Family offices play a key role in the wealth management for high net worth families for the efficient management and transfer of wealth across generations.
Occasionally, interpersonal and inter-generational conflicts may emerge.
These conflicts are very complex, often intertwining layers of multi-generational relationships. Emotions run high and are deep seeded.
The Cedar Group provides a safe zone where all parties involved can confidentially discuss the issues as they see them. We act as an unbiased, neutral third party to try and help you resolve the conflict.
Family office conflicts often involve the following issues:
Determining overall strategy / Decision making protocol / Hiring & Firing Family office team / Investing in new family businesses (i.e. :start ups) / Philanthropy issues / Liquidity issues / Spouses / Core Family vs. Married-in/ Aging parents.. to name just a few.
There are many factors that play a major part in family office conflicts. These include: cultural and gender factors, family hierarchy, misaligned expectations, competing and conflicting interests, internal coalition building and power struggles, and faulty communication.
Among the problems that often manifest themselves in family business conflicts are: frequent fighting and bickering, passive as well as overt aggression, ineffective (often no) communication, the blame game, harboring past unresolved family issues "living in the past", inflated sense of entitlement and many more.
If you are dealing with these types of problems give us a call, we can help.
