Family Policies and the Elephants in the Room
As professionals to Family Enterprises, we all know it is important for our families to be meeting as families to talk about the important topics they should be discussing in order to increase their chances of sustaining wealth over generations and practice responsible stewardship. Moving a client to hold these type of “family meetings” can often be more difficult than it should be. What are the clients afraid of?
While many families have family secrets that have poisoned the family’s ability to communicate, other families are paralyzed by issues their advisors could easily help them address through a simple family policy. Some of the tensions that pose as elephants in the room are the inclusion of in-laws, family conflict, confidentiality, and the lack of accountability all compounded by a general lack of understanding about the future.
This session proposes that tensions in these areas can be greatly reduced through developing and implementing family policies. Additionally, a non-investment Risk Management Policy can go a long way to assist family advisors in moving families forward with estate planning, pre-nuptial agreements, Insurance coverage, etc. Learn how developing family policies can help to further your work with your clients.
About The Speaker
Daisy E. Medici
Director of Family Governance
Wealth Advisory Center
GenSpring Family Offices
Daisy Medici joined GenSpring Family Offices in 2006 and is the Director of Family Governance. Daisy’s forte lies in facilitating family meetings that focus on the preservation and continued development of non-financial Family Capital, both Human and Intellectual. Her strong suit is in helping families sustain their wealth by establishing, strategically, effective systems of family governance.
Daisy focuses much of her time on delivery of the firm’s Governance offering; coaching and mentoring GenSpring professionals in the non-financial components of this process and working alongside GenSpring’s advisory teams as they assist client families to identify wealth related goals and objectives and develop long range strategies critical to sustaining wealth across generations.
Daisy brings to GenSpring extensive experience in the family business space. Prior to joining the firm, Daisy was a partner at Roseview Capital Partners, an investment banking and family business advisory firm where she worked with client families and focused on new business development and marketing. Prior to her work at Roseview, she was Managing Director of Genus Resources, LLC, a business consultancy catering exclusively to the needs of family enterprises. In addition to her responsibilities as a member of the senior management team at Genus Resources, Daisy served as Genus’ primary resource for expertise in Wealth Preservation, assisting families in achieving their philanthropic goals while capturing the spirit of their values.
Daisy earned her graduate degree in Communications Management at Simmons College in Boston, MA. She has been an active member of The Family Firm Institute for many years, co-chairing the 2005 Family Firm Institute Annual Conference, presenting at the 2010 Annual Conference, on the Board of Directors of the Family Firm Institute’s New England Chapter and currently serves as Chairperson of the Advisory Committee for FFI 2011 Annual Conference. Among her many accomplishments in the field of family business she is also a contributing author for Families in Business magazine.
