understand and manage their own family wealth to join the club of the world's best-managed wealthy families — and stay there.

Product Details

ISBN-13:	9789811238383
Publisher:	World Scientific Publishing Company, Incorporated
Publication date:	10/28/2021
Series:	RAFFLES FAMILY WEALTH AND LEGACY SERIES , #1
Sold by:	Barnes & Noble
Format:	eBook
Pages:	512
File size:	6 MB

About the Author

Mark Haynes Daniell is the founder and chairman of The Cuscaden Group, a privately owned investment and advisory business.

Mr. Daniell is a former director of Bain & Company, one of the world’s leading strategy consulting firms, where he worked for more than 20 years with some of the world’s wealthiest families and their businesses around the world. He also served as a Director of Wasserstein Perella, a boutique mergers and acquisitions advisory firm in London and Paris, and was the founder and chairman of Singapore’s national Private Wealth Management Initiative. An independent director of Olam International, a multi-billion dollar international logistics business, Mr. Daniell has also been President of k1 Ventures, a publicly listed strategic investment company, and is a director of a number of privately owned companies.

Mr. Daniell holds a juris doctor degree from the Harvard Law School, an Honors degree in jurisprudence (B.A. and M.A.) from Oxford University (University College), a B.A. degree from Amherst College, a C.E.P from the Institut d’Etudes Politiques de Paris and a D.E.F from the Sorbonne-Université de Paris IV. He is also a High Honors graduate of The Phillips Exeter Academy in the United States.

In addition to authoring five books on wealth management, business strategy and global affairs, Mr. Daniell has contributed numerous articles to The Wall Street Journal and business publications. He is a frequent expert guest commentator on business and economic affairs for CNBC, the BBC, CNN, and Channel NewsAsia.

Table of Contents

Preface.

Dedication.

Acknowledgments.

Introduction.

Mastering the Challenge of Family Wealth: Seven Principles of Strategy for the Wealthy Family.

PRINCIPLE 1: A FRAMEWORK FOR FAMILY STRATEGY.

1. The Elements of Strategy.

2. Defining True Family Wealth.

3. Categories of Financial Wealth and their Implications.

4. Evolution Across Generations.

5. Process and Content of Family Strategy.

PRINCIPLE 2: FAMILY ORGANISATION AND LEADERSHIP.

6. Family Identity, Vision and Values.

7. Organization, Governance and the Family Constitution.

8. "Heir Conditioning": Preparing the Next Generation.

9. The Family "Eco-System".

10. The Family Office.

11. Family Leadership and Engagement.

PRINCIPLE 3: FAMILY WEALTH PRESERVATION.

12. The Lessons of Risk and History.

13. Financial Discipline and Distribution Patterns.

14. Tax Management and Asset Structuring.

15. Establishing and Managing a Trust System.

16. Estate Planning and Ethical Will.

17. Risks To Family Wealth and Well-being.

PRINCIPLE 4: FAMILY WEALTH MANAGEMENT.

18. The Investment Process.

19. Investment Profile and Investment Objectives.

20. Understanding Asset Classes.

21. Strategic Asset Allocation.

22. Performance Reporting, Portfolio Risk and Cost Control.

23. Private Banks, MFO's and Elite Family Investment Managers.

PRINCIPLE 5: THE FAMILY BUSINESS.

24. The Importance and Performance of  Family Businesses.

25. Family Issues in Business Strategy.

26. Strategic Success for a Family Business.

27. Managing the Family in a Family Business.

28. Family Business Role in Family Wealth Management.

PRINCIPLE 6: EFFECTIVE PHILANTHROPY.

29. The History of Generosity.

30. New Philosophy and Practices of Philanthropy.

31. Practicalities and Benefits of Family Giving.

PRINCIPLE 7: LIVING A TRULY WEALTHY LIFE.

32. Mastering the Individual Challenges of Family Wealth.

PRINCIPLES IN ACTION: PRACTICAL EXAMPLES OF
STRATEGY DOCUMENTS FOR THE WEALTHY FAMILY.

Introduction

Example 1a: Family Strategy Document for a Category I (US$5 million) Family.

Example 1b: Family Strategy Document (Full Version) for a Category III (US$500 million) Family.

Example 2: Family Constitution.

Example 3: Trust Deed and Letter of Wishes.

Example 4: Investment Policy Statement.

Example 5: Family Business Strategy: Executive Summary.

Example 6: Philanthropic Foundation Document.

Example 7: Ethical Will.

Bibliography.

Index.