Table of Contents

Foreword 3 Family office profiles 5 Family office profile: Rodolfo Paiz, CEO of the PT Family Office (Miami and Guatemala) 7 Interview by Suzy Peterfriend Family office profile: Northwood Family Office 10 Interview with Tom McCullough by Barbara R Hauser An interview with Sue Nickason of Dart Family Office 15 Governance, entrepreneurship, resilience and reinvention on the five-generation journey of a family enterprise 17 Dennis T Jaffe, Maya Prabhu and Carolina Cintra Family office profile: VALUEworks AG, Zurich/Switzerland 26 Interview with Kecia Barkawi, CEO and founder of VALUEworks AG by Barbara R Hauser Family business, family office and next gen 30 Fabrizio Arengi Bentivoglio Single-family offices in the 21st century – remaining fit for purpose 33 Iraj Ispahani and Carl Sjöström Governance 41 Case study – design and set up of a family investment office 42 Guillermo Barandalla Family mission vision and values statements: the essential foundation of an effective family governance system or just another form that cannot function? 45 Christian Stewart The three family constitution archetypes and a wise alternative 53 Christian Stewart Family constitutions, the rule of law and happiness 60 Barbara R Hauser Stress tests – building resilience in the face of a crisis 68 David Werdiger The benefits of applying the rule of law in family governance 74 Barbara R Hauser The great man fallacy and family governance 79 Franklin J Parker NextGen 85 Family office succession planning 86 Susan R Schoenfeld The right time to involve the next generation 94 Antoaneta Proctor Parental expectations: effective guidelines or messy messages? 99 Raimund Kamp Not the founder’s family office: evolving to meet the needs of rising generations 106 Amelia Renkert-Thomas Let’s do it the SMART way: a practical guide for the raising of affluent children 115 Philippe J Weil The importance of financial education for securing wealth transfer across generations 122 Peter Brock I’m successful, but can’t talk to my children about money! Help! 128 Maya Prabhu The hows and whys of enterprising families reinterpreting timeless tales for their NextGen 133 Asher Noor Generational resilience through the integration of governance into structure 140 Carly E Doshi, William J Kambas and Michael S Schwartz Reframing succession in a disruptive era – a business family perspective 148 Roger King and Jeremy Cheng Five things wealthy families can learn from Lee Man Tat 154 Russell Cohen The next generation of strategic cultural philanthropy – impact, social justice and the opportunities for nextgen donors in the arts 156 Melissa Cowley Wolf Effective mentoring for the next generation 165 Jessica McGawley Women: wealth and self-reliance 185 Philip Marcovici and Caroline Underwood Safeguarding the family’s digital narrative: how to navigate the challenges of the social media revolution 209 Charlie Bain About Globe Law and Business 225