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Case Study #4 - Working together after a sale


 The Benson family has just sold their business to a large multi-national corporation. It was a difficult decision, but all family members felt it was the right decision given the circumstances. The family now has significant liquid wealth and is not sure where to go from here.


We met with the family to first deal with the complex emotions they were feeling after the sale. We then discussed their options which started with the question of whether or not they wanted to continue to work together to manage their assets, or let each individual manage his or her own affairs. The family also received strong tax, legal and financial advice to set up their assets appropriately.


All family members agreed to continue to work and invest together.

 We assisted the family to establish a Family Council which provided the forum for all family members to discuss matters relating to their common assets. The Family Council Charter provided a voting structure that the Family Council adopted to vote on issues relating to the management of their wealth such as hiring a new money manager or investing in a new product/project.

The family also established a Family Office to oversee the day-to-day administration of the family's wealth. The Family Office Director not only oversees the investment managers, but also coordinates the family's other advisors as well, including tax, legal and financial. The Family Office Director is responsible for collecting information from the various advisors and reporting back to the Family Council.