Live, Online Program

Building a Multigenerational, Family Enterprise Wealth Portfolio

September 13-15, 2021

A 3-day, Interactive Program to reimagine your family enterprise wealth portfolio strategy for the new economy.

September 13-15, 2021
Daily 9:00 AM – 12:30 PM Eastern

Growing a family’s total wealth over generations (including operating businesses, financial assets, family assets, and other investments) requires more than placing good bets. It also calls for a number of critical leadership ingredients such as a commitment to the aspirations of the family, recurring investment in family talent, an understanding of important family enterprise cycles, and skills in the artful design of an agile and robust wealth portfolio that generates lasting value.

During our time together in this three-day program, you will learn how to strategically design and lead your family enterprise MULTIGENERATIONAL WEALTH PORTFOLIO. You will also understand how to increase your portfolio’s resilience in today’s turbulent environment and through the next generations.

WHAT IS A FAMILY ENTERPRISE WEALTH PORTFOLIO?

A family enterprise wealth portfolio is a family’s collection of businesses, financial investments, investment companies, real estate and other ventures, family assets (such as homes and art), philanthropic commitments (what we call family social impact), and important family activities.

This collection of assets and activities bring financial rewards, unique knowledge and know-how, meaning, and motivation to the owning family. They are the assets and activities that carry the family’s name, brand or reputation, and DNA. They are typically cultivated to pass to the next generation so they can put their own mark on the portfolio.

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PROGRAM OVERVIEW


THE TRADITIONAL METHOD OF WEALTH ACCUMULATION IN FAMILIES

Over generations, successful enterprising families accumulate wealth in a similar pattern—by placing good business and other investment bets and nurturing unity among family owners. They create, acquire, and grow companies and other investments due to one or more family members’ interests, good instincts, persistent hard work, and personal relationships, combined with fortuitous market timing.

Over time, it is common for a family’s wealth portfolio to include an array of important assets and activities of the family: businesses, investments, alongside a variety of costs and spending areas. The family also develops organizations and governance for their wealth around Boards of Directors and Boards of Trustees, a family office, philanthropic and community activities, and others. When the next generation begins to express interest and inquire about the portfolio, it has often become a rather complex collection of assets and activities whose underlying purpose and logic can be rather difficult to explain.

This opportunistic method of wealth portfolio construction can produce sizeable wealth within a generation or two, leading families to believe they have the “right formula.” However, overtime, even within the first and second generations, this opportunistic portfolio construction—while common—can become a considerable vulnerability for a family.

Is your family’s portfolio designed and managed for your family to grow the value you want to create? Is it designed to succeed over the long-term?

It may be time to clarify your family’s portfolio strategy and leadership approach to it.

 

FAMILIES NEED A WEALTH PORTFOLIO STRATEGY

In today’s turbulent environment, a comprehensive wealth portfolio strategy is essential.

Deliberate wealth portfolio planning and construction, together with anticipating the family’s future financial needs, is critical for motivating the family to advance to its next growth stage. Strategy involves a design process based on dialogue and alignment among the family owners regarding vision and goals for the portfolio to achieve the family’s wealth objectives.

Importantly, a comprehensive wealth portfolio strategy must also recognize that financial asset accumulation is but one consideration in building multigenerational wealth and success. There are several ingredients needed to build value across generations—many of which are easily overlooked in pursuit of financial gains.

You will learn the ingredients to build long-term family value in this program.

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  PROGRAM TAKEAWAYS

In this program, you will:

  • Gain insights into why the traditional wealth portfolio construction approach used by families is inadequate and puts your family wealth at risk, especially in today’s volatile world
  • Understand the characteristics of today’s new era of turbulence that call for a new approach to wealth portfolio design and leadership
  • Learn the ingredients for a family to build long-term value
  • Learn the art of portfolio strategy for families – a structured, deliberate process that takes into account the vision and goals of the family owners and the changing needs and environment of the family enterprise
  • Learn the strategies for making thoughtful, calculated bets on assets and activities that will power your family enterprise into the future
  • Learn how to integrate and coordinate across your entire portfolio of companies, investments, assets, and activities
  • Discover the financial policies, oversight, and governance needed for an enduring family enterprise wealth portfolio
  • Identify the leadership and talent needed in your family to grow your wealth portfolio, and key talent development strategies to use

PROGRAM TOPICS

The Multigenerational Wealth Portfolio Model for a Family Enterprise

  • How the “right” wealth portfolio helps achieve multiple family success goals in addition to growing assets
  • The ingredients for constructing a strategy for your family’s multigenerational wealth creation and growth
  • Simulations Models––using CFEG’s proprietary tools––that offer fresh, customized perspectives, scenarios, metrics, assessments, and guides for growing your family’s wealth
  • Key financial and ownership considerations to be satisfied in a multigenerational portfolio strategy, such as liquidity, control, growth, returns, purpose, and values

A Strategic Process for Wealth Portfolio Construction in this New Age

  • How to construct a family enterprise wealth portfolio to sustain through this turbulent era and into the next generations
  • Processes to design the family enterprise wealth portfolio your family needs
  • The visioning and strategy work required to design and grow a family enterprise wealth portfolio

Talent and Governance to Guide Your Family Enterprise Wealth Portfolio

  • The Owners’ Leadership Lens for guiding and directing a family enterprise wealth portfolio from the owners’ perspective—including looking at aggregated performance and allocating/coordinating resources
  • The role of active owners and ownership leaders in building and guiding the wealth portfolio strategy
  • The Family Enterprise Leadership Concept: how to lead the right assets and activities in a family’s wealth portfolio
  • Governance required for a family enterprise wealth portfolio, such as the top/group board and investment committees

Long-term Success for Family Enterprise Wealth in this Turbulent Era

  • How your wealth portfolio must align with the requirements of family success in this new age
  • Family Wealth Paths: how wealth travels and transforms over generations; how to identify which wealth path your family is on; and how to move to or remain on the path you want to be on
  • Family Success Model: key lessons of long-term family prosperity

 

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Faculty

Professor John A. Davis (Program Co-Chair)
Founder and Chairman, Cambridge Institute for Family Enterprise

John A. Davis is a globally recognized pioneer and authority on family enterprise, family wealth, and the family office. He is a researcher, educator, author, architect of the field’s most impactful conceptual frameworks, and advisor to leading families around the world. He leads the family enterprise programs at MIT Sloan. He is the author of Enduring Advantage: Collected Essays on Family Enterprise, Next Generation Success and Generation to Generation: Life Cycles of the Family Business, a preeminent work in the family enterprise field.

 

Pascale Michaud, CFEG partner and portfolio strategist

Dr. Pascale Michaud (Program Co-Chair)
Fellow, Cambridge Institute for Family Enterprise

Pascale Michaud is an advisor to family enterprises throughout the world on strategies and governance models for their successful continuity. She advises multigenerational family enterprises on issues of corporate growth, business strategy and governance, innovation management, digital preparedness, leadership transitions, next-generation development, family governance, and family and corporate philanthropy.

 

Francois de Visscher
Fellow, Cambridge Institute for Family Enterprise

A native of Belgium, Francois de Visscher has advised business-owning families around the world for over 30 years. He is a trusted advisor to family ownership groups, family offices, and family companies on a wide range of financial areas that span all evolutionary stages of the life of a family and its assets. Mr. de Visscher assists families in developing, analyzing, and implementing financial solutions for the liquidity needs of the owners, the capital needs of the business, and the diversification needs of the portfolio—all while designing governance structures to help build wealth across generations. He is a 4th generation member of his family business.

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Registration

Who Should Attend?

This program is designed for enterprising families that are ready to take a deep look at their family enterprise wealth portfolio from a multigenerational perspective. The program is an accelerator for families that are ready to design a portfolio to meet important family goals, realize the family vision, grow the family’s wealth, and explore creating other sources of value now and into the next generations.

Participating families ideally would have:

  • Important financial liquidity with or without operating companies (now or soon)
  • Some combination of operating companies and/or investments—such as direct investments, private equity investments, tangible assets, or liquid assets (now or soon)
  • An interest in supporting community activities and/or giving back through philanthropy, social impact, impact investing, social entrepreneurship, or in other ways

Tuition

This is a live, online program offered during fixed dates and times. Participants attend live. No recordings will be made available.

$2,600 for the first registrant
$2,100 for each additional registrant from the same family, company, or family office
In U.S. Dollars

Group participation of 3+ family members plus advisors or managers is highly encouraged to absorb and discuss new concepts together. This leads to faster and more effective implementation after the program. A common comment we hear from past participants in our programs is, “I wish I had brought more family members with me to this program.”

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