Your place for advances in ownership, decision-making, and succession

You have a successful family enterprise.  Enterprising people started it.  Enterprising people work in it today. It’s grown significantly, maybe more than anyone expected. At some point it started becoming more complex to run – more moving parts, more decisions, more corners to turn. Plus, your family has grown in number, and making decisions is more involved than it used to be. You’re not sure everyone in the family wants the same thing.  What you do know is, you want both your family and the enterprise to succeed. They’re your roots and your future and you want to protect them because there’s more at stake than money.

That's why we're here! We help family owners and their trusts organize and decide about what they own, so the owners are confident, the family is supportive, and everyone involved is free to succeed.

Enterprising Families

We help many family businesses but we also help family organizations you might not think of as 'businesses.' That’s why we use the word 'enterprise.' For us, your family enterprise holds assets and encompasses activities that connect the lives of people in your family.

FamilY Operating Companies

Owning, managing and passing on the family business has unique challenges. Our consultants understand these challenges first-hand and can provide practical advice and support for your family's unique situation.

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Family office & investment

We have extensive experience establishing family offices and designing governance structures to meet the needs of the family and management - helping your family office to maintain wealth and sustain the family.


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family legacy assets

Not all assets are merely to generate financial gain. Family vacation homes, for example, bring much more reward than money - the emotional value as families bond and relax together can far outweigh the monetary value.


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Charitable Foundations

 We believe that many of the governance issues that arise with family foundations reflect dynamics that are very similar, even if not exactly identical, to those in operating companies and family offices.

 

Keeping it in the family?

 

Your family business is the cornerstone. It provides jobs – for people in your family and your community. It may have operations outside the United States. Your business has probably been around for generations and may have grown because of the hard work of family and non-family alike. Your family business depends on effective decision-making – now more than ever. You need a decision-making structure that accounts for how your family already does things and how your family actually operates. 

We do not assume everyone in your family wants the same thing. We do not presume unity, and we don’t believe in forcing it. We do not assume your family will leave one single legacy. Nor do we assume you should sell – or keep - the business. Instead, we start with what is present – who is in the family, who owns the business, who the non-family employees are, and who the management is. We pay particular attention to owners – who they are, what they want, what they intend, and why.  We consider all these components to help you arrive at a decision-making structure and a succession path that fits your family. 

or call us on +513 205 8946

 

Managing wealth and sustaining the family

 

By 'family office', we mean any kind of separate entity whose purpose is to house or manage a family’s assets for investment purposes. Maybe your family recently sold its business and put the sale proceeds into a family-controlled investment entity. Maybe your family has operating companies but uses co-owned pools of assets to invest together or make purchases in common. Or maybe your family members invest their own money separately, but they use a family office-type setting to convene discussions about family or financial issues common to the whole group.

In any of those cases, we are able to address the same governance and succession issues as arise with an operating company.

Want to know how a family office can help to manage wealth and sustain your family? Click here to download this helpful whitepaper written by Amelia Renkert-Thomas for The Family Office Association

 

or call us on +1 513 205 8946

Protecting your family assets

 

Many families own special assets not because they seek a rate of return on them as an investment, but simply because the assets mean something special to the family. A common example is family vacation property. Often the property is the setting for favorite family events. Maybe it has been in the family for years. Sometimes the property has increased so much in value, and ownership has splintered so much over the years, that the ownership arrangement simply does not work any more. Or perhaps there is lack of clarity about how and when the property is to be used.

Sometimes, by addressing issues involved in legacy assets, families find they improve how they handle similar issues in their operating companies and other enterprises.

or call us on +1 513 205 8946

 

Charity begins at home

 

This is an enterprise whose purpose is to donate money to charitable causes. Typically it’s a private foundation – either a corporation or a trust. In the business world, a business owner can measure financial success of the company in terms of profitability. But in the nonprofit world, how do you know when a family foundation is successful? 

How does your family know whether the foundation is doing what it’s supposed to do? Who decides this? And who makes the decisions inside the foundation? How should you think about 'ownership' in terms of a private foundation? Does your foundation receive its funding from the family business or a family office? How effectively is that happening? What place does the foundation hold in how your family makes decisions overall? 

These are questions where we can help you.

or call us on +1 513 205 8946

 

More at stake than money

Introducing 'Engaged Ownership: A practical guide for owners of family businesses' written by Amelia Renkert-Thomas and published by renowned publishers Wiley. Engaged Ownership has been described as 'the missing piece of the puzzle for family enterprise'.

 Every family is different but the challenges they face are often the same, throughout the book we meet the Owen Family and the challenges the Owens face as the business becomes more complex and ownership is transferred Charlie Owen's siblings, following his sudden and unexpected passing.

Engaged Ownership offers families and their advisors a road map for integrating owners into the decision-making fabric of the company to carry on the family's legacy, vision and strategic direction.

The story of the Owen family over several generations vividly illustrates how engaged owners can make not just a little difference in the success of a company, but add a form of value that cannot be duplicated with good management alone.
— Dennis T. Jaffe, PhD, Wise Counsel Associates


Get your copy of Engaged Ownership

Engaged Ownership is available to buy on Amazon and all leading book retailers

To discuss a bulk order discount contact LeeAnn Bareswilt at lbareswilt@familyenterpriseoffice.com